1933 RES CITY COUNCIL AUTHORIZED IN RES NO 1895 PROCESSING OF GRANT APPLICATION

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. ' ~ . . , . _ - . : -5- 5. The Grantee/6orrotiqer shall have the sole authority and full responsibility, without recourse to the Federal Government or any ' cf its agencies, for the settlement and satisfaction of all contractual and administrative issues arising out of this grant and/or loan. 6. Except for such aspects as, but not 7imited to, zoning, building permits, and recording requirements, this Grant, Loan or Grant and Loan shall be governed by and ccnstrued under Federal 1 alv. . By acceptance of the Offer of Government assistance, the Grantee/Borrower represents that it has not oaid, and also, - agrees not to pay, any bonus or commission for the purpose of . obtaining an approval of its application for this assistance. : C. Loan (Bond and/or «ote) Requirements 1. Qonds and/or Notes a. The Grantee/Borrower shall initiate and prosAcute to completion all proceedings necessary to the authorization, ' issuance, and sale of the Bonds and/or Notes to the . security ther-eof. bJhen said proceedings have been completed to the point of, but not including, the delivery of the Bonds and/or Notes to the Government, the Grantee/Qorrovrer rnay file a requisition requesting the Government to purchase the Bonds and/or Notes. 7he requisition shall be supported ~ ' by such data as the Government shall require to determine ' whether the Government is obligated under the provisions of this Agreement to honor such requisition. If the Government ' , is so obligated, it will purchase the Bonds and/or Notes ~ covered by such requisitions, vrithin the limitations, hoivever, specified in -lhis agreement. ~ . b.- The Grantee/Borrower shall furnish the Government a ' transcript of proceedings for the authorization, issuance, sal~e and security of the Bonds and/or Notes evidencing that ' the Bonds and/or Notes, when delivered and paid for wi71 constitute binding and legal obligations payable and secured in accordance t•ri th thei r tenor and that al l proceedi rigs for the financing and the acquisition, construction and develop- ment of the project preliminary to the delivery of the Bonds andJor hates to the Government have occurred in due time, form, and manner, as required by lativ. c. In 1:he event that the Government, pursuant to its bid, is requested to purchase all or any part of the Qonds and/or Notes, the Grantee/Borrower sha17 deliver upon closing one ~ or more Bonds and/or Notes in principal amount(s) satisfac- tory to the Government, registered as to principal and interest in the name of the Governmeni;.