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$1,000,000 Economic Development Revenue Bonds Dayton-Hudson Corp
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$1,000,000 Economic Development Revenue Bonds Dayton-Hudson Corp
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5/9/2013 9:20:24 AM
Creation date
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/26/1981
Ord-Res Number
6987-81
Bill Number
111-81
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in this Bond Ordinance, and the City Clerk is hereby directed to <br />insert them into the minutes of the Common Council and to keep <br />them on file. <br />Section 5. Sale of the Bonds. The Mayor and City Clerk <br />of the City are hereby authorized and directed to sell the Bonds <br />to or upon the order of the Underwriter, pursuant to the Bond <br />Purchase Agreement at a price of 98.5% of par value plus accrued <br />interest to the date of delivery and payment. Receipt by the <br />Trustee of payment for the Bonds shall constitute payment to the <br />City of the purchase price for the Bonds. <br />Section 6. Bond Purchase Agreement. In order to provide <br />for the commitments of the City to sell the Bonds to the Underwriter, <br />the Mayor shall execute and deliver in the name of and on behalf <br />of the City, a Bond Purchase Agreement in substantially the form <br />submitted to this Common Council, which is hereby approved in all <br />respects. <br />Section 7. Indenture. In order to secure the payment <br />of the principal of and interest on the Bonds, the Mayor and City <br />Clerk shall execute, acknowledge and deliver, in the name and on <br />behalf of the City, the Indenture in substantially the form submitted <br />to this Common Council, which is hereby approved in all respects. <br />Section 8. Loan Agreement. In order to provide for the <br />loan of the proceeds of the Bonds to acquire, construct and install <br />the Project and the payment by the Borrower of an amount sufficient <br />to pay the principal of and premium, if any, and interest on the <br />Bonds, the Mayor and City Clerk shall execute, attest and deliver <br />in the name and on behalf of the City a Loan Agreement in substan- <br />tially the form submitted to this Common Council, which is hereby <br />approved in all respects. <br />10 <br />
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