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No. 0023 authorizing the issuance of certain project temp. loan notes in connection with urban renewal project No. INDIANA R-7 and providing for the security for the payment thereof and for other purposes
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No. 0023 authorizing the issuance of certain project temp. loan notes in connection with urban renewal project No. INDIANA R-7 and providing for the security for the payment thereof and for other purposes
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10/18/2012 4:29:41 PM
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(Resolution No. 23) <br />its temporary operation of Project Land pending its <br />preparation and ultimate sale, lease, or retention of <br />Project Land; <br />(d) All moneys constituting compensation by the Local <br />Public Agency for Project Land which it retains in- <br />stead of selling or leasing; <br />(e) All moneys which may be provided by the Local Public <br />Agency from sources other than the Government or <br />from the proceeds of a Project Definitive Loan, if any, <br />to compensate the Project Temporary Loan Repayment <br />Fund for the fair value imputed to Project Land which <br />is leased by the Local Public Agency rather than sold <br />by it for cash; <br />(f) All such Local Grants -in -Aid in the form of deficiency <br />cash grants as, after the Gross Project Cost and the <br />Net Project Cost have been determined and the payment <br />J of all costs comprising Item I of Gross Project Cost has <br />been duly made or provided for and all other Local <br />Grants -in -Aid applicable to the Project which have been <br />provided have been determined, are provided with re- <br />spect to the Project to meet the deficiency, if any, in <br />Local Grants -in -Aid in connection with the Project; <br />(g) All accrued interest, if any, which is paid to the Local <br />Public Agency on Project Temporary Loan Notes at the <br />time when the Government takes up and pays for such <br />Project Temporary Loan Notes; and <br />(h) The unexpended balance, if any, remaining or belonging <br />in the Project Expenditures Account after all costs con- <br />stituting Item I of Gross Project Cost have been paid, <br />i <br />8 <br />
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