My WebLink
|
Help
|
About
|
Sign Out
Browse
170-288
LFImages
>
Deeds
>
Mortgages Book-Page
>
170
>
170-288
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/8/2017 1:33:22 PM
Creation date
7/6/2017 2:17:23 PM
Metadata
Fields
Template:
Mortgage_Book_Page
book-page
170-288
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
Page 1 of 1
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
ARTICLE V.. <br />Revenues' and Funds <br />Section 501. iThe bonds -herein authorized;, ;are not 'ge 'eral <br />obligations of the County, but are limited obligations payable, <br />solely from revenues, income -and other property, derived from the <br />leasing of the Project and as authorized by the1 Act, and, as. <br />provided herein, 'the bonds are secured by a mortgage lien on the <br />Project acquired or constructed with the proceeds of the bonds The Project -has been leased to the Lesseelland under the <br />Lease and Agreement the basicTentpayments areto be .remitted I <br />directly to the Trustee for the account of the,'Count and deposited. <br />in the Bond Fund (hereinafter created). The Bond Fund, into <br />which said basic rent payments will be paid, will at all times <br />have a balance sufficient in.amount to insure; the prompt payment <br />of the principal of and interest on:the bonds and the entire amount <br />of said basic rent payments is pledged to the! payment of the <br />principal .of- and 'interest on the bonds. <br />Section 502.— There is hereby created by ;the County and es <br />tablished with the Trustee a segregated trustifund to,be called <br />"County of Hall Industrial Development Revenue!Bond Fund - GIA,. Inc./, <br />Burwood Industries., Inc. Project" (which is sometimesreferred-to, <br />1� <br />herein as the "Bond Fund"), which shall be used�to pay the interest <br />; <br />on and principal of said bonds. <br />Section 503. There shall be deposited into the'�Bond Fund <br />all accrued interest (and premium, if any) received at the time <br />of the delivery of the bonds. In addition, there shall be -deposited <br />;into the Bond Fund as and when received (a) all basic rent payments <br />specified in Section.2:1 of the Lease and Agreement; and (b) all <br />other moneys received -by the. Trustee under and: pursuant to any'. <br />of ..the provisions of the Lease and.Agreement directirig such moneys <br />to be paid into the Bond Fund. The County hereby covenants and <br />agrees that so long as any of the bonds issuedhereunder are: <br />outstanding, it will deposit, orcause to be deposited, in the <br />V-1 <br />
The URL can be used to link to this page
Your browser does not support the video tag.