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60-18 Bond Financing for the Community Center Project
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60-18 Bond Financing for the Community Center Project
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11/7/2018 2:09:11 PM
Creation date
11/7/2018 2:08:28 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/12/2018
Bill Number
60-18
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ARTICLE II <br /> REPRESENTATIONS; USE OF BOND PROCEEDS <br /> Section 2.1. Representations by Issuer. The Issuer represents and warrants that: <br /> (a) The Issuer is a municipal Public Library organized and existing under the laws of <br /> the State. Under the provisions of the Act, the Issuer is authorized to enter into the transactions <br /> contemplated by this Financing Agreement and to carry out its obligations hereunder. The Issuer <br /> has been duly authorized to execute and deliver this Financing Agreement. The Issuer agrees that <br /> it will do or cause to be done all things within its control and necessary to preserve and keep in <br /> full force and effect its existence. <br /> (b) Subject to the terms of this Agreement, the Issuer shall issue the Series 20_ <br /> Bonds in the aggregate principal amount not to exceed $4,800,000, in order to pay the costs of <br /> the Project approved by the Issuer, pay the cost of a debt service reserve surety policy to satisfy <br /> the requirements of the debt service reserve fund under the Indenture, and to pay the costs of <br /> issuance incurred in connection therewith, all for the purpose of creating or retaining <br /> employment opportunities in the City and benefiting the health and general welfare of the <br /> citizens of the City and the State. <br /> Section 2.2. Representations by Public Library. The Public Library represents and <br /> warrants that: <br /> (a) It is a library and municipal corporation duly organized and existing under the <br /> laws of the State of Indiana and has full power to enter into and by proper action has duly <br /> authorized the execution and delivery of this Financing Agreement. <br /> (b) Neither the execution and delivery of this Financing Agreement, the <br /> consummation of the transactions contemplated hereby, nor the fulfillment of or compliance with <br /> the terms and conditions of this Financing Agreement, conflicts with or results in a breach of the <br /> terms, conditions or provisions of any restriction or any agreement or instrument to which the <br /> Public Library is now a party or by which it is bound or to which any of its property or assets is <br /> subject or any statute, order, rule or regulation of any court or governmental agency or body <br /> having jurisdiction over the Public Library or its property, or constitutes a default under any of <br /> the foregoing, or results in the creation or imposition of any lien, charge or encumbrance <br /> whatsoever upon any of the property or assets of the Public Library under the terms of any <br /> instrument or agreement, except as may be set forth in this Financing Agreement. <br /> (c) There are no actions, suits or proceedings pending, or, to the knowledge of the <br /> Public Library, threatened, before any court, administrative agency or arbitrator which, <br /> individually or in the aggregate, if determined adversely to the Public Library, could materially <br /> and adversely affect the transactions contemplated by this Financing Agreement or which in any <br /> way would affect the validity and enforceability of such document or the ability of the Public <br /> Library to perform its obligations under this Financing Agreement. <br /> (End of Article II) <br /> 5 <br />
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