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83-139 Ordinance
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83-139 Ordinance
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Last modified
1/11/2014 12:36:08 PM
Creation date
12/17/2013 3:49:53 AM
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North Olmsted Legislation
Legislation Number
83-139
Legislation Date
12/6/1983
Year
1983
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. ? ? <br />to making payments to the Issuer sufficient to pay all of <br />the principal of and premium, if any, and interest on the <br />Bonds; and <br />WHEREAS, the Issuer is willing to issue the Bonds and <br />desires to obtain the economic benefits from the Project. <br />W I T N E S S E T H• <br />l. The Company shall commence the acquisition, con- <br />struction, installation and equipping of the Project as soon <br />as feasible, and may provide, or cause to be provided, at <br />its own expense, the necessary interim financing to permit <br />such acquisition, construction, installation and equipping <br />of the Project to commence and continue. Upon the issuance <br />of the Bonds, the Issuer and the Company will enter into an <br />agreement (herein czlled the "Financing Agreement") with <br />respect to the Project and the financing therefor. The <br />Financing Agreement shall be in the form of a Loan Agreement <br />and shall contain such terms and conditions as provided or <br />permitted under said Chapter 165; provided, however, that <br />the Financing Agreement shall require payments sufficient to <br />pay the principal of and premium, if any, and interest on <br />the Bonds. In order to secure the payment of the principal <br />of and premium, if any, and interest on the Bonds, the <br />Issuer may also enter into a trust agreement or mortgage <br />which shall have such terms and conditions as may be pro- <br />2
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