HomeMy Public PortalAbout074-1981 - First Mortgage Revenue Bonds - West Realty Company ProjectORDINANCE NO. 74-1981
AN ORDINANCE AMENDING THE PROVISIONS
APPLICABLE TO THE CITY OF RICHMOND
ECONOMIC DEVELOPMENT FIRST MORTGAGE
REVENUE BONDS, SERIES 1981 (CITY -
WEST REALTY COMPANY PROJECT) AND
OTHER DOCUMENTS RELATED THERETO
WHEREAS, the Common Council of the City of Richmond (the "Common
Council") has heretofore adopted Ordinance No. 8-1981,
on March 16, 1981, authorizing the issuance of the City
of Richmond Economic Development Revenue Bonds, Series
1981 (City -West Realty Company Project) (the "Bonds")
and the entering into by the City of Richmond (the
"City") in a Loan Agreement, dated as of February 1,
1981, between the City and City -West Realty Company
(the "Company") (the "Loan Agreement") and a Mortgage
and Indenture of Trust, dated February 1, 1981, among
the City, the Company, and The Second National Bank
of Richmond, as Trustee (the "Indenture"); and
WHEREAS, the Company and the holders of the bonds are requesting
the City to approve an amendment to the terms of the
bonds and the terms and provisions of the Loan Agree-
ment and Indenture; and
WHEREAS, the Common Council is willing to consent to such
amendments.
NOW THEREFORE, be it ordained by the Common Council of the City
of Richmond, Indiana, as follows:
SECTION 1. The findings and the determinations of the
Common Council, set forth in the Ordinance referenced above, are
hereby confirmed and adopted, except as hereinafter provided.
SECTION 2. The Common Council approves the entering
into by the City in a First Amendatory and Supplemental Loan
Agreement and Mortgage and Indenture of Trust, among the City,
the Company, and the Second National Bank of Richmond, as Trustee,
in the form attached hereto, and authorizes the Mayor and Clerk
to execute and deliver on behalf of the City the First Amendatory
and Supplemental Loan Agreement and Mortgage and Indenture of
Trust in substantially the form presented hereto with such
changes as are acceptable to the Mayor, such acceptance to be
evidenced by his signature.
SECTION 3. The terms and provisions of the Loan Agree-
ment, the Indenture, and the Bonds are hereby deemed to be
amended as provided in the First Amendatory and Supplemental
Loan Agreement and Mortgage and Indenture of Trust.
SECTION 4. The Mayor and Clerk are authorized to
execute and deliver the Bonds to the Second National Bank of
Richmond, as Trustee, which Trustee is directed to hold the
newly executed Bond and exchange the same with the holders of
the Bonds upon receipt of the originally executed Bond.
SECTION 5. The Mayor and Clerk are hereby authorized
and directed in the name of and on behalf of the City, to execute
any and all instruments, perform any and all acts, approve any
and all matters, and do any and all things deemed by them, or
any of them, to be necessary or desirable in order to carry out
the purposes of this Ordinance (including the preambles hereto),
and the issuance, sale and delivery of the Bonds.
- 2 -
SECTION 6. This Ordinance shall be in force and
effect from and after its adoption and approval as provided
by law. This Ordinance shall constitute a contract between
the City and the holders of the Bonds.
PASSED and ADOPTED by the Common Council of the City of Richmond,
Indiana, this / -r day of (k,, 1981.
President of Common Council
ATTEST
City Clerk
PRESENTED by me, JoEllen Trimble, City Clerk, to thef, Mayor of
the City of Richmond, Indiana this a day of 71�'
1981.
71ty ' Jerk
APPROVED by me, Clifford J. Dickmn, Mayor of the City of Richmond,
Indiana, this ,�'_.:si day of 4_ jK,-z, , 1981.
MayW i
ATTEST:
City Clerk \
i