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AGREEMENT TO ISSUB BONDS <br /> <br /> THIS AGREEMENT, entered into as of , 1984 between the <br />CIT~ OF LAKEWOOD, OHIO, a municipal corporation orEanized and existinE under <br />the Constitution and laws of the State of Ohio ('Issuer') and LAKEWOOD-WARREN- <br />DETROIT PARTNERSHIP, LTD., an Ohio lis~tted partnership duly orEan/zed and <br />validly eXistinE under the laws of the State of Ohio ('Company'), in further- <br />ance of the public purposes of Section 13 of Article VIII, Ohio Constitution, <br />to create or preserve Jobs and employment opportunities and to improve the <br />economic welfare of the people of the State of Ohio under the followinE cir- <br />cumstances: <br /> <br /> A. The Company desires to finance costs of a commercial facility <br />located within CuyahoEa County at 14801-13 Detroit Avenue, Lakewood, Ohio, <br />more particularly described in EXhibit A attached hereto ('Project') within <br />the boundaries of the Issuer; and <br /> B. The Company has requested that the Issuer issue industrial de- <br />velopment revenue bonds or other obliEations pursuant to Chapter 165, Ohio <br />Revised Code, in the maximum agEregate face amount of $1,780,000, ('Bonds') to <br />assist in the financing of the Project, and is agreeable to making payments to <br />the Issuer sufficient to pay all of the principal of and premium, if any, and <br />interest on the Bonds; and <br /> <br /> C. The Issuer is willing to issue the Bonds and desires to obtain <br /> the economic benefits from such Project. <br /> <br /> As an Inducement to and in consideration of the Company's plans with <br /> respect to the Project, the Issuer and the Company agree'as follows: <br /> <br /> 1. The Company shall commence and continue, or cause to be com- <br /> menced and continued, the acquisition, construction, equipping and improving <br /> of the Project as soon as feasible, and the Company will provide, or cause to <br /> be provided, at its own expense, the necessary interim financing to permit <br /> such acquisition, construction, equipping and improving of the Project to com- <br /> mence and continue. Upon the issuance of the Bonds, the Issuer and the Com- <br /> pany will enter into one or ~ore agreements ('Financing AEreement#) with re- <br /> spect to the Project and the financing therefor. The Financing AEreement <br /> shall be in the form of a loan agreement, a conditional or installment sale <br /> agreement or a lease with an option to purchase and may contain such terms and <br /> conditions as provided or permitted under said Chapter 165; provided, however, <br /> that the Financing AEreement shall require payments sufficient to pay the <br /> principal of and premium, if any, and interest on such Bonds as may be issued <br /> with respect to the Project, or portion thereof, which is the subject of such <br /> Financing AEreement and shall contain provisions, which shall be approved by <br /> the Director of Law, requiring adequate supporting documentation from the <br /> Company to be furnished to the trustee or other party responsible for dis- <br /> bursements of the Bond proceeds as a condition of any such disbursement of <br /> Bond proceeds being made. In order to secure the payment of the principal of <br /> and premium, if any, and interest on the Bonds, the Issuer shall also enter <br /> into a trust agreement or an assignment of revenues which shall have such <br /> terms and conditions as may be provided or-perm/tted under said Chapter 165. <br /> Upon request of the purchaser or purchasers of the Bonds, the Company mey give <br /> <br /> <br />