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Issue ite Economic Development Revenue Bonds Series 1984 (Mittler Supply Inc Project) $1,800,000.00
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Issue ite Economic Development Revenue Bonds Series 1984 (Mittler Supply Inc Project) $1,800,000.00
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Last modified
3/27/2013 1:40:21 PM
Creation date
3/27/2013 1:12:27 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/22/1984
Ord-Res Number
7392-84
Bill Number
108-84
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to be evidenced by said Promissory Notes, (iv) the repayment of <br />said loan by the Company pursuant to said Loan Agreement, <br />Mortage and Security Agreement, and said Promissory Notes, and <br />(v) the securing of said Economic Development Revenue Bonds by <br />said Loan Agreement, Mortgage and Security Agreement and said <br />Trust Indenture. <br />Section 5. The City shall issue its Economic Develop- <br />ment Revenue Bonds, Series 1984 (Mittler Supply, Inc. Project), <br />in the aggregate principal amount of One Million Eight Hundred <br />Thousand Dollars ($1,800,000.00) for the purpose of procuring <br />funds to loan to the Company in order to finance the acquisi- <br />tion and construction of such facilities, as more particularly <br />set out in said Loan Agreement, Mortgage and Security Agree- <br />ment, which Economic Development Revenue Bonds shall be payable <br />as to principal and interest solely from the payments made by <br />the Company on its aforesaid Promissory Notes in the aggregate <br />principal amount of One Million Eight Hundred Thousand Dollars <br />($1,800,000.00) which will be executed and delivered by the <br />Company to evidence said loan, from other sources under said <br />Loan Agreement, Mortgage and Security Agreement, and as other- <br />wise provided in said Trust Indenture. Said Economic Develop- <br />ment Revenue Bonds shall never constitute general obligations <br />of, indebtednesses of, or charges against the general credit of <br />the City. Said Economic Development Revenue Bonds shall be <br />executed by the manual or facsimile signatures of the Mayor and <br />the Clerk of the City; shall be executed and delivered on or <br />about the date on which the Bonds are purchased; shall be dated <br />as of the date on which the Bonds are purchased; shall be in <br />the form of a Series 1984 A Bond, a Series 1984 B Bond and a <br />Series 1984 C Bond in the principal amounts of $100,000.00, <br />
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