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Q09-191 <br />ARTICLE VI <br />Custody and Application of Proceeds' of Bonds <br />Section 601. There.is hereby created by the County and es-* <br />tab•lished with the Trustee a.trust fund in the name of the County <br />to be -'designated "County. -of Hall Industrial Development Acquisition . <br />Fund - GIA, Inc./Burwood-Industries, Inc. Project" (which is herein <br />called the "Acquisition Fund" or -the "Construction Fund") The _pro- <br />ceeds from the sale of the Series A Bonds.shall be�deposited in the <br />Acquisition Fund. Moneys in the Acquisition Fund shall be' expended <br />on orders and requisitions signed by the.Chairman or Vice Chair- <br />man of the Board of Supervisors of the County, the County Clerk, <br />the Deputy County Clerk, -the County Treasurer, the:Deputy County <br />Treasurer, the County Engineer or such other officer or officers <br />of the County as its Board of Supervisors shall.designate, bearing <br />the endorsement.of approval of the Project Manager or the Alternate <br />Project Manager, but only for the.costs of acquisition, construc- <br />tion, equipping and completion of.'the Project, as specified"in the <br />Lease and Agreement, and particularly Section 4.1 thereof.; <br />Each disbursement from the Acquisition Fund shall be .on the <br />.basis of such a requisition which shall specify that: <br />(a) The disbursement is for the proper expense of the <br />Project and-ras not been theretofore included iii <br />a former reauis;tion <br />(b) The name of the person, firm or corporation to <br />whom payment is due; <br />(c) The amount to be paid; and <br />(d) The purpose by general classification for which <br />the .obligation to be paid was incurred_ <br />The County covenants and agrees to take all necessary:arnd <br />appropriate action promptly in approving and ordering disburse- <br />ments -'on each such requisition, but each such check shall'be issued <br />only if the Trustee has no knowledge of any event of default under <br />this Mortgage. or the - Lease and Agreement, or of any happening <br />which.with the lapse of time would_give rise to such an event of <br />default - <br />VI -1 <br />r^;:-r�.�,.� ..ti •nr,,.-...��.r.ac.r.�.�:�..vri,,..,r_.-.;ti -x�r_ ,.-,-.'- :;::.':,.i ;:r,r:-«e,t'^.:+ _�.+-,-r+-:=�� r -r+ Wit^+-: "'.yrs:-.+--.-.-•-.+.•.-. �S.r..-..--�._.-�......,..-.-,+.-+.�*.. <br />