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on 0 a Lease and Agreement subsequently identified herein and referred to as the "Lease Agreement"; and WHEREAS Westport is a subsidiary of Stern-Slegman- Prins Company, a Missouri corporation ("Stern") and Stern has agreed to unconditionally guarantee performance by Westport of its obligations under the Lease Agreement by an instrument identified as the "Stern Guaranty Agreement"; and WHEREAS permanent financing of the Project costs, necessary costs and expenditures incidental tlIereto and to the expeditious commence- ment of manufacturing operations, the cost of the issuance of bonds and the amount necessary to provide for interest on bonds until Project revenues are available is being furnished by the issuance of Industrial Development Revenue Bonds by the City under the provisions of Act No. 9 in the principal amount of not to exceed Five Hundred Thousand Dollars ($500,000) , the "bonds" or "Act No. 9 Bonds"); and WHEREAS there has been submitted to the electors of the City the question of issuing the Act No. 9 Bonds at a special election, and at said special election the electors approved the issuance of the Act No. 9 Bonds; and WHEREAS the bonds are to be sold and delivered in series, with the initial series being in the principal amount of $375,000, designated Series A, and which are dated, bear interest, mature and are subject to re- demption as hereafter in this Indenture set forth in detail; and WHEREAS the execution and delivery of this Trust. Indenture (the Trust Indenture" or the "Indenture") and the issu,�.lncc of the bonds have been in all respcCts' Ci i1 c1Yld v_?lic!ly a1_]thi riz,c:d by OrCinaI{CC the city Council of the City, adopted and approved cr> th�. ?5 d-�.� T ��y of i o. ��i-li cr, 19 60 and