HomeMy WebLinkAbout1988-OR-21MO.
ORDINANCE CONSENTING TO CERTAIN ACTIONS
APPLICABLE TO THE CITY OF JEFFERSONVILLE
ECONOMIC DEVELOPMENT REVENUE BONDS
(SELLERSBURG STONE COMPANY, INC. PROJECT)
AND OTHER DOCUMENTS RELATED THERETO
WHEREAS, the City of Jeffersonville, Indiana ("City") has
heretofore adopted Ordinance No. 85-OR59 on October 19, 1985,
authorizing the issuance of the City of Jeffersonville Economic
Development Revenue Bonds, (Sellersburg Stone Company, Inc.
Project) and the entering into a Mortgage and Loan Agreement and
Trust Indenture dated as of October 31, 1985, ("Mortgage and
Indenture") between the City and Sellersburg Stone Company, Inc.
("Company") and First Midwest Bank and Trust n/k/a Citizens
Fidelity Bank and Trust Company~ Indiana ("Bank"); and
WHEREAS, the Company wishes to amend the Mortgage and
Indenture to exclude a portion of the real estate contained in
Exhibit B attached to this ordinance; and
WHEREAS, the Company is requesting the City and the Citizens
Fidelity Bank and Trust Company ("Bond Holder") to execute such
amendments, releases and other documents that may be necessary to
release the real estate as set forth in Exhibit B from the lien
from the Mortgage dated October 31, 1985, and recorded October 31,
1985, in Mortgage Drawer 17, as Instrument No. 11528 in the office
of the Recorder of Clark County, Indiana.
NOW, THEREFORE, BE IT ORDAINED by the Common Council of the
City of Jeffersonville, Indiana, as follows:
Section 1. That the City approves the Amendment to Mortgage
and Loan Agreement and Indenture of Trust attached hereto.
Section 2. The Mayor and the Clerk-Treasurer are hereby
authorized and directed in the name of and on the behalf of the
City to execute any and all instruments, perform any and all acts,
approve any
them, or any
carry out the
hereto).
Section 3.
and all matters, and do any and all things deemed by
of them, to be necessary or desirable in order to
purpose of this Ordiance (including the preambles
and after its adoption and approval as
This Ordiance was adopted by
6th day of June, 1988.
This Ordiance shall be in force and effect
provided by law.
from
the City of Jeffersonville on the
COMMON COUNCIL OF THE CITY OF
JEFFERSONVILLE, INDIANA
ATTEST:
By:
Presented to me as Clerk-Treasurer to
day of June, 1988.
the Mayor on this 6th
Approved by me on this 6th day of June, 1988.
ATTEST:
(SEAL)