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85-96 PROVIDING FOR THE FINANCING BY THE CITY OF DECATUR, ILLINOIS, OF AN INDUSTRIAL PROJECT IN ORDER THAT PERSHING DEVELOPMENT COMPANY MAY BE PROVIDED WITH FACILITIES TO ENCOURAGE DEVELOPMENT
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85-96 PROVIDING FOR THE FINANCING BY THE CITY OF DECATUR, ILLINOIS, OF AN INDUSTRIAL PROJECT IN ORDER THAT PERSHING DEVELOPMENT COMPANY MAY BE PROVIDED WITH FACILITIES TO ENCOURAGE DEVELOPMENT
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Last modified
8/29/2016 11:49:39 AM
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8/29/2016 11:49:36 AM
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Resolution/Ordinance
Res Ord Num
85-96
Res Ord Title
PROVIDING FOR THE FINANCING BY THE CITY OF DECATUR, ILLINOIS, OF AN INDUSTRIAL PROJECT IN ORDER THAT PERSHING DEVELOPMENT COMPANY, MAY BE PROVIDED WITH FACILITIES TO ENCOURAGE DEVELOPMENT OF THE CITY OF DECATUR...
Approved Date
12/23/1985
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' extent herein set forth; and that all action on its part for the <br /> issuance of the Bonds has been duly and effectively taken and <br /> that the Bonds are and will be valid and enforceable limited <br /> obligations of the Issuer according to the true intent and <br /> meaning thereof. <br /> The Issuer covenants that it will execute, acknowledge <br /> and deliver such instruments and other documents as the <br /> registered holders and owners of the Bonds, the Assignee or the <br /> Purchaser may reasonably require for the better assuring, <br /> granting, pledging and assigning unto the Assignee the interest <br /> of the Issuer in the Loan Agreement and the Note, the Lease, the <br /> Mortgage and any Lease Assignment as well as the rights of the <br /> Issuer in and to the receipts hereby assigned and pledged to the <br /> payment of the principal installments of and interest on the <br /> Bonds. The Issuer covenants and agrees that, except as herein <br /> and in the Loan Agreement provided, it will not sell, convey, <br /> r�ortgage, encumber or otherwise dispose of any part of the re- <br /> ceipts derived from the Loan Agreement and the Note or of its <br /> rights under the Mortgage, the Lease , any Lease Assignment, the <br /> Loan Agreement and the Note. <br /> The Issuer covenants and agrees that all books and <br /> documents in its possession relating to the receipts derived from <br /> the Loan Agreement and the Note shall at all reasonable times be <br /> open to inspection by the registered owner or owners of the Bonds <br /> or such accountants or other agencies as they may from time to <br /> time designate. <br /> -29- <br />
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