84-060 Ordinance - Laserfiche WebLink

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,,??, ? i ? WHEREAS, the Project will create or preserve jobs and employment 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 thap such added jobs and employment opportunities be provided at Ithe earliest . possible mome nt and that the economic improvementI produced by the acquisition, construction, improveme nt, installation and equipping occur at the earliest possible time; W- I- T- N- E- S- S- E- T- H: 1. Borrowe r shall comme nce those activities necessary to provide the Proje ct and shall provide or cause to be providi?fd, - at its own expense, the necessary interim financing to permit the Project to commence and continue. Borrower further agrees that upon the issuance of the Industrial Developme nt First Mort- gage Revenue Bonds of the Issuer hereinafter mentioned, Borrower will execute a lease or loan agreement with the Issuer and such other agreements relating to the Project as may be required. Borrowe r wil l make, or cause to be made, payme nts unde r such agreeme nts sufficient to pay the principal of and any premium and interest on the Bonds and such additional payme nts as may be required or provided by law and the bond ordinance to pay all taxes and special assessments, if any, and whatever sums may be required for operation, maintenance and depreciation. The part- ies hereto agree that Borrower shall be reimbursed from the pro- ceeds of the Bonds for costs incurred directly or indirectly for or in connection with the acquisition, construction, improve- me nt, installation and equipping of the Project whether such costs shall be incurred prior to, at, or after delivery of the Bonds. 2. The Issuer will, subject to the requirements and pro- visions of law, enact the legislation necessary to authorize the -2-