14-20 Cedar Glen Bond Ordinance Addendums

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necessary, desirable or appropriate, including such series designation to indicate the year in which the bonds are issued and the applicable project (the"Bonds"); and WHEREAS, the Act provides that such revenue bonds may be secured by and issued pursuant to the terms of a financing agreement or indenture between of which the City shall be a party; and WHEREAS, the City intends to issue at least one of the series of the Bonds pursuant to a trust indenture (the "Indenture"), by and between the City and a trustee to be designated by the Borrower (the "Trustee") in order to obtain funds to lend to the Borrower for the purpose of the acquisition, construction, renovation, installation and equipping of the Project pursuant to a loan agreement(the"Loan Agreement")by and between the City and the Borrower; and WHEREAS, the City intends to issue at least one of the series of the Bonds pursuant to a bond purchase and loan agreement(the"Bond Purchase and Loan Agreement"),by and among the City, the Borrower and the purchaser of the series of Bonds being issued thereunder in order to obtain funds to lend to the Borrower for the purpose of the acquisition, design, construction, renovation, improvement and/or equipping the Project; and WHEREAS, the Loan Agreement and the Bond Purchase and Loan Agreement, respectively, provide for the repayment by the Borrower of the loan of the proceeds of the Bonds pursuant to which the Borrower will agree to make payments sufficient to pay the principal and interest on the Bonds as the same become due and payable and to pay administrative expenses in connection with the Bonds; and WHEREAS, pursuant to Indiana Code 36-7-12-24, as amended, and Section 147(f) of the Internal Revenue Code of 1986, as amended (the"Code"), the Commission published notice of a public hearing (the "Public Hearing") on the proposed issuance of the Bonds to finance all or a portion of the Project, and has on this date prior to adoption of this resolution held the Public Hearing for the purpose of receiving evidence and testimony on the Project and matters related to the proposed financing thereof and heard all persons interested in the proceedings and considered written remonstrances and objections, if any; and WHEREAS,no member of the Commission has any pecuniary interest in any employment, financing agreement or other contract made under the provisions of the Act and related to the Bonds authorized herein,which pecuniary interest has not been fully disclosed to the Commission and no such member has voted on any such matter,all in accordance with the provisions of Indiana Code 36-7-12-16. WHEREAS, there has been submitted to the Commission for its approval substantially final forms of the Indenture, Loan Agreement, the Bond Purchase and Loan Agreement, Regulatory Agreement and Declarations of Restrictive Covenants among the City,the Trustee and the Borrower, the forms of the Bonds (hereinafter referred to collectively as the "Financing Agreements"), and the proposed form of the Ordinance which are by this reference incorporated herein; now, therefore: 2