Laserfiche WebLink
<br />I <br /> <br />NOW, THEREFORE, be it ordained by the Town of Mooresville, <br /> <br /> <br />Indiana as follows: <br /> <br /> <br />Section 1. It will be of benefit to the health and welfare <br /> <br /> <br />of the Town of Mooresville to redeem Economic Development First <br /> <br /> <br />Mortgage Revenue Bonds, Series 1973 (Nice-Pak Products, Inc.) <br /> <br /> <br />in the amount of $1,070,000, through the issuance of Advance <br /> <br /> <br />Refunding Bonds. <br /> <br /> <br />Section 2. The Town of Mooresville, Indiana shall issue <br /> <br /> <br />Economic Development First Mortgage Revenue Bonds, Series 1981 <br /> <br /> <br />(Nice-pak Products, Inc.) in the total principal amount of <br /> <br /> <br />$3,035,000, of which amount $1,040,350 shall be Advance <br /> <br /> <br />Refunding Bonds as authorized under I.C. 18-6-4.5-30 and <br /> <br /> <br />I.C. 5-1-5. <br /> <br /> <br />Section 3. The proceeds of said Advance Refunding Bonds <br /> <br /> <br />shall, along with other monies available, be used to pay the <br /> <br /> <br />principal amounts of outstanding Economic Development First <br /> <br /> <br />Mortgage Revenue Bonds, Series 1973 (Nice-pak Products, Inc.), <br /> <br /> <br />redemption premiums thereon and any costs of refunding. <br /> <br /> <br />Section 4. Said Advance Refunding Bonds shall be in the <br /> <br /> <br />forms attached hereto as Exhibits A, B, and C. <br /> <br /> <br />Section 5. Said Advance Refunding Bonds shall bear <br /> <br /> <br />interest at the following respective rates: <br /> <br /> <br />Forms A and C--at 70% of the Prime Rate of Interest as <br /> <br /> <br />announced from time to time by The Indiana National Bank; <br /> <br /> <br />Form B--at 10% per annum through June 30, 1988 and <br /> <br /> <br />thereafter at 70% of the Prime Rate of Interest as <br /> <br /> <br />announced from time to time by The Indiana National Bank. <br /> <br />Page 2 <br />