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Authorizing City of South Bend Issue its Economic Revenue Bond (3300 Sample Street Associates) $2,000,000.00
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Authorizing City of South Bend Issue its Economic Revenue Bond (3300 Sample Street Associates) $2,000,000.00
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3/18/2013 3:02:01 PM
Creation date
3/18/2013 3:01:58 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
5/28/1985
Ord-Res Number
77461-85
Bill Number
32-85
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ment, in which case the per annum interest rate shall equal one <br /> percent ( 1%) in excess of the New York City Prime Rate of <br /> interest adjusted monthly on the 10th day of each month, shall <br /> be in the denominations of Five Thousand Dollars ($5, 000 . 00) or <br /> integral multiples thereof; shall be issued in registered form; <br /> shall be registrable as provided therein; shall be payable in <br /> the medium and at the place or places provided therein; and <br /> shall be subject to optional and mandatory prepayment as pro- <br /> vided therein. <br /> Section 6 . The Mayor and/or the Clerk of the City are <br /> authorized and directed to sell said Economic Development Reve- <br /> nue Bond to St. ,Joseph Bank and Trust Company at a price not <br /> less than one hundred percent ( 100%) of the principal amount <br /> 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 consumma- <br /> tion 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 /> -5- <br />
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