11-25-1981 Council Agenda - Laserfiche WebLink

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RLH 10/19/81 2 -2. The Note. The Note shall be dated as of the date of delivery, shall be payable at the times and in the manner, shall bear interest at the rate, and shall be subject to such other terms and conditions as are set forth therein. 2 -3. Execution. The Note shall be executed on behalf of the City by the signatures of its Mayor and City Clerk and shall be sealed with the seal of the City. In case any officer whose signature shall appear on the Note shall cease to be such officer before the delivery of the Note, such signature shall nevertheless be valid and sufficient for all purposes, the same as if had remained in office until delivery. 2 -4. Delivery of Note. Before delivery of the Note there shall be filed with the Lender (except to the extent waived by the Lender) the following items: (1) an executed copy of each of the following documents: (A) the Loan Agreement and Assignment of the Loan Agreement; (B) the Mortgage; (C) the Assignment of Leases and Rents; (D) the Disbursing Agreement; (E) a Cost Certificate signed by the Borrower certifying the use of the proceeds of the Note. (2) an opinion of Counsel for the Borrower in scope and substance satisfactory to Bond Counsel as to the authority of the Borrower to enter into the transaction and other related matters; (3) the opinion of Bond Counsel as to the validity and tax exempt status of the Note; (4) such other documents and opinions as Bond Counsel may reasonably require for purposes of rendering its opinion required in subsection (3) above or that the Lender may require for the closing.