My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Authorizing issuance of revenue bonds to evidence a loan from the industrial development fund of the state for Bosch
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
2001
>
Authorizing issuance of revenue bonds to evidence a loan from the industrial development fund of the state for Bosch
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/20/2009 2:40:24 PM
Creation date
9/10/2008 2:59:45 PM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
9/24/2001
Ord-Res Number
9268-01
Bill Number
89-01
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
7
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
NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND AS FOLLOWS: <br />Section 1. The Common Council of the City (the "Common Council") hereby <br />determines to issue the Bonds to evidence the Loan pursuant to I.C. 36-4-6-19 (the "Act") for the <br />purposes set forth in the Application. The Common Council hereby approves of and ratifies the <br />execution and filing by the City of an application with the IDLF for the purpose of requesting that <br />the IDLF make the Loan. The City shall use the proceeds of the Loan solely for the purpose of <br />reimbursing a portion of the purchase price for the Property as set forth above. <br />Section 2. The Common Council hereby authorizes the issuance of the Bonds in <br />the form of the Loan in an aggregate principal amount not to exceed One Million Dollars <br />($1,000,000). The Bonds shall be designated as the "City of South Bend, Indiana, Revenue Bonds, <br />Series 2001E (Robert Bosch Corporation Project)." The Bonds shall be issued in fully registered <br />form in the denomination of $1.00 or integral multiples thereof not exceeding the aggregate principal <br />amount of the Bonds to be issued. Principal of and interest on the Bonds shall be paid pursuant to <br />the schedule set forth as an exhibit to the Bonds. Interest shall be calculated on the basis of a 360- <br />day year. The Bonds shall be sold by private, negotiated sale at a price of par to the IDLF pursuant <br />to the Loan Agreement. The Bonds shall be dated and have an original issuance date as of the date <br />of the Loan. The Bonds shall mature on a date not later than fifteen (15) years from the date of <br />original issuance thereof and shall bear interest at a rate not to exceed three percent (3.0%) per <br />annum. The Bonds maybe redeemed by the City in whole and not in part on any date at par plus <br />accrued interest to the redemption date. The Bonds shall be issued junior to the City's Revenue <br />Bonds, Series 2001 C and Series 2001 D (Robert Bosch Corporation Project) (the "Prior Bonds") <br />::ODMA~II-IODMA~SBIMAN1;t03506;3 -3- <br />
The URL can be used to link to this page
Your browser does not support the video tag.