ORDINANCES & RESOLUTIONS 1983 - Laserfiche WebLink

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I Section I. It is hereby found that the financing of the economic development facilities referred to in the Loan Agree- ment approved by the Mooresville Economic Development Commis- sion and presented to this Town Council, the issuance and sale of revenue bonds, the loan of the proceeds of the revenue bonds to Kendrick Memorial Hospital for the acquisition and construc- tion of such facilities and the equipping thereof, the payment of the revenue bonds by the note payments of Kendrick Memorial Hospital under the Loan Agreement, Mortgage and Security Agree- ment, Bond Purchase Agreement and Trust Indenture complies with the purposes and provisions of I.C. 36-7-12 and will be of benefit to the health and welfare of the Town of Mooresville and its citizens. Section 2. The final forms (subject to technical, clarify- ing or non-substantial changes or modifications or changes nec- essary to conform said documents to this Ordinance only) of the Loan Agreement. Mortgage and Security Agreement, Bond Purchase Agreement, Note and Trust Indenture approved by the Mooresville Economic Development Commission are hereby approved (herein collectively referred to as the "Financing Agreement" referred to in I.C. 36-7-12), and all such documents shall be incorpor- ated herein by reference and shall be inserted in the minutes of the Town Council and two copies thereof shall be kept on file for public inspection in the office of the Clerk-Treasurer pursuant to I.C. 34-1-5-4. Section 3. The Town of Mooresville shall issue its Econo- mic Development First Mortgage Revenue Bonds, Series 1983 (Ken- -2-