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Authorizing Economic Development Refunding Revenue Bonds Michiana Telecasting Corp
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Authorizing Economic Development Refunding Revenue Bonds Michiana Telecasting Corp
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5/8/2013 11:28:50 AM
Creation date
5/8/2013 10:04:51 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/8/1982
Ord-Res Number
7130-82
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Mayor and Clerk are hereby expressly authorized to approve <br />any modifications or additions to the documents constituting <br />the Financing Agreement which take place after the date of <br />this Ordinance with the review and advice of the City <br />Attorney; it being the expressed understanding of this Common <br />Council that said Financing Agreement is in substantially <br />final form as of the date of this Ordinance. The approval of <br />said modifications or additions shall be conclusively <br />evidenced by the execution and attestation thereof and the <br />affixing of the Seal thereto or the imprinting of the Seal <br />thereon; provided, however, that no such modification or <br />addition shall change the maximum principal amount of, <br />interest rate on or term of the bonds as approved by the <br />Common Council by this Ordinance without further consideration <br />by the Common Council. The signatures of the Mayor and <br />Clerk on the bonds and coupons, if any, may be either manual <br />or facsimile signatures. The Clerk is authorized to arrange <br />for delivery of such bonds to the Trustee named in the Trust <br />Indenture, payment for the bonds will be made to the Trustee <br />named in the Trust Indenture, and after such payment the bonds <br />will be delivered by the Trustee to the purchasers thereof. <br />The Mayor and Clerk shall execute and the Clerk shall deliver <br />the bonds to the Trustee within ninety (90) days of the <br />adoption of this Ordinance. The bonds shall be dated as of <br />November 1,'1982 <br />Section 6. The provisions of this Ordinance shall <br />constitute a contract binding between the City of South Bend <br />and the holder of the Economic Development Refunding Revenue <br />Bonds (Michiana Telecasting Corp. Project), and after the <br />issuance of said bonds, this Ordinance shall not be repealed <br />- 4 - <br />
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