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Issue its Economic Development Revenue Bond (Enterprise Associates LTD $728,300.00
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Issue its Economic Development Revenue Bond (Enterprise Associates LTD $728,300.00
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3/14/2013 9:16:04 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/16/1985
Ord-Res Number
7573-85
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Development Revenue Bond to the Company for the acquisition and <br /> construction of such facilities, such loan to be evidenced by <br /> said Promissory Note, (iv) the repayment of said loan by the <br /> Company pursuant to said Loan Agreement and said Promissory <br /> Note, and (v) the securing of said Economic Development Revenue <br /> Bond under the terms of said Loan Agreement and under said <br /> Trust Indenture. <br /> Section 5. The City shall issue its Economic Develop- <br /> ment Revenue Bond, Series 1985 (Enterprise Associates, Ltd. , an <br /> Indiana Limited Partnership Project) , in the aggregate <br /> principal amount of Seven Hundred Twenty-eight Thousand Three <br /> Hundred Dollars ($728, 300. 00) for the purpose of procuring <br /> funds to loan to the Company in order to finance the <br /> acquisition and construction of such facilities, as more <br /> particularly set out in said Loan Agreement, which Economic <br /> Development Revenue Bond shall be payable as to principal and <br /> interest solely from the payments made by the Company on its <br /> aforesaid Promissory Note in the principal amount of Seven <br /> Hundred Twenty-eight Thousand Three Hundred Dollars <br /> ($728, 300. 00) which will be executed and delivered by the <br /> Company to evidence said loan, from other sources under said <br /> Loan Agreement and as otherwise provided in said Trust <br /> Indenture. Said Economic Development Revenue Bond shall never <br /> constitute a general obligation of, indebtednesses of, or <br /> charge against the general credit of the City. Said Economic <br /> Development Revenue Bond shall be executed by the manual or <br /> facsimile signatures of the Mayor and the Clerk of the City; <br /> shall be dated as of December 1, 1985; shall have a final <br /> maturity date of December 1, 2005; shall bear interest at a <br /> fixed per annum rate of eight percent (8%) , except in the case <br /> of an Event of Taxability as defined in the Loan Agreement, in <br /> which case the per annum interest rate shall be as set forth <br />
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