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Agenda - 06-24-1986
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Agenda - 06-24-1986
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Last modified
10/11/2016 2:43:46 PM
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9/22/2016 1:47:14 PM
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BOCC
Date
6/24/1986
Meeting Type
Regular Meeting
Document Type
Agenda
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ARTICLE II <br /> REPRESENTATIONS <br /> Section 2 . 1 . Representations by the Authority. The <br /> Authority represents and warrants as follows : <br /> (a) The Authority is a duly constituted political <br /> subdivision and body corporate and politic of the State <br /> established under the Enabling Act. <br /> (b) Under the provisions of the Enabling Act, the <br /> Authority is duly authorized to enter into, execute and <br /> deliver the Bond Documents to which it is a party, to <br /> undertake the transactions contemplated by the Bond <br /> Documents to which it is a party, and to carry out its <br /> obligations hereunder and thereunder . <br /> (c) The Authority proposes to issue its Bond in the <br /> principal amount of $1, 500,000 to finance all or a portion <br /> of the Cost of Acquisition of the Project , presently <br /> estimated by the Company to equal or exceed $1, 500, 000 . <br /> (d) By duly adopted resolution, the Authority has duly <br /> authorized the execution and delivery of the Bond Documents <br /> to which it is a party and (as security for the Bond) the <br /> endorsement and pledge of the Note, as endorsed without <br /> recourse to the order of the Purchaser, to the Purchaser , <br /> all for the purpose of fostering and encouraging the <br /> development of industrial facilities <br /> order to alleviate unemployment and raise twages tprevalent in <br /> the County. <br /> (e) The Bond will be issued under and pursuant to the <br /> Bond Purchase Agreement and will mature, bear interest, and <br /> have the other terms and provisions set forth in the Bond <br /> Purchase Agreement. <br /> (f) The Authority has obtained from the Board of <br /> Commissioners for the County approval of the issuance G1, the <br /> Bond required by Section 159C-4(d) of the nabling Act, from <br /> the Secretary of the Department of Commerce of the State <br /> approval of the Project required by Section 159C-7 of the <br /> Enabling Act and from the Local Government Commission of the <br /> State the approvals required by Sections 159C-6, 8 and 9 of <br /> the Enabling Act. <br /> (g) The execution and delivery of and performance <br /> under the Bond Documents to which the Authority is a party <br /> 10 . <br />
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