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86-35 PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX SUFFICIENT TO PAY THE ANNUAL RENT
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86-35 PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX SUFFICIENT TO PAY THE ANNUAL RENT
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Last modified
8/29/2016 10:02:21 AM
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8/29/2016 10:02:19 AM
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Resolution/Ordinance
Res Ord Num
86-35
Res Ord Title
PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX SUFFICIENT TO PAY THE ANNUAL RENT PAYABLE UNDER A LEASE ENTERED INTO AMONG THE DECATUR PUBLIC BUILDING COMMISSION, THE COUNTY OF MACON, AND THE CITY OF DECATUR...
Approved Date
5/12/1986
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, , <br /> the County agree that within thirty ( 30) days they shall promptly <br /> pay their respective portion of any such deficiencies to the <br /> Commission and the Commission shall apply such funds as provided <br /> in the Bond Resolution. <br /> SECTION IV <br /> No Assignment of the City's or County's Obligations <br /> The leasehold rights, duties and obligations of the <br /> City and County as specified in this Lease shall not be assigned <br /> in whole or in part during the term of this Lease, or while any <br /> of the Bonds are outstanding, except that the City or the County <br /> may sublease all or any part of the leased premises, as their <br /> interests may appear, if the Commission agrees to such sublease <br /> and if such sublease is permitted by law, provided, however, that <br /> any such sublease shall not result in any reduction of the rental <br /> payments required to be made to the Commission by the City or the <br /> County pursuant to this Lease and provided further that the Com- <br /> mission shall not enter into any such sublease until it has <br /> received an opinion of the bond counsel who approved the issuance I <br /> of the Bonds to the effect that entering into such sublease would <br /> have no adverse effect on the "tax exempt" status of the Bonds or <br /> Parity Bonds. The Commission further agrees that upon the <br /> receipt of a request by the City or the County to sublease all or <br /> any part of the leased premises, its consent to such sublease <br /> will not be unreasonably withheld. <br /> -15- <br />
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