My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Confirming the Sale of $2,300,000 Economic Development Revenue Bonds
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
1975
>
Confirming the Sale of $2,300,000 Economic Development Revenue Bonds
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/15/2013 1:48:22 PM
Creation date
11/6/2013 2:46:04 PM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/23/1975
Ord-Res Number
5846-75
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
10
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
0 <br />The Series 1975 Bonds shall be limited obligations of the <br />City as provided in the Act, the principal of and interest on which <br />shall be payable solely from the income, revenues and property of the <br />Project. Neither the State of Indiana nor any political subdivision <br />thereof shall in any event be liable for the payment of the principal <br />of or interest on the Series 1975 Bonds or for the performance of any <br />pledge, mortgage, obligation or agreement of any kind whatsoever of the <br />City, and none of the Series 1975 Bonds nor any of the City's agreements <br />or obligations shall be construed at any time or in any manner to <br />pledge the general credit or taxing power of the City. <br />Nothing in this ordinance or in the Lease, the Sublease or <br />any other tenant sublease, or the Indenture shall be construed as an <br />obligation or commitment by the City to expend any of its funds other <br />than (i) the proceeds of the sale of the Series 1975 Bonds, (ii) the <br />income and revenues derived from the Project, (iii) any proceeds ac- <br />cruing to the City of insurance on the Project, (iv) any proceeds <br />accruing to the City on account of any taking or condemnation of title <br />to the whole or any part of the Project, and (v) any money arising out <br />of the investment or reinvestment of said proceeds, income, revenues or <br />monies. The Bonds shall not constitute a charge, lien or encumbrance, <br />legal or equitable, upon any property of the City except the Project <br />and each Bond issued under the Indenture shall recite that the Bond, <br />including interest thereon, is payable solely from the revenue pledged <br />to the payment thereof and no Bond shall constitute a debt of the City <br />within the meaning of any constitutional or statutory limitation. <br />Section 3. Each of the Series 1975 Bonds shall be executed <br />in the name of the City by the facsimile signature of the Mayor, shall <br />be attested by the City Clerk, shall have the corporate seal of the <br />City impressed thereon and shall be authenticated by the endorsement of <br />- 5 - <br />
The URL can be used to link to this page
Your browser does not support the video tag.