No. 0084 authorizing issuance, sale, delivery from preliminary loan notes, execution of requisition agreements, execution of project temp. loan notes for delivery pursuant to requisition agreements IND R-29

Home Browse Search

Preliminary be applied by provisio such Notes. 9. DISPOSITION OF PROCEEAS. The proceeds of each issue of Loan Notes issued pursuant to the authority of this Resolution shall 'or the authorized purposes of this Resolution and as may be required m of the Requisition Agreement securing the respective issues Of SECTION 10. DELIVERY OF NOTES. Each Note of each issue of Notes authorized pursuant to this Resolution shall be payable on the maturity date thereof at the incorporated Bank having trust powers or the incorporated Trust. Company, as the purchaser thereof shall designate in the proposal. Such Bank or Trust Company is hereby designated as the Paying Agent for each such Note, and the Notes hall be delivered to the purchaser in accordance with the pro�rlsions of a Lette of Instructions (Urban Renewal Program), being Form No. H -3084 (12 -62), a copy of hick has been examined on behalf of the Local Public Agency and is hereby app owed. A copy of said Form H -3084 (12 -62) is hereby ordered to be filed as a part f the official records of the Local Public Agency. The Secretary of the Redevelop nt Commission shall endorse on such copy a statement identifying the same as t Jad form of Letter of Instructions approved by this Resolution, and shall furnish tsaid Regional Administrator and said bond counsel, each a certified copy of Form No. H -3084• (12 -62) as hereby approved. Following the execution of an issof Notes, the d execute said Letter of Instruions and forward ac suc Ze ter of Instructions ogether with the Notes and 163ignature Certificate and Receipt described therein, to,the said Regional Administrator with the request that the same be approved and forwarded to the designated Paying Agent. SECTI N 11. TR�ANSCRxpTS ANb PROCEEDINGS. The officers of the Local Public Agency, Including the Authorized Officer and attorneys for the Local. Public Agency, are hereby authorized to furnish to the Government, bond counsel engaged to re C]er the approving opinion on -the respective issues of Preliminary Loan Notes authorized to be issu d hereunder, and to the purchasers of Preliminary Loan.Notes such informative data, certificates.and transcripts of proceedings as they may reason- ably reque t pertaining to the Local Public Agency, the Project, and the financing of the Project. SECTION 12. CHANGES IN AUM BIZED gletMT. In the event the Vocal Public Agency and the Government sha11 enter into one or more amendments tokthe Loan and Grant Cont act on a date or dates subsequent to the adoption of this Resolution whereby the maximum amount of the Project Temporary Loan outstanding at any one time, refe red to in the first preamble and in Section 1 of this Resolution, is either Inc eased or decreased, the maximum amount of the Project Temporary Loan stated in terms of dollars in said preamble and in Section 1 shall automatically be increas d or decreased to the maximum limitation specified in terms of stated dollars in the latest of any such amendment: Provided., That no such increase or decrease s all operate to modify in any manner the terms of payment on account of the Projec Temporary Loan under any outstanding Requisition Agreement. SECTI N 13. EFFECTIVE DATE. This Resolution shall take effect immediately. -6-