Res 1979-054 - Laserfiche WebLink

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I I I 6. The Corporation and the User agree that the Bonds may be issued either at one time or.in several series from time to time as the User shall request in writing; pro- vided, however, that the parties agree that the Bonds will be issued in an aggregate principal amount as will not exceed the amount which is the subj ect of a ruling or rulings or opinion or opinions as aforesaid. A request in writing for. issuance of one or more series of Bonds shall not affect the obligation hereunder of the Corporation to issue the remaining Bonds as written requests therefor are received. It is further agreed that the proceeds of the Bonds or portions thereof whether or not issued in a series, shall not be invested so as to constitute the Bonds or a portion thereof as arbitrage bonds within the meaning of Section l03(c) of the Code and applicable regulations promulgated pursuant thereto. 7. The payment of the principal of and any premium and interest on the Bonds shall be made solely from moneys realized from the sale or lease of the Project or from moneys realized from the loan of the proceeds of the Bonds to finance all or part of the costs of the Project. 8. The costs of the Project (hereinafter the "Pro"; ject Costs") may include any cost of acquiring, construct- ing, reconstructing, improving and expanding the Project. wi thout limiting the generality of the foregoing, the Project Costs shall specifically include the cost of the acquisition of all land, rights-of-way, property rights, easements and interests , the cost of all machinery and equipment, financing charges, interest prior to and during construction and for one year after completion of construc- tion whether or not capitalized, necessary reserve funds, costs of estimates and of engineering and legal services, Plans, specifications, surveys, estimates of cost and of revenue, other expenses. necessary or incident to deter- mining the. 'feasibility and practicability of acquiring, constructing, reconstructing, improving and expanding the Prpject,adroinistrative expenses and such other expenses as maybe necessary or incident to the acquisition, construc- tion, reconstruction, improvement and expansion of the Project, the placing pf the Project in operation and all incidental expenses, cpsts and charges relating to the Project not enumerated above. The parties agree, upon request,. to provide or to caus.e to be provided to each other any data or information which may be reasonably -6-