My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1983-071
CBCC
>
Resolutions
>
1980'S
>
1983
>
1983-071
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/28/2023 3:12:28 PM
Creation date
3/28/2023 3:12:04 PM
Metadata
Fields
Template:
Resolutions
Resolution Number
1983-071
Approved Date
09/07/1983
Subject
Authorizing a Letter of Intent & Inducement to Hutchinson Utilities Inc.
to the issuance by the County of Industrial Development Revenue Bonds to finance
the cost of sewage treatment facilities of such corp in the County
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
11
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
a. <br />lie <br />Hutchinson Utilities, Inc. <br />September 7, 1963 <br />Page Two <br />nary general plans and specifications relating to such f._:cilities <br />which are on file in the office of the Clerk of the Governing <br />Body, The bonds will be issued in such aggregate principal <br />amount, mature at such times, bear interest at such rates and be <br />subject to such other terms as shall he agreed upon among you and <br />the Issuer and the bondholders. <br />2. You and the Issuer will erste- into a Loan Agreement, <br />Mortgage and Security Agreement (the "Agreement") which shall <br />provide for a lagan of bond proceeds by the Issuer to you for the <br />purpose of the acquisition, construction and equipment of the <br />Projekt, and you will execute and deliver a promissory note (the <br />"Note"') evidencing the loan. The Agreement shall be assigned <br />either to a bank trustee for the benefit and protection of the <br />bondholders, or to the bondholders. The installment payments to <br />be made by you pursuant to the Agreement and Nate shall be <br />pledged to the payment of the principal of, interest on and <br />redemption premium, if any, applicable to the bonds and the fees <br />and expenses of the trustee, if any. The aggregate principal <br />amount of the bonds shall only be fully sufficient to pay the <br />cost of the Project, the cost and expenses of financing the same <br />and the expenses of you, the trustee, if any, and the Issuer <br />related thereto. <br />3. The Issuer will cooperate in the preparation of the <br />Agreement, the Note, the trust indenture, if any, and the <br />necessary resolutions for the authorization and sale of the <br />bonds. <br />4. Upon delivery of the bonds, the provisions of this <br />proposal and the agreement resulting from its acceptance by you <br />shall have no further effect, and in the event of any incon- <br />sistency between the terms of this proposal and the terms of the <br />Agreement and the Note in the form in which they shall be finally <br />approved by resolution of the Governing Body, the provisions of <br />the Agreement and Note as so approved shall control. <br />5. Upon acceptance by you of this proposal, the Issuer <br />shall keep open and outstanding this commitment and inducement to <br />you for a reasonable time so long as you shall be proceeding with <br />appropriate efforts toward conclusion of any arrangements <br />necessary to the 'Project, and (after finding the Borrower finan- <br />cially responsible as described in paragraph 8 hereof) so long as <br />
The URL can be used to link to this page
Your browser does not support the video tag.