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2001-08 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION LINE OF CREDIT NOTES
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2001-08 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION LINE OF CREDIT NOTES
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3/2/2016 3:12:44 PM
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Resolution/Ordinance
Res Ord Num
2001-08
Res Ord Title
PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $10,000,000 GENERAL OBLIGATION LINE OF CREDIT NOTES TO PAY THE COSTS OF REDEVELOPMENT PROJECTS AND PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID NOTES
Approved Date
3/5/2001
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� ' <br /> Taxability to a variable rate per annum equal to the Prime Rate. If there is a change in the Code, <br /> or the regulations promulgated thereunder or a final decree, judgment or order of any court or <br /> administrative body (whether state or Federal) (other than an Event of Taxability) which takes <br /> effect after the execution of the Ordinance and which changes the effective yield on this Note, <br /> including, but not limited to, changes in federal income tax rates, the interest rate on this Note <br /> shall increase accordingly to compensate for such change in the effective yield, all as more fully <br /> set forth in the Ordinance. The effective interest rate per annum on any Note, however, shall <br /> never be more than the lesser of the maximum rate set forth in the Ordinance or allowed by <br /> applicable law. <br /> This Note is subject to provisions relating to redemption and notice and procedure for <br /> redemption; and such other terms and provisions relating to security and payment as are set forth <br /> in the Ordinance, to which reference is hereby expressly made, and to all the terms of which the <br /> Registered Owner hereof is hereby notified and shall be subject. <br /> The City may deem and treat the Registered Owner hereof as the absolute owner hereof <br /> for the purpose of receiving payment of or on account of principal hereof and interest due hereon <br /> and for all other purposes, and the City and the Note Registrar shall not be affected by any notice <br /> to the contrary. <br /> ASSIGNMENT <br /> FOR VALiJE RECEIVED, the undersigned sells, assigns and transfers unto <br /> [Here insert identifying number such as <br /> TID, SSN, or other] <br />', (Name and Address of Assignee) <br /> -14- <br />
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