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Home My Public Portal About011-1989-ORDINANCE RELATING TO THE AMENDMENT OF BOND DOCUMENTS IN CONNECTION WITH ITS ECONOMIC DEVELOPMENT REVENUE BONDS(2) OR11IXAlKE NO. 1 1--1989 AN ORDINANCE OF THE CITY OF RICHMOND, INDIANA RELATING TO THE AMENDMENT OF BOND DOCUMENTS IN CONNECTION WITH ITS $7,000,000 ECONOMIC DEVELOPMENT REVENUE BOND (PALLADIUM PUBLISHING CORPORATION PROJECT), 1983 SERIES A WHEREAS, The City of Richmond, Indiana (the "City,,) is authorized under I.C. 36-7-12 (the "Act") to issue revenue bonds for the purpose of financing economic development facilities, the funds from said financing to be used for the acquisition, construction and equipping of said facilities; and said facilities to be either sold or leased to a company or directly owned by a company; and WHEREAS, pursuant to a loan agreement, dated as of November 1, 1983 (the "Loan Agreement"), by and between the City and Palladium Publishing Corporation (the "Company"), a bond purchase agreement, dated as of November 1, 1983 (the "Bond Purchase Agreement"), by and among the City, Tax -Free Instruments Trust (the "Investor") and Bank One, Richmond, NA, formerly First National Bank of Richmond, as Project Fund Depositary (the "Depositary"), an assignment, dated as of November 1, 1983 (the "Assignment"), from the City to the Investor, a bank bond purchase agreement, dated as of November 1, 1983 (the "Bank Bond Purchase Agreement"), by and among the Company, Lloyds Bank Plc (the "Bank"), as successor to Lloyds Bank International Limited and the Depositary, and a guaranty agreement, dated as of November 1, 1983 (the "Guaranty"), by and between Gannett Co.,Inc. ("Gannett") and the Investor (said documents hereinafte referred to as the "Bond Documents"), the City issued its. Economic Development Revenue Bond (Palladium Publishing Corporation Project), 1983 Series A (the "Bond") in the aggregate principal amount of $7,000,000 and lent the proceeds from the sale of the Bond to the Company and, in return, the Company issued its Note (the "Note"); WHEREAS, pursuant to an Agreement of Amendment, dated as of March 1, 1988 (the "Agreement of Amendment"), by and among the City, the Investor, the Company, the Bank, and the Depositary, and consented and agreed to by Gannett, certain terms and provisions of the Bond and a new Note containing the amended interest rate calculation provision were substituted and the Agreement, the Bond Purchase Agreement, the Bank Bond Purchase Agreement, the Guaranty and the Assignment were amended and modified to reflect said new interest rate calculation provisions; and WHEREAS, the City, the Company, the Investor, the Depositary, the Bank and Gannett desire, pursuant to a Second Agreement of Amendment (the "Second Amendment"), dated as of February 1, 1989, by and among the City, the Company, the Investor, the Bank, the Depositary, Chemical Bank, a New York state banking corporation and Gannett, to amend the Agreement, the Bond Purchase Agreement, the Bank Bond Purchase Agreement, the Guaranty and the Assignment to reflect the substitution of Chemical Bank for Lloyds Bank Plc in its present capacity as purchaser under the Bank Bond Purchase Agreement. The Common Council of the City of Richmond, Indiana DOES HEREBY RESOLVE as follows: Section 1. Capitalized words and terms used in this resolution and not defined herein shall have the same meanings in this resolution as such words and terms are given in the Bond Documents. Section 2. The Common Council hereby approves the form of the Second Amendment that has been presented to the Common Council at this meeting, and the Mayor or the Vice Mayor and the Clerk or any Deputy Clerk of the Common Council are hereby authorized to execute and deliver the Second Amendment, in any number of signed counterparts for and on behalf of the City in substantially such form with such changes therein, additions thereto and omissions therefrom as those executing the Second Amendment shall approve, their execution and delivery thereof constituting the conclusive approval of the Common Council of any changes therein, additions thereto or omissions therefrom. Section 3. The Common Council hereby approves the Second Amendment reflecting the substitution of [Substitute Bank] for Lloyds Bank Plc, in its present capacity as purchaser under the Bank Bond Purchase Agreement, as presented to the Common Council at this meeting. Section 4. The Mayor, the Clerk, and the presiding officer of the Common Council, all of the City, are authorized and directed to take such action and to execute and deliver any other documents, certificates, undertakings, agreements or other instruments as they, with the advice of counsel, may deem necessary or appropriate to effect the transaction contemplated by the Second Amendment. Section 5. This Ordinance shall take effect immediately upon its passage. APPROVED AND ADOPTED THIS 20th day of March, 1989. THE COMMON COUNCIL OF THE CITY OF RICHMOND, INDIANA By ATTEST: DISPOSITION OF ORDINANCE NO. -198 9 RESOLUTION NO. -198 by Common Council Ordinance No. // Resolution No. _ Elstro Lundy Brookbanl. Hankinson McBridq Parkei Morris Paust Hutton Susp. rules Ist read Title only ------------------ Seconded ------ ------ -------- ---------- �— ------ ------ ------------------------ Proof of Publicaton/ ----------------- Seconded ----- ------ ------- -'�� - ---- ----- -_ .. ----- ---------- Move to 2nd read ------ -- - --- - - - - -- Seconded ------ ------ ---- - - -- -------- -- - - ---- ------ ---- -- ------ - --------- Engrossment ------------- ----- ------ ------ -------- ---------- ------ ------ ------ Seconded cr ------ ---------- Susp rules 3rd read ------------------------- Seconded ------ -------- ---------- ------ ------ ------ ------ ---------- Passage ---------- R------------------------------------------------------------------ --------- Rejection a Date Passed 3 ` d6 --4F 41 COMMITTEE ASSIGNMENTS: Committee Date Commitee Hearing Date Reassigned to Council Agenda PUBLICATION DATES: AMENDMENTS: COMMENTS: