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Home My WebLink About1984-OR- 106com o com c o]m cE g+-OR-_ Z.P_f _ of jeffersonville to issue.,its .... ~T~. ORDINANCE authorizing the~;~ (Mark J. Strobel Pr~%Y~00~n ~ ~r~'~__ment Mortgage Revenue ~u~ ~ Thousand Dollars · 'Economic Devemup _. ~f Five Hundred Four%ee~ct theretO- the principal amouuu. ~4.~ other actions in and approving and autnO~ .... omic Development Commission has _~_ ~ fersonvtlle Econ _ __~ Development CommissiO~ WHEREAS, ~n~ ~f ~ jeffersonville ~conum*~ - :--ilities for Marm .... in~ the proposed fin~nC ~ City Plan Connn~ss*w~ ~ con~ ~ -~ ~he jeffersonV***~ j. Strobei, a~ opportunity to comment thereon; ~o-ment Commission after a ~ jeffersonville Economic ~eve~ ~ ted a Resolution on that WHEREAS, the - - -~^r 28 198~, a~Op ~din~ that the P e which Resolution ha ~ .... lonment facilities.°~= =~H hat such financing o~ ce~%.rnoseS and provisions o~ ~ ..- economic stability ~ with the ~ r .... lth prosper~, · -d financing wild.be o~f u~ City of jeffersonvii£e an~ and general welfare o WHEREAS, the jeffersonville Economic Development Commission has approved the final forms of the Loan Agreement, including the Note attached thereto, the Mortgage and Trust Indenture and the Bond Purchase Agreement by Resolution adopted December 28, 1984, which Resolution has been transmitted hereto; NOW, THEREFORE: BE IT oRDAINED BY THE COMMON cOUNCIL OP THE cITY OF jEFFERSONVILLE: SECTION 1. It is hereby found that the financing of the economiC development facilities referred to in the Loan Agreement, preVioUsly approved by the jeffersonville Economic Development Commission and presented to this Common Council, the issuance and sale of the mortgage revenue bonds, the loan of the net proceeds thereof to Mark J. Strobel, for the acquisition, construction and equipping of said facilities and the repayment of said loan obel to be evidenced and secured by a promissory note of Mark ros erity, economic stability by Mark J- Str ' ~ - ~fit to the health, P .~ ~ ts citizens and Ji Strobel, will_be o%~e%~-City of jeffersonVl~j~ ~ i and general welzare -- ~nd .rovisions of lC 36-~ complies with the purpos~ ~ SECTION 2. The forms of the Loan Agreement, including the Note attached theretO, the Mortgage and Trust Indenture and the Bond Purchase Agreement approved by the jeffersonville Economic Development Commission.are hereby approved and all such documentS shall be incorporated herein by reference and shall be inserted in the minutes of the Common Council and kept on file by the Clerk of the Council. SECTION 3. The City of jeffersonville shall issue its Economic Development Mortgage Revenue Bonds (Mark J- Strobel Project) in the principal · ~nn% ~he "Bonds") for Pourteen Thousand Do% ar !S%4 r%Tfl,' n order to pay amonnt of Piv funds to loan to e ntpping of the the purpOse oz ~ ~ ~ ~ construction ~ ~ ~n the Loan Agre ~h~ -cost of acqutSzt~o~, -~re narttcularly set ou~ ~=~erence- The Bonds and interest solely from ~--~al premium, If anY~_:nrv note which will be and-Mortgage and Trust .~ ~ navahle as to prz~*~e~[nhe1 on its promm~--~ .... re said loan wmxz ~ ~ ~- made by Mark o ..... - ' ~ to evidence and s~ ~rovided in the paymenu~ . . ..... ~ bv Mark J- ~tro~*, -~-t or as otherwzs~ ~ executed and uezm¥=~ Ider the Loan agreem=~ , shall never and from other sourCeS u~ The Bonds constitute g the general credit of the City of jeffersonVtlle' _ er are authorized and directed ~ ~ The Mayor and Clerk Treas~r ~ the Bond Purchase ~g~r~+e~me~ sECTION ~' - -~aser set forth ~ ~me Commerciai sell the BondS to the P~BondS of 80% of t~e ~mn~ of the principal t~ a rate of interest on ~ ~ and at a price oi amount thereof plus ~ are authorized and directed ~-~he Loan Agreement, the to exe~t the Purchase Agreement approved herein on behalf of the City of jeffersonville and any other documents which may be necessary or desirable to consummate the ed herein. The signatures of The · ~,,m~n~ the Bonds auth~riz ~ he facsimile signatur~s-~ transaction, xnc ..... r on the BonUS m~f - = ~.,erv of the Bon~S ~u the · , -~ and Clerk-Treasure ~ ~- orranme for tme ue~- ~ named in the ma~ --- ~s authorize~ ~ ~ ~ made to the Trustee Clerk-Treasur~ * purchaser thereof, payment for which will be MortKage and Trust Inde --m the Mortgage and Trust -- - ~slons of this ordinance ~ ~ binding between the sECTION 6. The proV* 1 constitute a con3r~onville' Indiana, City of jeffersonvli j. Str~bel Project), and ort age Revenue Bonds (Mark shall not be repealed or Economic Developm~t^~M sa~d Bonds, this Ordinance rights of such holder after the issuanc~ u~ adversely affect the amended in any respect that would so long as the Bonds or the interest thereon remains unpaid- SECTION 7. This OrdinanCe shall he in full force and effect from and after compliance with the procedures required by law. ATTEST: C--- R~erk~reasurer the ~.~ nted ~ day by me to t~ 1984. ApProved and Signed bY me °n this ~-~ ~ day of