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Agenda - 06-24-1986
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Agenda - 06-24-1986
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10/11/2016 2:43:46 PM
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BOCC
Date
6/24/1986
Meeting Type
Regular Meeting
Document Type
Agenda
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4. General Provisions_ <br /> (a) Since it is anticipated that the Acquisition of <br /> the Industrial Project will commerice prior to the sale of <br /> the industrial development revenue bonds and the Company <br /> knows and acknowledges that the Authority will have no funds <br /> available to meet the costs of the_. Industrial Project other <br /> than those derived from the sale of the industrial <br /> development revenue bonds, the Company agrees that it will <br /> advance from time to time all funds necessary for the <br /> Acquisition of the Industrial Project, and such funds when <br /> so advanced shall be deemed funds advanced on behalf of the <br /> Authority; provided, however, that the Authority shall not <br /> by virtue of such advances or otherwise through this <br /> Memorandum of Agreement acquire .any property interest in the <br /> Industrial Project whatsoever. To the extent that the net <br /> proceeds derived from the sale of the industrial development <br /> revenue bonds are sufficient for• such purpose, the Authority <br /> agrees to repay from such net proceeds to the Company all <br />; s funds so advanced promptly after the sale of the industrial <br />:.s <br /> development revenue bonds. <br /> ? (b) The Authority and- the Company agree that the <br /> V <br /> Company shall provide all services incident to the <br /> Acquisition of the Industrial Project, including, without <br /> 9:. limitation, the preparation of __plans, specifications and <br /> contract documents, the award of contracts, the inspection <br /> I <br /> 1 7. - <br />
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