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RESOLUTION NO. 85-31 <br />PAGE TWO <br /> <br /> 1. The City Council hereby authorizes the issuance <br />and sale of the Bonds pursuant to the procedures specified in <br />the Law in an aggregate principal amount not to exceed Eight <br />Million Five Hundred Thousand Dollars ($8,500,000.00) for the <br />purpose of providing financing for the acquisition, construc- <br />tion and improvement of the Projects as set forth in Exhibit A. <br />Such authorization shall be for the purpose of inducing the <br />Developers to undertake the Projects and, in particular, to <br />do so at the aforesaid respective locations. <br /> <br /> 2. The issuance and sale of the Bonds shall be upon <br />such terms and conditions as may be mutually agreed upon by the <br />City, the Developers and the purchaser of said Bonds and Shall <br />be authorized by resolution Of the Ci'ty Council at a meeting <br />duly held and conducted for such purpose. <br /> <br /> 3. The proceeds of the Bonds shall include such <br />related and necessary issuance expenses, administrative costs, <br />debt service reserves and interest payments as may be required <br />to accomplish successfully the financing. <br /> <br />ADOPTED this 19th day of February , 1985. <br /> <br />ATTEST: <br /> <br /> en 7oC 't Jco nci <br /> <br />Daniel E. Griset <br />Mayor <br /> <br />COUNCILMEMBERS: <br /> <br />Griset Aye <br />Acosta Aye <br />Hart Aye <br />Johnson Aye <br />Luxembourger Aye <br />McGuigan Aye <br />Young Aye <br /> <br />APPROVED AS TO FORM.- <br /> <br /> <br />