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Providing for the aquisition and construction of an economic development project and the leasing of the same to Marilyn Brown, Rael F. Brown, Shirley B. Waks and Beatrice L. Nevel
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Providing for the aquisition and construction of an economic development project and the leasing of the same to Marilyn Brown, Rael F. Brown, Shirley B. Waks and Beatrice L. Nevel
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4/27/2017 2:43:38 PM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
8/12/1974
Ord-Res Number
438-74
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by the City to expend any of its funds other than (i) the proceeds <br /> of the sale of the Series 1974 Bonds , (ii) the income and revenues <br /> derived from the Project, (iii) any proceeds accruing to the City <br /> of insurance on the Project , (iv) any proceeds accruing to the City <br /> on account of any taking or condemnation of title to the whole or <br /> any part of the Project, and (v) any money arising out of the invest- <br /> ment or reinvestment of said proceeds , income , revenues or monies. <br /> Section 3 . Each of the Series 1974 Bonds shall be ex- <br /> ecuted in the name of the City by the facsimile signature of the <br /> Mayor, shall be attested by the City Clerk , shall have the corporate <br /> seal of the City impressed thereon and shall be authenticated by <br /> the endorsement of the Trustee. Interest coupons attached to the <br /> Series 1974 Bonds shall be executed with the facsimile signatures <br /> of the Mayor and City Clerk . <br /> Section 4 . The Series 1974 Bonds shall be issued in com- <br /> pliance with and under the authority of the provisions of the Act , <br /> this resolution and the Indenture . Additional bonds may be issued <br /> on a parity with the Series 1974 Bonds in accordance with the pro- <br /> visions and limitations set forth in the Indenture . <br /> Section 5 . There is hereby authorized the execution and <br /> delivery of the Lease, in substantially the form attached hereto <br /> as Exhibit A, which is hereby approved and incorporated by reference <br /> and made a part hereof. <br /> Section 6 . The Sublease , in substantially the form at- <br /> tached hereto as Exhibit B, is hereby in all respects approved and <br /> incorporated by reference and made a part hereof. <br /> Section 7 . To provide for the details of and to secure <br /> the Series 1974 Bonds and to prescribe the terms and conditions <br /> upon which the Series 1974 Bonds are to be issued, secured, executed, <br /> authenticated, accepted and held, the Mayor and City Clerk are here- <br /> 5 <br />
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