HomeMy WebLinkAbout1973-012 Amendatory Loan AgreementRESOLUTION APPROVING AHENDATOR¥ LOAN A~P. EEMEt~
WHEREAS, the City of Chubbuck, Idaho, has heretofore approved and executed a
Loan Agreement in the form of an Offer dated April 13, 1972, and Acceptance dated
May 12, 1972, with the United States of America, Secretary of Housing and Urban
Development, for a loan to provide for the purchase from the Borrower of its
Revenue Bonds in the aggregate principal amount of not to exceed $1,000,000.00,
bearing interest at the rate of 6% per annum;
WHERF. AS, the United States of America, Secretary of Housing and Urban DeveXopm~nt*
has tendered an A~endatory Loan Agreement.incorporatinR certain modifications in the
Loan AEreement, setting out a change in the scope of the project.
WHEREAS, said A~endatory Loan Agreement has been duly read in open meeting,
fully considered in accordance with all pertinent rules o£ procedure and legal require-
ments, and made a part of the records of the City of Chubbuck, Idaho; and
I.~EREAS, it is deemed advisable and in the public interest that said Amendatory
Loan Agreement be approved and its execution authorized;
NOg, THEREFORE, be it resolved by the City Council of Chubbuck, Idaho, that
said Amendatory Loan Agreement be and the same hereby is approved without reservation
or qualification.
BE.IT FURTHER RESOLVED TI~T John O. Cotant Jr.,.Ma~,r , of the City Council
of the City of Chubbuck, Idaho, be and he is hereby authorized to execute said
Amendatory Loan Agreement, and Vera C. Ar~lstrong , the City Clerk
be and ~e is hereby authorized to attest ~h~ execution of said Amendatory Loan
Agreement.
APPEOVED AND ADOPTED THIS 9%h
day of January , 197 3
ATTES ~T~
( S i gna tu"re ) City Clef/]~/
Vera C. Arms%ror~,
(Name and Title - Print)
CITY OF CHUBBUCK, IDAIiO
~Si~nature) /
(Name and Title Print)