ORDINANCES & RESOLUTIONS 1983 - Laserfiche WebLink

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I , as defined in the Financing Agreement. in which case the rate of interest per annum shall be equal to 21% per annum payable monthly and at a price not less than 100% of the principal amount thereof. Section 5. The Town Board President and Clerk-Treasurer are authorized and directed to execute, attest, affix or im- print by any means the Town seal, where necessary, to the docu- ments constituting the Financing Agreement approved herein on behalf of the Town, and any other document which may be neces- sary or desirable to consummate the transaction, including the bonds authorized herein. The Town Board President and Clerk- Treasurer are hereby expressly authorized to approve any tech- nical, clarifying non-substantial modifications or any change or changes necessary to conform the documents constituting the Financing Agreement to this Ordinance to said documents which take place after the date of this Ordinance with the review and advice of the Town Attorney; it being the express understanding of this Town Council that said Financing Agreement is in final form as of the date of this Ordinance subject to any said changes or modi fications. The approval of said modifications or additions shall be conclusively evidenced by the execution and attestation thereof and the affixing of the seal thereto or the imprinting of the seal thereon; provided, however. that no such modification or addi tion shall change the maximum prin- cipal amount of, interest rate on or term of the bonds as ap- proved by the Town Counci I by this Ordinance wi thout further consideration by the Mooresville Economic Development Commis- -4-