89-100 Ordinance - Laserfiche WebLink

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functions. Any reference to a section or provision of the Ohio Constitution or to a section, provision or chapter of the Ohio Revised Code or the Charter of the Issuer shall include such section or provision or chapter as from time to time , modified, revised, supplemented, or superseded; provided, that no such change in the Constitution or laws shall be deemed applicable by reason of this provision if such change would in any way constitute an impairment of the rights or obligations of the Issuer or the Holders of Project Bonds under this Bond Legislation or with respect to the Project Bonds. Unless the context shall otherwise indicate, words importing the singular number shall include the plural number, and vice versa. The terms "hereof", "herein", "hereby", "hereto", "hereunder", and similar terms, mean this Bond Legislation as a whole and not any particular section or subsection. Words of the masculine and neuter genders shall be deemed and construed to include correlative words of the masculine, feminine and neuter genders. Section 2. Determinations of Le islative Authority. It is hereby determined that (a) the Project is a "project" as defined in the Act and is consistent with the purposes of Section 13 of Article VIII, Ohio Constitution; (b) the proposed use of the Project is in furtherance of the purposes of the Act and will benefit the people of the Issuer and of the State by creating and preserving jobs and employment opportunities and improving the economic welfare of the people of the Issuer and of the State; and (c) the provision of loan assistance in financing costs of the Project will require the issuance, sale and delivery of the Project Bonds in the principal amount of $1,410,000. Section 3. Authorization and Terms of Project Bonds. (a) Purpose and Desi nation. The Issuer shall issue, sell and deliver the Project Bonds in the principal amount of $1,410,000 for the purpose of making a loan to assist the Borrower in financing the costs of acquiring, constructing, installing, improving, furnishing and equipping the Project for the Project Purposes. The Project Bonds shall be designated "Adjustable Rate Industrial Development Revenue Bonds (Therm-All, Inc. 1989 Project)." (b) Form and Numbering. The Project Bonds shall be initially issued in fully registered form, shall be exchangeable in the manner and on the terms provided in the Indenture, and shall be numbered as determined by the Trustee. The Project Bonds shall be in the denominations permitted or required by the Indenture, shall be dated as provided in the Indenture and shall bear interest from their respective dates. (c) Maturity. The Bonds shall mature on August 1, 2004, subject to redemption as described in the Indenture. - 10 -