Laserfiche WebLink
Section 3 . For the purpase of paying the costs incurred <br /> � by the Mortgagor in connection with the acquisition, construction <br /> and equipping of the Project, including necessary expenses inciden- <br /> tal thereto, there are hereby authorized to be issued the revenue <br /> bonds of the Municipality in the aggregate principal amount of <br /> $800, 000, which Bonds shall be designated "Economic Development <br /> Revenue Bonds (Decatur Development Company Project)" (the "Bonds" ) , <br /> and shall be payable as to principal and interest in lawful money <br /> of the United States of America at the principal office of Mercantile <br /> Bank and Trust Company, Kansas City, Missouri, under the provisions <br /> of the Indenture. <br /> The Bonds shall be executed on behalf of the Municipality <br /> by the Mayor and attested by the City Clerk by their respective <br /> manual or facsimile signatures; shall have the official seal of <br /> the Municipality impressed thereon; and shall be authenticated by <br /> Mount Zion State Bank and Trust Company, as Trustee. <br /> The Bonds shall be dated June 1, 1982 ; and shall bear <br /> interest on the unpaid principal amount at a rate not to exceed <br /> thirteen and five tenths percent (13 .5%) per annum and shall <br /> mature in principal amounts as set forth in Exhibit A attached <br /> hereto. <br /> Section 4. The Bonds shall be a limited obligation of <br /> the Municipality payable solely out of the revenues and receipts <br /> to be derived from the Mortgage and the Note. No holder of any <br /> Bond shall ever have the right to compel any exercise of the <br /> taxing power of the Municipality to pay the Bonds or the interest <br /> or pr�mium, if any, thereon and the Bonds shall not constitute an <br /> indebtedness of the Municipality or a loan o� credit thereof <br /> -5- <br />