Economic Development Revenue Bonds Romana R Primus M.D. Project

Home Browse Search

Section 4. The Loan Agreement, in substantially the form now before this meeting, is hereby in all respects approved and incor- porated by reference and made a part hereof. Section 5. The sale of the Bonds to First Bank and Trust Company of- -South Bend, South Bend, Indiana- (the "Bond Purchaser "), at a price of $331,000.00, pursuant to an agreement by and between the Issuer and the Bond Purchaser Cthe "Bond Purchase Agreement "), is hereby approved, and adoption by the Issuer of an ordinance approving the terms and provisions of the financing, the forms of the financing documents, and authorizing the issuance of the Bonds is hereby recommended. Section 6. The President of the Commission for and on behalf of the Commission is hereby authorized and directed to do any and all things necessary to effect the execution and delivery of the Loan Agreement, the Indenture, the Bond Purchase Agreement, the Bonds, and the acceptance thereof by the Issuer, the Borrower, the Trustee and the Bond Purchaser, respectively. Section 7. The Secretary of the Commission, for and on behalf of the Commission, is hereby authorized and directed to transmit this Resolution to the Common Council of the Issuer pursuant to a form of transmittal now before this meeting. Section 8. The provisions of this Resolution are hereby de- clared -to be separable, and if any section, phrase or provision is for any reason declared by a court of competent jurisdiction to be invalid or unenforceable, such declaration will not - affect the va- lidity of the remainder of the sections, phrases, and provisions hereof.