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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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i <br /> The Assignment of Rents and Leases is incorporated herein by reference and a violation of I! <br /> its terms shall be deemed a violation of this Loan Agreement. ; <br /> Section 3.8. Additional Bonds and Notes. <br /> A. Additional Bonds. So long as no Event of Default exists (unless Additional Bonds are ' <br /> being issued to cure such Default), Additional Bonds may be issued under and equally and ratably , <br /> secured by the Project on a parity with the Bonds and any other Additional Bonds, at any time ', <br /> and from time to time, upon compliance with the conditions in this Section, for the purpose of ; <br /> providing funds (i) to pay all or any part of the cost of the acquisition, purchase, construction or � <br /> equipping of additions to or expansions of or remodeling or modification of the Project including, ', <br /> if necessary, costs of issuance and sale of any such Additional Bonds, capitalized interest and a '�, <br /> reasonably required reserve fund, or (ii) for refunding all of the Bonds then Outstanding of any ' <br /> series, including a payment of any premium thereon and interest to accrue to the designated I <br /> redemption date and any expenses in connection with such refunding and provision for a I, <br /> reasonably required reserve fund. Provided, however, that no Additional Bonds shall be issued � <br /> pursuant to this Section until the Company has first obtained the written consent of the Assignee ', <br /> and has filed with the Assignee the consents and notifications required by Section 6.3 of this Loan �', <br /> Agreement. I <br /> I <br /> B. Additional Notes. In the event Additional Bonds are proposed to be issued, the j <br /> Company shall execute an Additional Note or Additional Notes, substantially in the form of ' <br /> Exhibit A hereto, with such alterations, additions or omissions as may be appropriate, evidencing <br /> its obligation to repay amounts loaned to the Company from the proceeds of such Additional <br /> Bonds at such times and in such amounts as are required to pay the principal or, premium, if any, <br /> and interest on, such Additional Bonds. Concurrently with the execution thereof, the Company <br /> and the Issuer shall enter into a Supplemental Loan Agreement to provide for each such additional <br /> loan and the repayment thereof. In addition, the Company and the Issuer shall execute, deliver, <br /> file and record any security instruments deemed necessary or appropriate by the Assignee to <br /> secure such Additional Notes on a parity and equal lien basis with the Note. Such Additional <br /> Notes may be issued only in connection with the issuance of Additional Bonds. <br /> Section 3.9. Interest Rate Adjustment. <br /> In the event the rate of interest payable on the Bonds Outstanding is adjusted pursuant to <br /> the Bond contained in the Bond Resolution, then the rate of interest payable on the Notes shall be <br /> adjusted by a like percentage. <br /> Section 3.10. Supplemental Loan Agreements, Supplemental Mort�a eg s and <br /> Supplemental Assignments of Rents and Leases. <br /> A. Supplemental Loan A.�reements Supplemental Mortga�es or Supplemental <br /> Assi�nments of Rents and Leases Not Re�uiring Consent of Bondholders. The Issuer (upon <br /> request of the Assignee) and the Assignee may, without the consent of or notice to the <br /> Bondholders, consent to the execution of any Supplemental Loan Agreements, Supplemental <br /> 24 <br />
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