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82-67 AUTHORIZING THE CITY TO ISSUE ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1982 (J.G.W. DEVELOPMENT CO.)
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82-67 AUTHORIZING THE CITY TO ISSUE ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1982 (J.G.W. DEVELOPMENT CO.)
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9/15/2016 9:49:39 AM
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9/15/2016 9:49:39 AM
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Resolution/Ordinance
Res Ord Num
82-67
Res Ord Title
AUTHORIZING THE CITY TO ISSUE ITS $2,600,000 PRINCIPAL AMOUNT ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES OF 1982 (THE AMBASSADOR MOTOR INN PROJECT), FOR THE PURPOSE OF PROVIDING FUNDS TO FINANCE THE COST OF ACQUIRING AND RENOVATING A HOTEL
Approved Date
6/21/1982
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. �, _ <br /> a�y � <br /> Bonds upon the terms and conditions as set forth in said form of <br /> Trust Indenture, submitted to and reviewed by the Council of the <br /> City of Decatur on the date hereof, with such changes therein as <br /> snall be approved by the representatives of the City executing <br /> the Trust Indenture, such representatives' signatures thereon <br /> being conclusive evidence of their approval thereof. <br /> Section 5. Authorization of A reement. The City is hereby <br /> authorized to enter into the Agreement, in substantially the form <br /> attached to this Ordinance and marked Exhibit B, under which the <br /> City shall loan the proceeds of the sale of the Bonds to the Com- <br /> pany upon the terms and conditions as set forth in said form of <br /> Agreement, submitted to and reviewed by the Council of the City <br /> on the date hereof, with such changes therein as shall be <br /> approved by the representatives of the City executing the � <br /> Agreement, such representatives' signatures thereon being <br /> conclusive evidence of their approv�l thereof. <br /> Section 6. Execution of Documents. The Mayor of the City <br /> of Decatur is hereby authorized and directed to execute and de- <br /> liver the Trust Indenture and the Agreement, for and on behalf of <br /> and as the act and deed of the City of Decatur. The City Clerk <br /> of the City of Decatur is hereby authorized and directed to at- <br /> test to the Trust Indenture and the Agreement, and such officers <br /> are further authorized to execute and attest, respectively, such <br /> other documents, certificates and instruments as may be necessary <br /> or desirable to carry out and comply with the intent of this <br /> Ordinance. <br /> Section 7. Further Authority. The City shall, and the of- <br /> ficers and agents of the City are hereby authorized and directed <br /> to, take such action, expend such bond proceeds and execute such <br /> other documents, certificates and instruments as may be necessary <br /> or desirable to carry out, and comply with and perform the duties <br /> of the City with respect to the Bonds, the Trust Indenture and <br /> the Agreement. <br /> Section 8. Effective Date. This Ordinance shall take <br /> effect and be in full force from and after its adoption by the <br /> Council of the City of Decatur. <br /> PRESE*ITED, PASSED, APPROVED AND RECORDED this 2� Gt day of <br /> June, 1982 . <br /> �_ ,�!�/'i.� <br /> Elmer W. 4Jalton, Mayor <br /> ATTEST: <br /> � <br /> < <br /> Phyl ' E. ands, City Clerk <br /> -3- <br />
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