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Authorizing the City to Issue its Economic Development Revenue Bonds (Whiteford Nationallease Inc Project) $943,650.00
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Authorizing the City to Issue its Economic Development Revenue Bonds (Whiteford Nationallease Inc Project) $943,650.00
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3/27/2013 11:27:46 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/8/1984
Ord-Res Number
7391-84
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issued in registered form; shall be registrable as provided <br />therein; shall be payable in the medium and at the place or <br />places provided therein; and shall be subject to optional and <br />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 Bonds to PACCAR Financial Corp. at a price not less <br />than one hundred percent (100 %) of the principal amount <br />thereof, plus accrued interest, if any. <br />Section 7. The Mayor and the Clerk of the City are <br />authorized and directed to execute and deliver the afore- <br />mentioned 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 Bonds to PACCAR Financial Corp., payment <br />for which will be made to the Bank for the account 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 Bonds, and after the issuance of said Economic Develop- <br />ment Revenue Bonds this Ordinance shall not be repealed or <br />amended in any respect which would adversely affect the rights <br />of said holders so long as any of the principal of said Econo- <br />mic Development Revenue Bonds or the interest thereon remains <br />
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