|
Section 2. Findings. That the issuance of the Bonds to accomplish the Financing
<br /> Purposes will promote the general health and welfare of the residents of the City and
<br /> surrounding areas.
<br /> Section 3. Loan Agreement. That the City is hereby authorized to enter into the Loan
<br /> Agreement with the University; that the form, terms and provisions of the Loan Agreement
<br /> (including the form of the Note set forth therein) be, and they hereby are, in all respects approved;
<br /> that the Mayor of the City be, and hereby is, authorized, empowered and directed to execute, and
<br /> the City Clerk be, and hereby is, authorized, empowered and directed to attest and to affix the
<br /> official seal of the City to, the Loan Agreement in the name, for and on behalf of the City, and
<br /> thereupon to cause the Loan Agreement to be delivered to the University, such Loan Agreement
<br /> (as executed) to provide for the loan of the proceeds of the Bonds to the University and the use of
<br /> such proceeds for the Financing Purposes in the manner and with the effect therein provided, such
<br /> Loan Agreement(including the form of Note set forth therein)to be in substantially the same form
<br /> now before the City Council or with such changes and revisions therein as the officer executing
<br /> the Loan Agreement on behalf of the City shall approve, her execution thereof to constitute
<br /> conclusive evidence of such approval of any and all changes or revisions therein from the form of
<br /> the Loan Agreement now before the City Council; that from and after the execution and delivery
<br /> of the Loan Agreement, the officials, employees and agents of the City are hereby authorized,
<br /> empowered and directed to do all such acts and things and to execute all such documents as may
<br /> be necessary to carry out and comply with the provisions of the Loan Agreement as executed; and
<br /> that the Loan Agreement shall constitute,and hereby are made,a part of this Ordinance,and copies
<br /> of the Loan Agreement shall be placed in the official records of the City and shall be available for
<br /> public inspection at the office of the City Clerk.
<br /> Section 4. Indenture. That the City is hereby authorized to enter into the Indenture with
<br /> the Trustee; that the form, terms and provisions of the Indenture be, and they hereby are, in all
<br /> respects approved; that the Mayor of the City be, and hereby is, authorized, empowered and
<br /> directed to execute, and the City Clerk be, and hereby is, authorized, empowered and directed to
<br /> attest and to affix the official seal of the City to, the Indenture in the name, for and on behalf of
<br /> the City, and thereupon to cause the Indenture to be delivered to the Trustee, and the Indenture
<br /> shall constitute an assignment and pledge for the security of the Bonds of the revenues and receipts
<br /> to be received by the City pursuant to the Loan Agreement and the Note and an assignment and
<br /> pledge of the other right, title and interest of the City in and to the Loan Agreement and the Note,
<br /> as described in the Indenture (with the exception of certain rights to receive certain payments, to
<br /> indemnity and other rights as specified in the Indenture), such Indenture to be in substantially the
<br /> form now before the City Council or with such changes and revisions therein as the officer
<br /> executing the Indenture on behalf of the City shall approve, her execution thereof to constitute
<br /> conclusive evidence of such approval of any and all changes or revisions therein from the forms
<br /> of Indenture now before the City Council; that from and after the execution and delivery of the
<br /> Indenture, the officials, employees and agents of the City are hereby authorized, empowered and
<br /> directed to do all such acts and things and to execute all such documents as may be necessary to
<br /> carry out and comply with the provisions of the Indenture as executed; and that the Indenture shall
<br /> constitute, and hereby are made, a part of this Ordinance, and copies of the Indenture shall be
<br /> placed in the official records of the City and shall be available for public inspection at the office
<br /> of the City Clerk.
<br /> -3-
<br />
|