HomeMy WebLinkAboutNo. 0114 authorizing sale, issuance, delivery of preliminary loan notes in the aggregate principal amount of $585,000, the execution/delivery of project temp. loan note no. 4 in connection with project IND R-29H^ 3080a .
( 5-61)
I
L
I
Resolution #114.
RESOL
ION AUTHORIZIPIG -TIU3 SALE, ISSUANCE, AND DELIVERY
-
OF PRELIMINARY
LOAN NO'ri-,S IN THE AGGRrGATE PRINCIPAL
'
AMOUNT
`or- : i6 a C(I , THE EXECUTION OF
REQUITION
AUMENT NO , AND THE E) CUT.1 N
AND DELIVERY
OF PROJECT TL7�AN NOM N0. ' .4
'
IN CO?
CTION WITH PROJECT NO..,
1
mom
(herein i
j
called,
the
"Loc
.
ze Agency",) tas en erect into a contrac as; of the -
S�aY
��"'"
f
� 9-- numbered Contract No. II. i
R,49
ch
to
etHer wi
an su lemen s thereto or amendments,inoal ica ons, or '
y�pp�
waivers
of
any provisions
thereof, is herein called the "Loan and Grant. ,
j Contract
")
with the
United States of America (herein called the "Government ")
acting]
d throng
the Housing and home Finance 'Administrator , p+oviding, in }
part,.tor
Project
emporary Loan by the Government to the Local Public Agency j
under
Titl`
I of the!
Housing,. Act of, (Public Law 171::- 81st Congress) a
r
approv
not to�exc
d J
y 15, 19
d $14,•
9 , as amended, in an amount outstanding`at any one time
to aid the Local Public Agency n its
Y
! undertakin
and Carr
.
g ou o a certain : slum. clearance' end urbanl'
redevel
nt c
heir a ►!
{ a11e the 'Project) des #gusted Project
f.
ii No.
'
! • which. is more fully identifted�in'the Lean and Grant
o, it
Contra: d
f'
No*
r the rr_�,,.I,,.�e==mt
�,I.�
hats pursuant -to R
�, P equisitireement
E
with
the Pub lie- Agency dated as of the day of
k;
19 herein called the "out stand.ing" Plij. u=se io n
Agre
a e'
ion account said Project Temporary. Loan on the
of
..
! : 19 , which Project ,Temporary Loan.
4
! paymen
the Preliminary
h
been pre
ge or' h ent�o ` the I�('ineipal of and interest upon
Notes ( s) o� the Public Agency which
II y ;
f
f
�
li� mature
II the "Quits
;on
he
ding re
d ey -o , 19 � and are herein .called
minary Loan o
es ; an
i
ii
1.
purchase
o
, pursu
the
advertise*ent for the receipt of proposals for the
Series Preliminary
r calls
of Loan Notes - ,(:herein - sometimes
")
€
j
$
in
Loan 1�trtes of the Local Public Agency aggregating
'
I !
which appeared in a Notice of Sale. published. in the
i
1, iesues- of the.. ,. r
19
in the- City#
an in the , 19
F
;.
asue:
of. odd
New
a y
Prelirain
yer. n he City -of New York propas s or a pxi chase
Loan Dotes in the form approved by the Local Public
A6er�eY
mere
received,
opened, and canvassed at the time and place mentioned in
LL_
K«�
� \
� \
\«
G \
t<�
>.
\sf \/\ � BY VSP
�
Sec tit. Es4 such note shell be dated the day of
'
None
of ibe
New Preliminary
Loazf Notes she1.1 bp vP-IJd until. after the bank or
!
trust;
company
at wlhich
it is payable shall have sigr!ed the agreement, appearing
on each
duch note
.to act as 'paying agent thereof. Each of the New Preliminary
�!
Loan
,Not
.s shall b
signed in the name of the Lpcsl Public Agency by the
Ot
011W
and shall have the
corpora
se o
V impressed thereon and attested by the
whereof, and said officers are hereby authorised
y
an
re
e o cause
sai -notes to be' properly executed.
Section
5 °. Each
of. the New Preliminary Loan Notes shall be issued in
'
f
substan
y theora.
aP the note hereto attached and marked "Exhibit A.
Sec
ion 6.
a Agreement entitled "Requisition Agreement No: "
II
(here
n
ome es
ailed the "New Requisition Agreement! which has been
j
!
exec
by the of
icers of the Local Public Agency, and has been presented to
and
ad
before th
meeting, axed the execution thereof, are hereby fully
ratified
confirme
and approved. Said New Requisition Agreement, when
executed
by.the C}o►ernnent,
is hereby declared to be 'and is hereby assigned by
the Local
Public
ency for the benefit of the holder or holders 4from, time to
time
!of
he New Pr
imLnary Loan Notes, and the proceeds of the Project
Temp or
Loan Note
executed pursuant to Section 7 hereof are hereby irrevocably'
pledged,
first, to�'the
;payments at maturity, of the principal of and interest on
the -New
reliminaxr
Lo�z�t Notes issued pursuant to this Resolution.
r
;Sec
ion 7.
a and at 00 CL�,Ot `
are hereby authorized and directed to prepare and '—
II
execute
he Projec
'Temporary Loan Note, in the principal amount of
!
"oam
a escribe in-the New Requisition Agreements
the 'issu
nce o wh
c has heretofore been authorized bf a certain basic
Note
pr
iding for the issuance of certain Project Temporary
`
Loan!Not's
in Conn
ction With Project No. 24 and providing
for the
ecurity f�
r the payment thereof, and for other purposes, duly adopt d
by tta
cal Public
Agency on.the day of
f
a,
Said
knot
shall be''desiF;nated
"Project Temporary Loan Note " ;' shall be num Bred
! No.
; shall
be dated the day of A , 19 ;
shal
e
r interes
froan the date of the acceptance of the Local. Public Agency's
delivery
thereof apd
the payment therefor,by the Goverru"ent; shall bear a
t
stet
men
at the . fpot
thereof in substantially tile following: form:
"Del
very of this note was accepted and payment therefor
L
made
-on the -day of 19 .
UNITED STATES OF AHERIGA
Housing and Home Finance Administrator
�f
l T�t�e