Ordinance 1988-960 - Laserfiche WebLink

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(d) The Corporation will agree, pursuant to the terms of the Agreements, to pay the insurance and taxes due and payable with respect to the Project; (e) The Corporation will agree, pursuant to the terms of the Agreements, to maintain the Project in accordance with the Act. (f) The Corporation is obligated, pursuant to the terms of the Agreements, to make payments thereunder at such times, and in such amounts, as are sufficient to pay the debt service on the Bonds. (g) The reserve fund will be funded in an amount which is necessary for the retirement of the Bonds and the maintenance of the Project. Section 4. To defray the cost of the Project, to make an initial deposit into the Debt Reserve Fund created by the Indentures and to finance certain costs incurred in issuing the Bonds, there is hereby authorized and created two series of revenue bonds designated "City of Louisville, Colorado Revenue Bonds (Boulder Memorial Hospital Project) Series 1988A," in the aggregate principal amount of $10,000,000, and the "City of Louisville, Colorado Revenue Bonds (Boulder Memorial Hospital Project) Series 1988B," in the aggregate principal amount of $8,000,000, as fully registered bonds in the denominations as described in the Indentures, dated the date of their initial issuance and delivery, and bearing interest as described in the Indenture, commencing in the Unit Pricing Mode, as defined in the Indenture, with an initial Adjustment Date not more than 365 days from the date of initial issuance and delivery of the Bonds. The Bonds shall be payable, shall be subject to redemption and to optional and mandatory tender for purchase prior to maturity, shall be in substantially the form provided in the Indenture, and shall mature on August 1, 2021. Section 5. The forms, terms and provisions of the Agreements, the Boulder Agreements, the Porter Agreements, the Indentures, the Tax Regulatory Agreement and the Bond Purchase Agreement, be, and they hereby are, approved and the City shall enter into the Agreements, the Boulder Agreements, the Porter Agreements, the Indentures and the Bond Purchase Agreement, in the forms of each of such documents presented to the City Council of the City for final adoption of this ordinance, with only such changes therein as are not inconsistent herewith; and the Mayor or Mayor Pro Tern and the -4- 1342K