86-064 Ordinance - Laserfiche WebLink

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or superseaed; provided, however, that no such chanqe shall alter the obligation to pay the Bond Service Charqes in the amounts and manner, at the times, and from the sources provided in this Bond Legislation and the Indenture, except as otherwise herein permitted, or shall be deemeci applicable by reason of this provision it such change would in any way constitute an impairment ot the rights of the Issuer or the Borrowers under the Agreement. Unless the context shall otherwise indicate, words importinq the sinqular number shall include the plural number, and vice versa, any pronoun shall be deemed to cover all gencters, and the terms "herein", "hereof", "hereby", "hereto", "hereunder", and similar terms, mean this Bond Legislation and the Indenture and not solely the portion hereor in which any such word is used. Section 2. Determinations of Issuing Autnority and Approval ot Bond Issuance. Pursuant to Section 165.03 of the Act, the Issuing Authority hereby finds and ctetermines that the Project is a"project" as detined in the Act and is consistent with the provisions of Section 13 of Article VIII, Ohio Constit- ution. The Issuing Authority, as the "applicable elected representative" of the Issuer for the purposes of Section 103(k) of the Coae, hereby approves the issuance of the Bonds in the maximum agqregate face amount of $650,000, the proceeds of which will be used to finance the Project as follows: The Project consists of the acquisition, construction, installation and equippinq of a commercial facility consisting of three adjacent two-story buildings containinq a total of approximately 12,000 rentable square feet to be leased as office space. Tne Project will be located at 28900 Lorain Road, North Olmsted, Cuyahoga County, Ohia and will be owned and operated by Jack F. Boss and Jacqueline E. Boss. Section 3. Authorization of Bonds. It is hereby determined to be necessary to, and the Issuer shall, issue, sell ana deliver, as providea rierein ana pursuant to the autnority of the Act, the Bonds in the aqgreqate principal amount of $650,000 for the purpose of financinq costs of acquiring, constructing, installing and equippinq tne Project, incluaing costs inciaental thereto and of the tinancing thereof, all in accordance with the provisions of the Loan Aqreement and the Bond Purchase Aqreement. The Bonds snall be desiqnated "Economic Development Revenue Bonds (Jack and Jacqueline Boss Project)". -9-