Ordinance 1982-764 - Laserfiche WebLink

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(g) there is no litigation pending or, to the best of its knowledge, threatened against the Ci ty r,e 1 a tin g to the Project or to the Bond, Bond Purchase Agreement, Loan Agreement, or Assignment or questioning the organization, powers, or authori- ty of the City. ( h) to the best of its knowledge, the execution, delivery and performance of the City's obligations under the Bond Purchase Agreement, the Loan Agreement, the Bond, and the Assign- ment have been fully authorized by all requisite action and do not and will not violate any law, any order of any court or other agency of government, or any indenture, agreement, or other instrument to which the Ci ty is a party or by which it or any of its property is bound, or be in conflict with, result in breach of, or co n s tit ute ( with due notice or lapse of time or both) a default unde r any such indenture, agreement or other instrument. ( i ) no member of the City Council of the City of Louisville having acted upon this Ordinance in his or her offi- cial capacity: ( i ) has a direct or indirect interest in the Project, Bond Purchase Agreement, Loan Agreement, Assignment, Deed of Trust, or Bond, ( i i) owns any interest in the Project or the Borrower, (iii) is a partner or employee of the Borrower, (iv) will be involved in supervising the completion of the Project on behalf of the Borrower, or (v) will receive any commission, bo nus, or other remuneration for or in respect to the Project, the Loan Agreement, the Assignment, the Deed of Trust, or the Bond. ( j ) The City, pursuant to Section 9. 12 of the Loan Agreement, hereby preserves the op t ion to i ss ue, at its discre- tion and subje ct to its review process, upon the request of the Borrower and the approval of the Lender, such Additional Bonds as are necessary to complete the Project, provide funds for improve- ments to the Project, or to refund or advance refund any Bonds then outstanding. Section 6 . Form and Execution of Bond. The Bond shall be signed by the manual signature of the Mayor, shall be se al ed with an impression of the corporate seal of the City, and - 10 -