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5.2. SR 07-07-2008
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5.2. SR 07-07-2008
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7/3/2008 4:24:37 PM
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7/3/2008 2:45:05 PM
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City Government
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SR
date
6/16/2008
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~o~r~pel ~Zy eer~se ~ the ~,xi~ p~~r off' the its to ~~ the outs~~~~i p~c~pal o ~~~ <br />eve~ue o~~ or ~~~~ i~~~eres~ the~eoa~, or to er~fore p~~ent t~~ereo~` ~.~~s~ a~~ prope~~ ~~' the <br />qty, the ~e~enu~e Boyd h~~i recipe i~ st~btan,~e that the .~~re~ue ~o~s, ineiu~.~~ ~~erest <br />thereon, ire pyabie o~~~~r ror~~ the reve~~tae~ o~'the Pr~jt aid proceeds pieced to ~l~e pa~e~.t <br />thereof, the eve~~ue ~o~ds sh~i~ ~~~ co~stit~~t~ ~. deft off` the its within the e~.in ~~ ~~~~ <br />co~.~itutio~~ai or statutory lin~i~a~io~. <br />~, ~~ is ~~ purpose of this reo~u~~o to evidence the co~~~~i~n~e~.t off` the parties .~ <br />~~xeir i~~te~~tio~~s with respect ~~ the proposed Fro~ect in order that the ~on~pa~r nay procec~ <br />v~itl~o~~t delay with the com~~ence.er~~ of the acquisition a the ~ro~ec~ i~h the ass~.ra~ce that <br />~~~ere ~~ hee~ suffcie~~t "off~eial action" itl~iu the ea~~in~ off` ~~ h~~ernal revenue bode of <br />~ 9~, as a~~e~~~ed, ~~ alio~v for the issuance ~ industriai reven~~e ha~~ds ~in~iudin~, if deen~e~ <br />appro~r~a~e, ~~y in.~eri~~ note or notes to provide temporary ~'ir~ancin thereat to hnance the <br />entire cost ~` the ~'ro~ec~ upon a~ree~eu~ heirs reaci~ed as to the uit~~,ate details of the project <br />a~~d its ~ina~~cin. <br />~. In an.ticipatio~~ of the ~~nal ppro~rai b~ the it~r of the issuance of ~i~e ~.evenue <br />~o~~~.s ~o ~~~a~~ce all or a potion o'the ~rajec~, and in order that cornletio~~ of the ~rojec~ ~~iil <br />~~at he u~~duly delayed when approved, ~i~e o~~npan.y ~ hereby autl~oried to male ~teh <br />e~pendi~~~res and adva~~ces toward payn~c~~~ of that por~ian of the ~~~ ~~ the project to he <br />~"~~7a~~ced ~`ror~ ~i~e proceeds ~` the revenue fonds .s o~~~pan}~ considers ~~ecessary, inciudin <br />~l~e use off' i~~~erin~, short~~e~ ~inancin, subject ~o reibursen~e~~~ franc the proceeds off' the <br />e~re~~~~e on.ds i'ar~d when delivered but i~hout liability on the park o`the pity. <br />P.~ A.~ ~~`ED B~ THE ~T ~~ ~ THE ~~' ~ ~~ ~, <br />~~~~'~, '~~ 7TH ~A~' ~ ,~CJL~, ~~~~. <br /> <br />
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