89-076 Ordinance - Laserfiche WebLink

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• WHEREAS, the Project will create or preserve jobs and em- ployment opportunities for residents of the Issuer and improve the economic welfare of the Issuer and its people; and WHEREAS, it is the desire of the Issuer that such added jobs and employment opportunities be provided at the earliest possible moment and that the economic improvement produced by the acquisi- tion, construction, improvement, installation and equipping of the Project occur at the earliest possible time. W- I- T- N- E- S- S- E- T- H: 1. Borrower shall commence those activities necessary to provide the Project as soon as feasible, and may provide or cause to be provided, at his own expense, the necessary interim financ- ing to permit the Project to commence and continue. Borrower further agrees that upon the issuance of the industrial develop- ment revenue bonds of the Issuer hereinafter mentioned, Borrower will execute a loan agreement with the Issuer and such other agreements relating to the Project as may be required. Borrower will make, or cause to be made, payments under such agreements sufficient to pay the principal of and any premium and interest on such bonds and such additional payments as may be required or provided by law or the bond ordinance and to pay all taxes and special assessments, if any, and whatever sums may be required for operation, maintenance and depreciation of the Project. The parties hereto agree that Borrower shall be reimbursed from the proceeds of such bonds for costs incurred directly or indirectly for or in connection with the construction, acquisition, installation and equipping of the Project whether such costs -2-