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Confirming the Sale of $2,300,000 Economic Development Revenue Bonds
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Confirming the Sale of $2,300,000 Economic Development Revenue Bonds
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11/15/2013 1:48:22 PM
Creation date
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/23/1975
Ord-Res Number
5846-75
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the Trustee. Interest joupons attached to the Series 1975 Bonds shall <br />be executed with the facsimile signatures of the Mayor and City Clerk. <br />Section 4. The Series 1975 Bonds shall be issued in compliance <br />with and under the authority of the provisions of the Act, this ordinance <br />and the Indenture. Additional bonds may be issued on a parity with the <br />Series 1975 Bonds in accordance with the provisions and limitations set <br />forth in the Indenture. <br />Section 5. The form, terms and provisions of the Lease are <br />hereby approved and the Mayor and the City Clerk are hereby authorized <br />and directed to execute and deliver the Lease in the name and behalf of <br />the City in substantially the form now before this meeting and hereby <br />approved or with such changes therein as shall be approved by the <br />officers of the City executing the same, their execution thereof to <br />constitute conclusive evidence of their approval of any and all changes <br />or revisions from the form of Lease now before this meeting. <br />Section 6. The Sublease and Warranty Deed in substantially <br />the form now before this meeting, are hereby in all respects consented <br />to and incorporated and made a part hereof. <br />Section 7. The form, terms and provisions of the Indenture <br />which provides the details of and secures the Series 1975 Bonds and <br />prescribes the terms and conditions upon which the Series 1975 Bonds <br />are to be issued, secured, executed, authenticated, accepted and held <br />are hereby approved and the Mayor and City Clerk are hereby authorized <br />and directed to execute and deliver the Indenture in the name and behalf <br />of the City in substantially the form now before this meeting and <br />hereby approved or with such changes therein as shall be approved by <br />the officers of the City executing the same, their execution thereof to <br />constitute conclusive evidence of their approval of any and all changes <br />or revisions from the form of Indenture now before this meeting. <br />This Common Council hereby elects to have the provisions <br />of Section 103(c)(6)(D) of the Internal Revenue Code of 1954, as amended, <br />applied to the $2,300,000 principal amount of Series 1975 Bonds of <br />the City; and that the Mayor and City Clerk be and they are hereby <br />authorized, empowered and directed to take any and all further action <br />which may be required to implement and effectuate such election, <br />- 6 - <br />
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