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Authorizing $550,000 Economic Development Revenue Bonds - Automatic Molded Plastics Inc. Project)
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Authorizing $550,000 Economic Development Revenue Bonds - Automatic Molded Plastics Inc. Project)
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5/10/2013 10:08:40 AM
Creation date
5/10/2013 9:13:07 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/14/1981
Ord-Res Number
7003-81
Bill Number
93-81
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The Bonds shall be subject to redemption prior to <br />maturity at the times, under the circumstances, in the manner, at <br />the prices, in the amounts and with the effect set forth in the <br />form of Indenture presented to this meeting. <br />The Bonds shall be executed in the name of the Issuer <br />by the manual or facsimile signature of the Mayor, shall be <br />attested by the manual signature of the City Clerk, shall have <br />the corporate seal of the Issuer impressed or reproduced thereon, <br />shall be authenticated by the endorsement of the Trustee thereon, <br />and shall be delivered by the Trustee to the Original Purchaser <br />thereof. The interest coupons appurtenant to the Bonds shall be <br />executed in the name of the Issuer by the facsimile signatures of <br />the Mayor and the City Clerk of the Issuer. Temporary Bonds may <br />be delivered to the Original Purchaser pending preparation of <br />definitive Bonds. Such execution and delivery of definitive <br />Bonds shall take place not later than 90 days after the date <br />hereof. <br />The Bonds shall be issued in compliance with and under <br />authority of the provisions of the Act, this Ordinance and the <br />Indenture. <br />Section 3. The Bonds and the interest thereon shall be <br />limited obligations of the Issuer, payable solely and only from <br />the revenues and receipts derived by the Issuer pursuant to the <br />Loan Agreement and the Note, and shall be otherwise secured as <br />provided in the Indenture and the Loan Agrement, including, <br />without limitation, by the Mortgage, the Security Agreement and <br />the Letter of Credit. The Bonds shall not in any respect be a <br />general obligation of the Issuer, nor shall they be payable in <br />any manner from funds of the Issuer raised by taxation. Such <br />limitation shall be plainly stated on the face of each of the <br />Bonds. <br />The Bonds shall be payable at the principal corporate trust <br />office of the Trustee in the City of Indianapolis, Indiana, and <br />at such other offices as may be chosen pursuant to the Indenture. <br />-5- <br />
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