Res 1980-053 - Laserfiche WebLink

Home Browse Search

~ ,~~ :1 ,~ ,~ " ~ .,... , . r ~ "r, ~'-.--... 4 r r I .t r !~ 11 ,I ~ J I , . (2) To cuopeJ.lte with the Company with respect to the is.cjlldnce and sale of the B()nds, and, if arrangement:j therefor satisf~ctory to the Cumpany and the Corporation cun be made, the Corporation will authorize the executio, of such documents and will take such further action as Ini be necessary or ~dvisable for the authorization, issuanc~ and sale of the Bonds and the completion of the Facilitil:' (3) To take such actions and execute such document as m~y be necessary LInd as may be agreed upon bet~veen the Company und the Corpuration to permit the issuance from time to time in the future uf additional Bonds on terms which shall be set forth therein,whether pari passu with otlJ'-T series of Bonds or otherwise, for the purpose of cleL.lying the C()st of cOInplet-jons, enlargements, improve- melJts and expan::;ions of the Fdcilities, or any segment thereo f, '<ls reques ted hy the Company, and wi thin the lilll i Cations of Section 103 (b) (6) of the Internal Revenue Code of 1954, as umended. (cl) The Company and the Corporatiun will enter into a cuntract undlT the terms of which the Company will unconditiolli obligate itself to pay to the Corporation (or a trustee, as the case may be) "ums sufficient in the aggregate to pay the principal of, inLerest on and redemption premiums, if any, togelher wit-h trustee's fees and fees of paying agents, ~vith lespect to the Bonds, as and when the same become due and payable. (e) Provisiuns shall be made in each resolution of Lhe Corporation", Hoard of Directors providing for issuance of the Bonds for payment to the Corporation from the proceeds of the Bonds of ao amoUn t equal to a 11 cas ts incurred by it (including le:.11 fees) in connection with the issuance and sale of Lhe BODds. (f) Should no Bonds have been is::;ued pursuant hereto on or before five years from the clate hereof, the Corporation's oi.ligation to is:,ue Bonds shall c...:ase, and the Company shall pay to the Corporution an amount equal to all costs, direct and indirect, incurred by the Corporation in negotiating contracts hereunder, in acquiring and constructing facilities and in preparing for issuance of Bonds which are not actually issued, and the Corporation shall transfer to the Company gOod title to .11 re~l or personal property theretofore transferred by the Company to the Corporation and all other real or personal property acqllil>~d Ly the Corroration with any funds advanced to the Curporation by the Company hereunder. (g) Upon completion of the acquisition, construction and improvement of the Fdcilities, they shall be operated and maintained by the Company without cost Or expense to the Corporation. ')