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Res 1980-054
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Res 1980-054
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Last modified
3/10/2008 10:38:57 AM
Creation date
8/18/2006 1:53:47 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
1980-54
Date
8/11/1980
Volume Book
53
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<br />" <br /> <br />~ <br /> <br />I <br /> <br />v <br /> <br />I <br /> <br />I <br /> <br />'. <br /> <br />, <br /> <br />~\ <br /> <br />, , <br /> <br />(2) '1\) ( JUpeLlte wi lh the COllqJLJny wi Lit re~pect to <br />the issu.mCL' Lllld salt~ of the Bonds, anJ. if arrangements <br />therefol- s.JL isfactor" to the Compdny and the Corporation <br />C.Jn be IIldUe, the Cur-pol-atiun will auLhoriz.e the execution <br />of tillch UOCUlIlellts alld will tuke such further action as lTlay <br />be lIL'ce::;sary oc aJvisable for the authoriz.dtion. issuance <br />and sale of the Bonds and the completion of the Facilities" <br /> <br />(3) To tLlke sllch actions and execute ::;uch documents <br />as IIIdY be llecess.Jry anJ as may be agceed upon between the <br />COlllp.Jny and thL' Corporation to permit the issuance from <br />time La tillle in the future of additional Bonds on terms <br />which sll.:.Il1 be set forth therein.whet her pdri passu with <br />other series of L.Jntb or otherwise, lor the purpose of <br />defrLJying the cost of completions, enlargements. improve- <br />l1lents and e: 11unsions of the Fac i lities, or any segment <br />thereof, as requested by the Company, iJnd within the <br />limitaLions of Section 103(b)(6) of thL: Inlernal Revenue <br />Cod e 0 f 1954, us m.._r"':ed. <br /> <br />(d) The Company and the Corporation will enter into a <br />contract unJer the ternls of which the Company will unconditionally <br />o bl i gat e its elf co pay to t he Co q) 0 rat ion (or a t r u s t:: e e, a s <br />thL case may be) sums sufficient in the aggregate to pay the <br />principdl uf, illten~sc on and reJemption premiullls, if any, <br />togetheJ witll tt-U~lee':, fees and fees of, 'ling dgeuts. with <br />respect Ld the BOlld~J, as and when the salliL become due allu <br />payable. <br /> <br />(e) J'l"uvisions shall be made in each resolution of <br />the Corpuration's Board of Directors providing for issuance of <br />the BonJ,. fur pdyment La [he Corporation from the proceeds of <br />the Bonds of an amuunt e1llldl to all cost::; incurred by it <br />(including legal fees) in connection with the issuance and <br />sale of the llonJ:, <br /> <br />(f) Should no Hands have been issued pursuant hereto on <br />or before five y~ars from the date hereof, the Corporation's <br />obligation to issue Honds shall cease. and the Company shall <br />pay to the Cur~oriJtion an amount equal to all coses, direct <br />and indirel L:. incurred by tlle Cocporation in negotiating <br />contracts hereunJer, in acquiring and cOllstructing facilities <br />and in pcep.Jring for is::>uance of Honds which are not actually <br />issued; anJ the Corporation shall transfet- to the Company good <br />title to all real or persunal property theretofore transferred <br />by the Comp,-lIlY to the Corporation and all other real or personal <br />property acquired by the Corporation with any funJs advanced <br />to the Corpol-ation by the Company herl:unJer, <br /> <br />(g) Upon cUlllpletiun of the acquisition, constt"uction <br />and ilOpnJvement of the Facilities, they ::;11...111 be operated <br />and maintdilll.:J 'JY the Company without cost or expense to the <br />Corpora t j 01\. <br /> <br />, <br /> <br />2 <br />
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