Laserfiche WebLink
The City shall use its best efforts to comply with any federal procedural requirements which may <br />apply in order to effectuate the designation made by this paragraph. <br />30. Termination of Lease. The City hereby elects to exercise its option under Section <br />10.4 of the Lease with Option to Purchase Agreement between the City and the EDA, dated as of <br />September 1, 1998 (the "Lease") to prepay its Rental Payments (as defined in the Lease) through <br />the Call Date and deposit funds sufficient to refund the outstanding Prior 1998 Bonds on the Call <br />Date. As provided in the Lease, the City hereby determines and declares that upon the issuance <br />of the Bonds, the Lease shall be terminated and the EDA shall have no further right, title and/or <br />interest in and to the public safety facility. The City hereby elects to exercise its option under <br />Section 10.4 of the Lease with Option to Purchase Agreement between the City and the EDA, <br />dated as of September 1, 2001 (the "Lease") to prepay its Rental Payments (as defined in the <br />Lease) through February 1, 2011 and deposit funds sufficient to refund the outstanding Prior <br />2001 Bonds on February 1, 2011. As provided in the Lease, the City hereby determines and <br />declares that upon the issuance of the Bonds, the Lease shall be terminated and the EDA shall <br />have no further right, title and/or interest in and to the City Hall. <br />31. Severability. If any section, paragraph or provision of this resolution shall be held <br />to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, <br />paragraph or provision shall not affect any of the remaining provisions of this resolution. <br />32. Headings. Headings in this resolution are included for convenience of reference <br />only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. <br />The motion for the adoption of the foregoing resolution was duly seconded by member <br />Petryk and, after a full discussion thereof and upon a vote being taken thereon, the following <br />voted in favor thereof Haas, Petryk, Weidt, Klein, and Miron <br />and the following voted against the same: None <br />whereupon the resolution was declared duly passed and adopted. <br />20 <br />2582009v1 <br />