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10632-18 Bond Financing for the Community Center Project (St. Joseph County Public Library)
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10632-18 Bond Financing for the Community Center Project (St. Joseph County Public Library)
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11/28/2018 12:57:51 PM
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11/28/2018 12:57:12 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/26/2018
Ord-Res Number
10632-18
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WHEREAS, IC 36-7-14 provides that a redevelopment commission of an issuer may <br /> pledge certain incremental property taxes (defined herein as Pledged Revenues) to pay, in whole <br /> or in part, amounts due on the Series 20_Bonds; and <br /> WHEREAS, the Redevelopment Commission has, by resolution, dedicated and pledged <br /> to the Issuer, the Pledged Revenues to be applied to the repayment of the Series 20_Bonds; and <br /> WHEREAS, the Bonds and the Trustee's certificate of authentication to be endorsed <br /> thereon are all to be substantially in the form provided in this Indenture; <br /> NOW, THEREFORE, THIS INDENTURE WITNESSETH: That in order to secure the <br /> payment of the principal of and interest on the Bonds to be issued under this Indenture according <br /> to their tenor, purport and effect, and in order to secure the performance and observance of all <br /> the covenants and conditions herein and in said Bonds contained, and in order to declare the <br /> terms and conditions upon which the Bonds are issued, authenticated, delivered, secured and <br /> accepted by all persons who shall from time to time be or become holders thereof, and for and in <br /> consideration of the mutual covenants herein contained, of the acceptance by the Trustee of the <br /> trust hereby created, and of the purchase and acceptance of the Bonds by the holders or obligees <br /> thereof, the Issuer has executed and delivered this Indenture, and by these presents does hereby <br /> convey, grant, assign, pledge and grant a security interest in, unto the Trustee, its successor or <br /> successors and its or their assigns forever, with power of sale, all and singular, the property, real <br /> and personal hereinafter described(the"Trust Estate"): <br /> GRANTING CLAUSES <br /> DIVISION I <br /> All right, title and interest of the Issuer in and to the Pledged Revenues (such pledge to be <br /> effective as set forth in IC 5-1-14-4 and IC 36-7-14-39 without filing or recording of this <br /> Indenture or- any other instrument); <br /> DIVISION II <br /> All moneys and securities from time to time held by the Trustee under the terms of this <br /> Indenture (except moneys or Qualified Investments deposited with the Trustee pursuant to <br /> Section 10.1 hereof and except moneys held in the Rebate Fund) and any and all other real or <br /> personal property of every name and nature from time to time hereafter by delivery or by writing <br /> of any kind conveyed, mortgaged, pledged, assigned, or transferred as and for additional security <br /> hereunder by the Issuer or by anyone on its behalf, or with their written consent to the Trustee <br /> which is hereby authorized to receive any and all such property at any and all times and to hold <br /> and apply the same subject to the terms hereof; <br /> TO HAVE AND TO HOLD the same unto the Trustee, and its successor or successors <br /> and its or their assigns forever; <br /> IN TRUST, NEVERTHELESS, upon the terms and trusts herein set forth, to secure the <br /> payment of the Bonds to be issued hereunder and the interest payable thereon, and to secure also <br /> the observance and performance of all the terms, provisions, covenants and conditions of this <br /> Indenture, and for the equal and ratable benefit and security of all and singular the holders of all <br /> 2 <br />
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