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Resolution - #79-47 - 06/11/1979
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Resolution - #79-47 - 06/11/1979
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Resolutions & Ordinances
Resolutions or Ordinances
Resolutions
Resolution or Ordinance Number
#79-47
Document Date
06/11/1979
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(c) the Mortgage; <br /> <br />(d) the Guaranty Agreement; <br /> <br />(e) <br /> <br />(f) <br /> <br />the Lease; <br /> <br />the Lease Assignment; <br /> <br />The forms of the documents listed in (a) through (f) above <br />are approved, with such variations, insertions and· <br />additions as are deemed appropriate by the parties and <br />approved by the City Attorney. <br /> <br />Section 4. AuthorizatiOns. Upon the completion of the <br />Loan Agreement and the Pledge/Disbursement Agreement, <br />approved in Section 3.3 hereof, and execution thereof by <br />the Borrower and the Lender, as .the case may be, the Mayor <br />and the City Clerk shall execute the same on <br />behalf of the City and shall execute the Note'in <br />substantially the form as set forth in Exhibit A attached <br />hereto on behalf Of the City, and shall execute such other <br />certifications, documents or instruments as bond counsel <br />or counsel for the Lender shall require, subject to the <br />approval of the City Attorney, and all certifications, <br />recitals and representations therein shall constitute the <br />certificates, recitals and representations of the City? <br />Execution of any instrument or document by one or more <br />appropriate officers of the City shall constitute, and <br />shall be deemed the conclusive evidence of, the approval <br />and authorization by the City and the Council of the <br />ins'trument or document so executed. In the absence or <br />disability of the Mayor, any of the documents authorized <br />by this resolution to be executed, shall be executed by <br />the acting Mayor, and in the absence of the City <br />Clerk, by such officer of the City who, in the <br />opinion of the City Attorney, may execute such'documents. <br /> <br />Section 5. The Note. <br /> <br />5.1. Form and Authorized Amount of Note. The Note shall <br />be issued substantially in the form set forth in Exhibit A <br />attached hereto and made a part hereof, with such <br />appropriate variations, omissions and insertions as are <br />permitted or required by-this resolution, in the maximum <br />principal amount of $550,000, or so much as may be <br />advanced thereunder in payment of Project Costs. The <br />terms of the Note are set forth in Exhibit A attached <br />hereto, and such terms, including but not limited to <br />interest rate, dates and amount of payment of principal <br /> <br />-5- <br /> <br /> <br />
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