Ordinance 1982-770 - Laserfiche WebLink

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Installm of principal and interest shall be applied first to interest then to principal with a final paym~nt on September 20, 2002 of the then outstanding principal and inter~st (unless th is Bond hall have been previously paid pursuant to the terms hereof); bot the principal of and interest on this Bond are payable in lawful money of the United States of America at the principal office f the First National Bank of Louisville, 833 Main Street, Louis ille, Coloradcl 80027, or at such other place as the Lender may des gnate in writing. . This Bon is issued by virtue of and in full conformity with the Constitu ion of the State of Colorado, and pursuant to the County and Mu icipality Development Revenue Bond Act, Title 29, Article 3, Par 1, Colorado Revised Statutes 1973, as amended, ("Act") and all other laws of the State of Colorado thereunto enabling, for the urpose of fincLncing the cost of developing land within the City as a site for, and the construction and equipping of a manufacturi g building thereon by Larry J. and Karen K. Thompson who will lease said building to Thompson Corporation, doing business as Stairs Incorporated for use as the Corporations principal place of business in manufacturing prebuild woodstairs, with warehouse, s orage and office space to be used by Thompson Corporation (the" roject"). This Bond is further issued pursuant to an Ordinance 0 the City Council of the City of Louisville, finally adopted a d approved on ~~ ~. ,2:' 1982 (the "Ordi- nance"), and is a special, limited obligation of the City, payable sOlely fro ana. secured by a pledge of payments to be made to the City purs ant to a Loan Agreement, dated as of , 1982, and en t red into between Larry J. and Karen K. Thompson - (the "Borrowers" , and the City (the "Loan Agreement"). The proceeds of the B nd will be locaned by the Ci ty to the Borrowers for payment of the Costs of the J?roject, and, pursuant to the Loan Agreement, the B rrowers have covenanted to repay the funds, together with in erest thereon, in installments which will be sufficient to pay, when due, the principal of and interest on this, - 12 - , -- - -- '"-..-.-.---- - .-----", - -------