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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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Last modified
12/3/2009 11:51:05 AM
Creation date
8/20/2009 12:22:25 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/10/2009
Ord-Res Number
9951-09
Bill Number
56-09
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10 and -15. Interest, if any, on the 2009 BAN will be payable on June 1 and December 1 of <br />each year, commencing December 1, 2009. The 2009 BAN will be in the aggregate principal <br />amount of Dollars ($ ). Subject to Section 2.05 and 2.06 herein, <br />the 2009 BAN will mature on April 15, 2013. <br />(c) The Bonds will be subject to redemption by the Participant as provided in the <br />Authorizing Instrument. The Loan, and the Bonds evidencing it, will be subject to payment by <br />the Participant as provided in this Agreement. <br />(d) The form and other terms of the Bonds will be in conformity with the Authorizing <br />Instrument. <br />(e) The principal maturity ofthe 2009 BAN is subject to Loan Forgiveness (which <br />evidences a portion of the Loan made hereunder) and shall be deemed forgiven and discharged <br />on April 15, 2013 to the extent permitted by the American Recovery and Reinvestment Act, <br />provided however that there is not then existing any default under this Agreement and the <br />Participant has otherwise complied with the terms and conditions of this Agreement (including <br />having timely made principal and interest payments on the remainder of the maturities of the <br />2009 Bonds). <br />Section 2.03. Disbursement Conditions. Each of the following shall be a condition <br />precedent to the disbursement of the Loan or any portion thereof (including from the <br />Construction Fund): <br />(a) (1) With respect to procurement of professional services related to the Project <br />to be paid from Loan proceeds, the Participant shall have complied with applicable State <br />law and SRF Policy Guidelines. (2) With respect to procurement of all other goods and <br />services related to the Project to be paid from Loan proceeds, the Participant shall have <br />complied with I.C. 36-1-12 and SRF Policy Guidelines. <br />(b) No representation, warranty or covenant of the Participant contained in this <br />Agreement or in any paper executed and delivered in connection with the transactions <br />contemplated by this Agreement shall be false or inaccurate in any material respect. <br />(c) The Participant shall undertake and faithfully perform each of its obligations, <br />agreements and covenants contained in this Agreement, the Authorizing Instrument and <br />the Bonds. <br />(d) There shall be available to the Finance Authority uncommitted funds in an <br />amount sufficient to satisfy the Finance Authority's obligations hereunder from the <br />proceeds of the 2009 Recovery Grant or from other sources (including its Purchase <br />Account and Equity Accounts) that the Finance Authority may, in its sole discretion, <br />designate; provided however, once Loan proceeds have been deposited in the <br />Construction Fund, such condition shall be deemed satisfied. <br />B-10 <br />BDDBO l 5738468v1 <br />
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