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Resolution No. 03-06 (Approved)
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Resolution No. 03-06 (Approved)
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3/28/2019 9:08:40 AM
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EDA
EDA Document Type
EDA Resolution
Meeting Date
09/22/2003
Resolution #
03-06
Resolution Title
Approving Contracts for Private Development and Awarding the Sale of, And Providing the Form, Terms, Coventants, and Directions For the Issuance of Its $638,400 Tax Increment Revenue Note, Series 2004
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When the Note has been so executed, it shall be delivered by the Executive Director to the Owner <br />thereof upon satisfaction of the conditions for delivery under the Agreement. <br /> <br />Section 4. Security Provisions. <br /> <br />4.01. Pledge. The Authority hereby pledges to the payment of the principal of the Note all <br />Available Tax Increment as defined in the Note. <br /> <br />4.02. Bond Fund. Until the date the Note is no longer outstanding and no principal thereof <br />(to the extent required to be paid pursuant to this resolution) remains unpaid, the Authority shall <br />maintain a separate and special “Bond Fund” to be used for no purpose other than the payment of <br />the principal of the Note. Any Available Tax Increment remaining in the Bond Fund shall be <br />transferred to the Authority’s account for TIF District No. 1-10 upon the payment of all principal to <br />be paid with respect to the Note. <br /> <br />Section 5. Certification of Proceedings. <br /> <br />5.01. Certification of Proceedings. The officers of the Authority are hereby authorized and <br />directed to prepare and furnish to the Owner of the Note certified copies of all proceedings and <br />records of the Authority, and such other affidavits, certificates, and information as may be required <br />to show the facts relating to the legality and marketability of the Note as the same appear from the <br />books and records under their custody and control or as otherwise known to them, and all such <br />certified copies, certificates, and affidavits, including any heretofore furnished, shall be deemed <br />representations of the Authority as to the facts recited therein. <br /> <br /> <br /> Section 6. Effective Date. This resolution shall be effective upon full execution of the <br />Agreement. <br /> <br /> <br />SJB-237079v2 <br />C-6 <br />LN140-81 <br /> <br />
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