Laserfiche WebLink
Resolution No. 49 <br />M <br />and shall not be valid until said statement is duly executed <br />on 'behalf of the Government. Said Project Temporary Loan Note <br />shall be delivered by the Treasurer of St. Joseph County ex <br />officio Treasurer of the City of South Bend to the Government <br />to be held and paid for by the Government in accordance with <br />the terms and conditions contained in said New Requisition <br />Agreement. <br />Pre <br />app <br />sha <br />cee <br />Section. The proceeds derived from the sale: of the New <br />Liminary Loan Notes, together with such amount of other <br />ropriate funds of the Local Public Agency as may be necessary, <br />11 be applied, simultaneously with the receipt of said pro - <br />Is. as follows: <br />First: To the payment and discharge of the principal of <br />and interest on the following Project Temporary <br />Loan Noes of the Local Public Agency issued <br />pursuant to the Loan and Grant Contract and held <br />or to be held by the Government for its own use <br />and benefit on the date of the New Preliminary <br />Loan Notes herein authorized: <br />Principal <br />No. Date Amount <br />None <br />Second: Pursuant to the provisions of the Outstanding <br />Requisition Agreement, the following amount <br />shall be paid to the paying agent named below, <br />for the sole and only purpose of paying the <br />principal of and interest to maturity upon the <br />designated Series of Outstanding Preliminary <br />Loan Notes of the Local Public Agency: <br />t Paving Agent <br />Series <br />$II16,323.05 Chemical Bank New York First Series A <br />Trust Company <br />20 Pine Street <br />New York 15, New York <br />AnI, balance of such proceeds shall be deposited in the appro- <br />priate account or fund established pursuant to the Loan and <br />Grant Contract and shall be used only in accordance with the <br />Dr visions of the Loan and Grant Contract. , <br />le <br />(1 <br />de <br />(2 <br />on <br />Section 9. The Treasurer of St. Joseph County ex officio <br />:asurer oF the City of South Bend is hereby authorized and <br />.-ected to send immediately a letter to each paying agent for <br />New Preliminary Loan Notes in substantially the form of the <br />:ter hereto attached and marked "Exhibit B" and to transmit: <br />the New Preliminary Loan Hotes to said paying agent for <br />_ivery and payment in accordance with the terms of said letter; <br />None of funds of the Local Public Agency -to the Administra- <br />Housing and Home Finance Agency, to he applied against the <br />anent of the principal of and interest to the date of payment <br />the Project Temporary Loan Notes described in Section E <br />