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82-047 Ordinance
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82-047 Ordinance
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1/22/2019 11:58:17 AM
Creation date
12/26/2013 9:16:04 AM
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North Olmsted Legislation
Legislation Number
82-047
Legislation Date
4/6/1982
Year
1982
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the Bonds. 'The Project sha11 be leased by the Company`to <br />the.Lessee, which lease shall be for a term at least as long <br />as the term of the Bonds and shall require rental payments <br />by the Lessee in an amount sufficient to pay the principal <br />of and premium, if any, and interest on the Bonds. In order <br />to secure the payment of the principal of and premium, if <br />any, anc7 interest on the Bonds, the Issuer may also enter <br />into a trust agreement or mortgage which shall have such <br />terms.and canditions as may be provided or permitted under <br />said Chapter 165. Upon request of the purchaser or pur- <br />chasers of the Bonds, the Company shall give and the Issuer <br />or the trustee or mortgagee designatecl under such trust <br />agreement or mortgage shall, on behalf and for the protec- <br />tion_of the holders of the Bonds, accept such other security <br />as may be provided or permitted under said Chapter 165. The <br />Issuer shall not have any financial responsibility with <br />respect to the Bonds or the Project except from any "reve- <br />nues" (as defined in Section 165.01, Ohio Revised Code) <br />derived by the Issuer with respect to the Bonds and the <br />Project. <br />2. Upon receipt of a request from the Company, the <br />Issuer will promptly issue the Bonds in the form of bonds or <br />notes, maturing in such amounts and times, bearing interest <br />at such rate or rates, payable on such dates and containing <br />3
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