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R99-187 AUTHORIZING THE ISSUANCE AND SALE OF ECONOMIC DEVELOPMENT REVENUE BONDS
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R99-187 AUTHORIZING THE ISSUANCE AND SALE OF ECONOMIC DEVELOPMENT REVENUE BONDS
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4/7/2016 9:29:42 AM
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Resolution/Ordinance
Res Ord Num
R99-187
Res Ord Title
AUTHORIZING THE ISSUANCE AND SALE OF ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1999, AUTHORIZING EXECUTION OF A LOAN AGREEMENT, AN ASSIGNMENT AND AGREEMENT, AND A BOND PURCHASE AGREEMENT
Approved Date
11/1/1999
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(ii) It will do, execute, and perform such actions, things or documents as may be <br /> necessary, including in the opinion of Bond Counsel, to comply fully with all applicable rules, <br /> rulings, policies, procedure, regulations or other official statements promulgated, proposed or <br /> made by the Department of the Treasury or the Internal Revenue Service pertaining to obligations <br /> issued under Section 103 and 141 et seq. of the Code; <br /> (iii) It will, within thirty (30) days of the occurrence of a Deternunation of Taxability, as <br /> defined herein, or otherwise upon request of the Assignee, at its own expense, provide the <br /> Assignee, by registered or certified mail, postage prepaid, return receipt requested, with an <br /> opinion of Bond Counsel to the effect that such a Determination of Taxability has occurred and <br /> setting forth the effective date of such Determination of Taxability; <br /> (iv) It will file of record such documents and take any other steps as are necessary, in the <br /> opinion of Bond Counsel, in order to insure that the requirements and restrictions of this Article II <br /> will be binding upon all owners of the Project. The Company hereby covenants to include such <br /> requirements and restrictions in any document transferring any interest in the Project to another <br /> Person so that such transferee has notice of, and is bound by such requirements and restrictions; <br /> and <br /> (v) It will do or cause to be done all computations, filings and payments required to be <br /> done under Section 148(fl of the Code in connection with the Bonds. <br /> (b) The Issuer hereby represents, warrants and agrees that: <br /> (i) It will not take or pernut, or omit to take or cause to be taken, any action that would <br /> adversely affect the ta�c-exempt status of the interest on the Bonds or the designation of the Bonds <br /> as "Qualified Ta�c Exempt Obligations" under Section 265(b)(3) of the Code and, if it should take <br /> or permit, or omit to take or cause to be taken, any such action, the issuer shall, upon written <br /> request and notice by the Company or the Assignee, take or cause to be taken all lawful actions <br /> necessary to rescind or correct such actions or omissions promptly; <br /> (ii) It will do, execute and perform such actions, things or documents as may be <br /> necessary, in the opinion of Bond Counsel, to comply fuily with all applicable rules, rulings, <br /> policies, procedures, regulations or other official statements promulgated, proposed or made by <br /> the Department of the Treasury or the Internal Revenue Service pertaining to obligations issued <br /> under Section 103 and 141 et seq. of the Code; <br /> (iii) It will file of record upon the request of the Assignee or the Company or upon receipt <br /> of an opinion of Bond Counsel such documents and take any other steps as are necessary, in the <br /> opinion of Bond Counsel, in order to insure that the requirements and restrictions of this Article II <br /> will be binding upon all owners of the Project; and <br /> (iv) In any event, the Issuer shall not be liable for any actions taken as described in (i) <br /> through (iii) above without advance written notice from the Assignee or Bond Counsel. The <br /> Company hereby agrees to indemnify and reimburse the Issuer for all cost and expense incurred <br /> by the Issuer as a result of any such actions taken at the request of the Company. <br /> 19 <br />
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