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Economic Development Cole Associates Inc
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Economic Development Cole Associates Inc
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Last modified
3/4/2013 1:39:04 PM
Creation date
3/4/2013 1:39:03 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/12/1986
Ord-Res Number
7638-86
Bill Number
49-86
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Agreement, in which case the per annum interest rate shall be <br /> as set forth therein; shall be in the denominations of Five <br /> Thousand Dollars ($5, 000. 00) or integral multiples thereof; <br /> shall be issued in registered form; shall be registrable as <br /> provided therein; shall be payable in the medium and at the <br /> place or places provided therein; and shall be subject to <br /> optional and mandatory prepayment as provided therein. <br /> Section 6. The Mayor and/or the Clerk of the City are <br /> authorized and directed to sell said Economic Development <br /> Revenue Bond to St. Joseph Bank and Trust Company at a price <br /> not less than one hundred percent (100%) of the principal <br /> amount thereof, plus accrued interest. <br /> Section 7. The Mayor and the Clerk of the City are <br /> authorized and directed to execute and deliver the aforemen- <br /> tioned documents for and on behalf of the City after making <br /> therein such changes permitted by the Act as they deem neces- <br /> sary or proper, as evidenced by their execution of such docu- <br /> ments, and are further authorized and directed to execute and <br /> deliver such other documents for and on behalf of the City, and <br /> to take such other actions for and on behalf of the City, as <br /> they deem necessary or proper in connection with the consum- <br /> mation of such financing. The Mayor and the Clerk of the City <br /> are authorized to arrange for the delivery of said Economic <br /> Development Revenue Bond to St. Joseph Bank and Trust Company, <br /> payment for which will be made to the Trustee for the account <br /> of the City. <br /> Section 8. The provisions of this ordinance and the <br /> aforementioned documents shall constitute a contract binding <br /> between the City and the holders of said Economic Development <br /> Revenue Bond, and after the issuance of said Economic Develop- <br /> ment Revenue Bond this Ordinance shall not be repealed or <br /> amended in any respect which would adversely affect the rights <br />
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