Refunding Bonds Series 1987 Maple Lane Associayes Project

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Borrower and the payment, by the Borrower, of amounts suffi- cient to pay the principal of, premium, if any, and interest on the Bonds, the Mayor and (where noted in the Loan Documents) the Clerk shall execute and deliver in the name of and on behalf of the City, the Loan Documents in substantially the forms submitted to this Common Council, which are hereby approved in all respects, and pursuant thereto shall loan the proceeds of the sale of the Bonds to the Borrower to effect the Refunding. Section 6 . Execution. The Mayor and the Clerk are hereby authorized to execute and deliver, on behalf of the City, any necessary amendment to the Loan Documents to effectuate the Refunding and the intent and purpose hereof. The Mayor and Clerk are hereby authorized, without further approval of the Common Council or the City' s Economic Development Commission to approve such changes in the Loan Documents as may be permitted by Act, such approval to be conclusively evidenced by their execution thereof. Section 7. General. The Mayor and the Clerk are each hereby authorized and directed, in the name and on behalf of the City, to execute any and all agreements, documents, and instruments, perform any and all acts, approve any and all matters, and do any and all things deemed by them, or either of them, to be necessary or desirable in order to carry out and comply with the intent, conditions and purposes of this Bond Ordinance (including the preambles hereto and the documents mentioned herein) , the issuance and sale of the Bonds, and the securing of the Bonds under the Loan Documents. Section 8. Binding Effect. The provisions of this Bond Ordinance and the Loan Documents to which the City is a party shall constitute a binding contract between the City and the holders of the Bonds, and after issuance of the Bonds this Bond nrAinanrc shall nn4- he rcncalcrI nr amantiarl in anv racnarF thiih