OCR Text |
Show and the Project, approving ap-proving the form of and directing . the publication of a Notice of Bonds to be Issued; repealing resolutions or portions thereof in conflict with said Resolution and authorizing and approving ap-proving any and all other matters and actions necessary of incidental to the foregoing matters, transaction and Project. Dated this 2Jth day of July. 1981. Jacqueline Bulloch Cedar City, Utah Recorder Published in the Iron County Record July 30, 1981. NOTICK OK REGULAR MKKT1NC. OK THE CITY COUNCIL OK CEDAR CITY, IRON COUNTY, UTAH PUBLIC NOTICE is hereby given that the City Council of Cedar City, Iron County. Utah will meet in regular public session at the offices of the City Council in the City Council Room at 43 North 3(io West Street, Cedar City. Utah, commencing at (1:00 o'clock p.m. on Thursday. Thur-sday. August (i, 1981. The agenda lor the meeting consists in part of the following: Opening Prayer. Approval of Minutes. Consideration and adoption of a Resolution authorizing and providing for the issuance and sale by-Cedar by-Cedar City, Iron County, Utah of its Industrial Development Revenue Bonds in the principal amount of Three Million Dollars $3,000,000) (the Bonds") for the purpose of pay ing all or part of the cast of acquiring and constructing a commercial com-mercial shopping facility ior the general public i including, without limitation, the land thcrelore, building and improvements and related fixtures and lcrsonal property) (the "Project") and leasing said Project (with options to purchase) to Skaggs Companies, Inc., a I iclaware corporation ithe'Company-'); prescribing the form of the Bonds and authorizing the manner of their sale, execution and delivery; approving and authorizing the execution of a Lease and Agreement (the "Lease and Agreement") between bet-ween Cedar City and the Company for the lease of the Project to the Company, approving and authorizing the execution of a Mortgage and Indenture In-denture of Trust (the "Indenture") between Cedar City and First Interstate Bank of Utah, pursuant to which the Bonds will be issued and secured; approving and authorizing the execution of a Bond Purchase Agreement ( the "Bond Purchase Agreement") k'tween Cedar City and Nationwide Insurance Company, Columbus, Ohio, pursuant to which the Bonds will be purchased pur-chased from Cedar City; appointing First Interstate In-terstate Bank of Utah as trustee under the Indenture In-denture and as Bond Registrar Paying Agent; approving and authorizing the execution of a letter from Cedar City to the Internal Revenue Service electing to have the provisions of Section 103 (b) Ki) (D) of the Internal Revenue ( 'ode of 19."4, as amended, apply to said issue of Bonds; authorizing the execution of said Bonds and all other certificates and documents, including the acceptance of an Inducement Letter from the Company, and the performance of all acts and other matters required in connection with said transaction and the Project, stating the pledge of the State of Utah under Section 11-17-13, Utah Code Annotated 1953, as amended; directing that true copies of this Resolution, the Lease and Agreement, the Indenture, In-denture, the Bond Purchase Pur-chase Agreement and the Guaranty Agreement pursuant to which payment of the Bonds will be guaranteed by American Stores Company, Com-pany, a Delaware corporation, cor-poration, be filed with the Cedar City Recorder; approving and ratifying ail acts heretofore taken with respect to the Bonds |