Agenda - Council - 02/26/1979 - Laserfiche WebLink

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3. The form of the Loan Agreement and Indenture referred to in paragraph 1 are approved. The Loan Agreement and Indenture, with such variations, insertions and additions as the executing officers may hereafter deem appropriate, are directed to be executed in the name of and on behalf of the City by the Mayor, whose signature shall be attested by the City Administrator, and the seal of the City shall be affixed to sa~.d documents. The City further approves the general form of the Mortgage, and the execution and delivery of said document to the Trustee shall be a condition precedent to the issuance of the Bonds by the City. 4. The City shall proceed forthwith to issue the Bonds, in the principal amount of $750,000, in the form and upon the terms set forth in the Indenture and Exhibit A attached hereto, which terms are for this purpose incorporated in this resolution and made a part thereof. The Mayor and Administrator are authorized and directed to prepare and execute the Bonds as prescribed in the Indenture and to deliver them to the Trustee, together with a certified copy of this resolution and other documents required by the Indenture, or required by the firm of attorneys approving the legal'ity of the Bonds, for authentication and delivery to the purchasers thereof. Pursuant to Section 475.55, Minnesota Statutes, the Trustee Js hereby appointed authenticating agent of the City for the purpose of authenticating the Bonds prior to their delivery to the purchaser. 1979. Adopted by the City Council this 26th day of February, Approved: .Mayor Atte st: City Administrator Member seconded the above resolution and upon vote being taken thereon the following voted in favor: and the following voted against the same: whereupon the resolution was declared duly passed and adopted.