HomeMy WebLinkAbout1980-14 Approving and Ratifying the Note Purchase Agreement for the Construction Loan Notes,m Series May 1, 1980RESOLUTION 71P:~'I~OVI1`IG rtsrD r~.f':'1'.I. c,Y.~°:G 'I.~II}J
NOTE i'I),~CII7ISE ?~GRIE:•It;;vT :4'uR `~'I3'r,
CO1~S'i'RUCTION T~OAN '~IO'I'I?S, "r.z~li•;S ;,A>.' 1,
1°80, Ur T[IlJ `DOWN .
I3E 7T i:I;~GI~Vi=,D BX `i'IIIr '~'c~ItiN C'DUN(~II~ OF 'gill; 'I'(~;tiN GF 11F,zZ,, COLURAD~:
Sect ~On 1 . I':''c rtals .
A. Ord,_rtanc~ 1'0. 14, `?ci-;r~s of l:~~Q. t:r.irsu«nt t~-o r'~rdinance 1<0.
14, Series of 1980 (Ordinance No. 14}, she Tcwn Council .-authorized end
directed the Town iiariager to negotiate and execute a note purchase
agre~~merlt k'1.t1] t'~,CettCher & Col~;pli^~ ~ l~l~le 'iirC}1;Ser ~ ',. 11 i=he ~~i'i~~C' and ^,n
behalf of the Town, .,hick ~igreerr,ent shall ~:ir].lide f.i::ing the rate of
interest for and the princpal a-lount of she ''own's rons~._ruction T,c~=n
Notes, aE'YlE-'S }'''ay 1, ~~~g~ i :1~~' '~:lt.'_~) ~~'_'O`v __' ~'C~ ~i::3~ ..l:C'fi ~gi" ?~-;-ml?:7t
complies with the requirements of Ordinance No, 14 and provided
further that the agreement is approved and ratified by the Town
Council by a resolution drily adopted at a regular or special meeting
of the Town Council.
B, Note Purchase Agreement. The Town Manager and the Pzarchaser
have present.nd to the ':gown Council an executed ivote t~urchase Agreeir~nt
for the Notes dated ~;ay 1980 (the Not-e Purcr.;.se Agreement) , which
agreement is attached hereto as Exhibit A and incorporated herein by
reference.
Section 2. Approval and Patif ication. '2'he 'town Cou.~ci1 'rrereby
finds and determines that f:he =dote Purc:~r~ase Agrc~_°:rent complies with
the requirements of Ordinance 210. 14 and hereby approves the terirs and
conditions of the Note ~'~lrchase Agreement and ratifies the acl_ion of
the Town Manager in executing the *dote iur~hase :'~:greer~ent in the na:e
and on behalf of the Town.
l?ZTRODUCED, READ, PA~S~;D AID ~:I~OPT•FD this ~.~ day of
ff /~ ~'
1•Say~r
ATTEST:
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