Laserfiche WebLink
L . . . . � f. {i. <br /> q . . . � . . . `�.,.w. <br /> ti . . . . � � � � . . (� . . . <br /> 1 . ,... .�.�"� <br /> �� I � <br /> � �� _ <br /> ,. <br /> , . . .. ._ r' , , i � ; ;; , <br /> ,r.. , . - - ;. : <br /> �� �f�- n �) 6 ) .1 �? <br /> ��� ( a ) Th� ori(�inal prnceeds af ttye first series of <br /> �° Honds to be isaued under the Tndenture will not exceed <br /> �� <br /> x4€ by more than 5p the amount necessary Co pa,y tl�e cost nf <br /> �1 the Pro,iect . <br /> '�, <br /> ;� ( b ) At least 85 � of the spendable proceeds of such <br /> ;� Donds , ineluding investment proceeds , will Ue expended <br /> :�� for the cost of ttie t' ro,ject within three ,years folloi�� in� <br /> �>; the date of issue of such E3onds . <br /> ;%� <br /> �F� <br /> '�' ( c ) The Lessee has incurred suGstantial bindinq <br /> +e <br /> 7� obligations to commence or acquire thc �'ro ,yect equal to <br /> � at least 2 -1/ 2 � of the to � al cost af tt�c Pro ,ject . <br /> , � <br /> d. ( d ) tJork on the Pre,ject has commenced and 1� <br /> y� expected to proceed with due diliqence to completion . <br /> �` ( e ) The YroJect h� s not been and is not expected <br /> ,A� to be sold or otllerceise disposed uf in wliole or in p �3rt <br /> � prior to the maturitY of the last principnl installment <br /> �,.��, of such Bonds . <br /> ..;�1 ( f ) Accrued interest received upon the sale of such <br /> Sonds is to be apglied to the fSrst intere, t due thereon . <br /> '�� ( �; ) On the bssis of t11e foregoing , it is not <br /> � expected that the proceeds of such 6onds ti�� ill be used <br /> � <br /> � 1n a manner that would cause such Bends t � be <br /> y� classified as " arbitra �;e bonds " under Section 1Q3 ( c ) <br /> of the Internal Revenue Code of 195 � , as amended , and <br /> � the regulations prescribed under that Section . _ <br /> � . <br /> � <br /> ,, ( h ) To the best la�owled �e and bclicf of th � Lessec , <br /> .� there are no facts or circumstances that tiaotild materiall�* ' <br /> „� chringe the foregoing conclusien . <br /> =� <br /> � Tkie Autharity arld the Lessee further cov � nr�cit that thev <br /> i�� ill not , and Hill not cause Lhc Trustee to , make any inve :� tmenL <br /> �;, er do any other act or thin � durin�; the period that any I3onds are <br /> `"" outstandin� under the Indenture which �tioul.d cause anv of thc I3onds <br /> �-a to beceme or be classified as ai�bitrare bonds w1T, hin the mcanitir <br /> a of Section 103 ( c ) of thc Internal I:evenue Gade of 1954 , as amendre9 , <br /> � and the regulations thereunder now or h � reafter proposed or - <br /> �;� published in the rederal Rep,ister or as promulqated in final form . <br /> :; It is further understood anci a�r� ed that the Trustee shall not bc <br /> ;� required at any time to malce aii�� such investment or do an�� such act• . <br /> I <br /> � ,�r,1�zcL� zzY <br /> .y <br /> :s <br /> �; Demisin� Clauses and Rent <br /> ;� <br /> }; Section 3_1 . Lease of the lioapital Facility . In consideration <br /> of the rentals reserved t�nd of thc covenants and promises her�cin <br /> 'f contained to be kept and performed by ti� c Lessee , tho Authorit ,y hcreb ,y <br /> :, <br /> R. <br /> 7 <br /> ?� <br /> a <br /> I � 7 �'Y '�;� , � <br /> � d � . . <br /> . . . � ..J'_:.� <br /> �� � ..._l . � <br /> . : : . � . :; <br /> �.. <br /> � � <br />� - ' �' <br />, : <br />: <br />` �-� (_ � <br /> � <br /> � <br />