83-152 Ordinance - Laserfiche WebLink

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proceeds of the Project Note to the Owner will benefft the people of the Issuer and of the State by creating or preserving jobs and employment opportunities and improving the economic welfare of the people of the Issuer and of said State; and (c) the amount necessary to finance the costs of or related to the acquisition, construction, improvement and equipping of the Project, including the financing thereof, will require the issuance, sale and delivery of the Project Note in the principal amount of $2,500,000 and hereafter may require the Zssuer's best efforts to issue, sell and deliver Additional Notes on a parity therewith, all of which Notes shall be equally and ratably payable and secured as provided herein. Section 3. Authorization and Terms of Project Note. It is hereby determined to be necessary to, and the Issuer shall, issue, sell and deliver, as provided and suthorized herein and pursuant to the authority of the Act, a Project Note in the aggregate principal amount of $2,500,000 for the purpose of making a loan to finance the costs of acquiring, constructing, improving and equipping the Project to be owned by the Owner and leased to the Lessee for the Project Purpose on the Project Site, including costs incidental thereto and to the financing thereof. Said Project Note shall be designated "Industrial Development First Mortgage Revenue Note (Fairview Enterprises, Inc. Project)". The Project Note shall be initially issued in the single denomina- tion of $2,500,000 (substantially in the form attached hereto as Exhibit A and incorporated by reference herein with such omissions, insertions and variations as are not inconsistent with this Note Legislation and as 10