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Description:	266 journal of the common council special session issuing the bonds to pay the costs of acquiring constructing and installing the project and issuing the bonds b the project will constitute pollution control facilities as required by the act and the acquisition construction and installation of the project will abate reduce or prevent pollution or remove or treat substances in materials being processed which otherwise would cause pollution as defined in the act when used and will improve and promote the welfare of the area in and for the city c the proposed financing will be of benefit to the health and welfare of the city and complies with the purposes and provisions of the act section 3 pursuant to the act the issuance sale and delivery of the bonds in the aggregate principal amount of not exceeding 4,000,000 is hereby authorized the bonds shall be designated the city of terre haute indiana solid waste disposal revenue bonds series a international minerals & chemical corporation project the proceeds of the bonds shall be loaned to the company to finance the acquisition construction and installation of the project section 4 the bonds shall be issued in fully registered form in the minimum denomination of 100,000 with intregal multiples of 5,000 in excess of such amount shall be executed by the facsimile signatures of the mayor and the city clerk of the city as provided in the indenture shall be dated january 15 1988 shall be numbered as provided in the indenture shall mature on january 15 2003 shall bear interest at a rate not exceeding 10 percent per annum payable semiannually on january 15 and july 15 commencing july 15 1988 shall be subject to redemption prior to maturity upon the terms and conditions set forth in the indenture shall be sold to the underwriter at a price of not less than 97 percent of the aggregate principal amount thereof plus accrued interest thereon from january 15 1988 and shall be subject to such other terms conditions and provisions as shall be set forth in the indenture the official seal of the city shall be impressed or a facsimile of such seal shall be imprinted on the bonds the exact principal amount redemption terms interest rate and purchase price of the bonds shall be set forth in the bond purchase agreement and indenture as executed and delivered by the mayor of the city as provided in sections 8 and 9 of this ordinance section 5 the bonds shall be limited obligations of the city and shall not constitute any debt or liability of the state of indiana or of any municipality therein or any political subdivision thereof or a pledge of the faith or ceredit of the state of indiana or of any such municipality or political subdivision but shall be payable solely from revenues and receipts derived from the loan agreement the issuance of the bonds shall not directly or indirectly or contingently obligate the state of indiana or any muicipality or political subdivision thereof to levy or th pledge any form of taxation whatever therefore or to make any appropriation for their payment and the bonds shall not in any respect be a general obligation of the city the state of indiana or any other political subdivision tereof nor shall they be payable in any manner from funds raised by taxation section 6 if any of the members of the common council of the city or other officers or officials of the city who shall have signed or sealed any of the bonds shall cease to be such members officers or officials before the bonds so signed and sealed shall have been actually authenticated by the trustee or delivered by the city such bonds nevertheless may be authenticated issued and delivered with the dame force and effect as though the person or persons who signed or sealed such bonds had not ceased to be such member officer or and also any such bonds may be signed and sealed on behalf of the city by those persons who at the actual date of the execution of such bonds shall be the proper members of the common council officers and officials of the city although at the nominal date of such bonds any such person shall not have been such member officer or official section 7 the city reserves the right but does not hereby obligate itself to issue additional bonds for the purpose and upon the condition set forth in the loan agreement and the indenture section 8 the loan agreement the indenture the arbitarge regulation agreement and the representation and indemnity agreement are hereby approved in substantially the forms submitted to this meeting and the mayor is hereby authorized and directed to execute acknowledge and deliver the loan agreement the indenture the arbitrage regulation agreement and the representation and indemnity agreement with such changes therein as shall be approved by the parties executing the same such approval of any such changes shall be conclusively established by the execution of such agreement by the mayor of the city as provided above the city clerk of the city is hereby authorized and directed to affix the official seal the city to the loan agreement the indenture and the arbitrage regulation agreement and to attest said seal and the execution of said loan agreement indenture and arbitrage regulation agreement section 9 the bond purchase agreement is hereby approved in substantially the form submitted to this meeting and the mayor is hereby authorized and directed to execute and deliver the bond purchase agreement on behalf of the city in substantially the form presented to this meeting with such changes therein as shall be approved by the mayor such approval of any such changes shall be conclusively established by the execution of the bond purchase agreement by the mayor of the city
Source:	http://indstate.contentdm.oclc.org/digital/collection/cth/id/327
Collection:	City of Terre Haute

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