83-110 Ordinance - Laserfiche WebLink

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entity which succeeds to its duties or responsibilities pursuant to or by operation of law. Any reference to a section or provision of the Ohio Constitution or the Act or to a section, provision or chapter of the Ohio Revised Code shall include such section or provision or chapter as from time to time amended, modified, revised, supplemented, or superseded; provided, however, that no such change in the Constitution or laws shall be deemed applicable by reason of this provision if such change would in any way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 of the Issuer or the Company under the Agreement. Unless the context shall otherwise indicate, words importing the singular number shall include the plural number and vice versa, and the terms "hereof", hereby", "hereto", "hereunder", and similar terms, mean this Bond Legislation. Section 2. Determinations of Legislative Authoritv. The Legislative Authority has heretofore determined by the Ordinance duly adopted April 6, 1982, and does hereby re- determine that (a) the Project is a"project" as defined in the Act and is consistent with the purposes of Section 13 of Article VIII of the State Constitution, and (b) the utiliza- tion 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 oppor- tunities and improving the economic welfare of the people of the Issuer and of the State; and (c) the provision of loan assistance in the financing of costs of acquiring, con- structing, equipping and improving the Project, including the financing of the costs thereof, will require the issu- ance, sale and delivery of the Project Bonds. Section 3. Authorization and Terms of Proiect Bonds. It is hereby determined to be necessary to, and the Issuer shall, issue, sell and deliver, as provided and authorized herein and pursuant to the authority of the Act, $2,000,000 aggregate principal amount of Project Bonds for the purpose of making the Loan to assist the Company in the financing of costs of acquiring, constructing, equipping and improving the Project for the Project Purposes. The Project Bonds shall be designated "Industrial Development Mortgage Revenue Bonds (Great Northern Associates I, Ltd. Project)°. (a) Form, Denomination and Date. Each of the Project Bonds shall be issued as a single instrument in fully regis- tered form, shall be numbered and in the respective denomi- nations set forth in subsection (c) hereof and shall be dated as of September _, 1983. 6