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Last modified
7/17/2007 9:18:53 AM
Creation date
4/25/2005 12:19:51 PM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
7680
Resolution Title
$900,000 Commercial Development Revenue Note of 1984, Series D
Resolution Date Passed
12/26/1984
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<br />2-2. The Note. <br /> <br />The Note shal1 be dated as of the date of delivery <br />and shall be payable at the times and in the manner, shall bear <br />interest at the rate, and shall be subject to such other terms <br />and conditions as are set forth therein. <br /> <br />2-3. Execution. <br /> <br />The Note shall be executed on behalf of the City by <br />the signatures of its Mayor and City Manager and shall be <br />sealed with the seal of the City. In case any officer whose <br />signature shall appear on ,the Note shall cease to be such <br />officer before the delivery of the Note, such signature shall <br />nevertheless be valid and sufficient for all purposes, the same <br />as if he had remained in office until delivery. In the event <br />of the absence or disability of the Mayor or the City Manager, <br />such officers of the City as, in the opinion of the City <br />Attorney, may act in their behalf, shall without further act or <br />authorization of the City Council execute and deliver the Note. <br /> <br />2-4. Delivery of Note. <br /> <br />The offer of the Lender to purchase the Note upon the <br />terms recited herein and in the Loan Agreement, at a price <br />equal to the total principal amount of the Note, is found to be <br />reasonable and advantageous to the City and is accepted. <br /> <br />Before delivery of the Note there shall be filed with <br />the Lender the following items: <br /> <br />(1) an executed copy of each of the following documents: <br /> (A) the Loan Agreement; <br /> (B) the Pledge Agreement; <br /> (C) the Mortgage; <br /> (D) the Assignment of Rents and Leases; <br /> (E) the Disbursing Agreement; <br /> (F) the Letter of Credit; and <br /> <br />(G) a cost certificate signed by the Borrower <br />certifying the use of the proceeds of the Note. <br /> <br />17 <br />
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