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AUG - 1 0 - 9 � TH1._t 1 � : 28 Eti• ANg � FROEHL I CH P . 06 <br /> A. The Munici�ality represents and intends: <br /> 1. Pursuant to the provisions of the Act, the <br /> Municipality is authorized to issue its induetrial <br /> development revenue bonds in order to provide furzds to <br /> acquire and install the Project and to pay necessary <br /> expenses incidenta], thereto. <br /> 2. The Municipality intends, subject in all respects <br /> to the provisions and requirements of the Act and a sale of <br /> the bonds on terms sattsfactory to and as arranged by the <br /> Borrower, to use its best efforts to authorize, issue, sell <br /> and deliver it9 revenue bondg, to be ieaued in one or more <br /> series in an aggreqate principa� amount not exceedinq <br /> $3,000,000, the exact amount to be fixed by ordinance ar <br /> xesolution of the Municipality at a later date and agreed to <br /> by the Sorrower, but not to exceed the cost of the Project, <br /> including expenses incidental thereto, as esti�ated at the <br /> time of iaauance of auch revenue bonds, and apply the <br /> proceeds therefrom to the payment of qualifyinq costs of the <br /> Project, provided that prior to the issuance and delivery of <br /> such revQnue bond9 there shall have been entered into by aiid <br />' between the Borrower and the Municipality appropriate <br /> financing aqre�ments upon terms xhich will comply wfth the <br /> gzoviaions of the Act and which wi11 pzovide for the payment <br /> by the Borrower of amounts which wi11 be sufficient in the � <br /> aqgregate to enable the Municipality to pay when due the <br /> principal of, premium, if any, and interest on such reverzue <br /> bonds. <br /> 3 . Tha financinq of the Project by t2:e Munfcipality ie <br /> for a proper public corporate puzpose a:�d ��Ze financing <br /> thereof for the Borrower is necessary to implement the <br /> public purpoaos en�unerated in the Act. <br /> B. The Borrow�: represent�r and Satenda: <br /> 1. The Project will create or retain empioyment in the <br /> Municipality. In the event the revenue bonda are <br /> ntax-e�empt", the Project wi11 at ail times be a <br /> ^manufacturinq facility^ und�r Section 244(a) (12) of the <br /> internal Revenue Code of 1986, as amended (the "Code") . <br /> 2. If the terms of , the praposed revenue bonds, <br /> including the rate of intereet thereon, o£ the Municipality <br /> are eatisfactory as so arranged by t�:e Borrower, the <br /> Borrower will enter into financing agzeemen�s with the <br /> Municipality which will comply with the provisions of the <br /> Act and which will provide for payments by the Borrewer <br /> which will be sufficient in the aggregate to enab2.e the <br /> Municipality to pay the principal of, premium, if any, and <br /> interest on �uch revenue bonda. <br /> -2- <br />