80-139 Ordinance - Laserfiche WebLink

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.,,.v_,~~.., .. ., e_ a~..~ ~e~~~~.,a....,~,.,..~.~ __. ~~, by= taxation. ~~ The payment of the prizZhipal of and an}= premium and interest on such bond shall be made solely and only from the rentals, revenues, and other income, charges and money derived from the lease or other use or disposition of the Project. Such bonds and accompanying documents shall have such terms as shall be approved by Fogg and the Issuer, and the Issuer will deliver such bond to the purchaser thereof designated by Fogg and will cooperate to its fullest extent in consummating the transaction. 3. In order to induce the Issuer to execute and deliver this Agreement and ultimately to issue bands as aforesaid, Fogg hereby agrees to defend, in- demnify and hold Issuer harmless against any and all loss, expense, claims or actions arising out of or connected with issuance of the bond as aforesaid and all proceedings relating thereto. 4. All wages paid to laborers and mechanics employed on the Project shall be paid at the prevailing rates of wages of laborers and mechanics for the class of work called for by the Project, which wages shall be determined in accordance with the requirements of Chapter 165, Ohio Revised Code, for determination of prevailing wage rates; provided that if Fogg undertakes, as part of the Project, construction to be performed by its regular bargaining unit employees who are covered under a collective bargaining agreement which was in existence prior to the date of this Agreement, the rate of pay provided under the applicable col- lective bargaining agreement may be paid to such employees. S. The issuance of the bonds shall be subject to the following conditions set forth below: a. The bond issue in an amount not to exceed $590,000 will be in the form of a Loan Agreement with the Bond being .secured by a first mortgage on the land and building. -3:-