Laserfiche WebLink
<br />r <br /> <br /> <br />84.--- 006618 <br /> <br />r <br /> <br />The Trustee is hereby authorized and directed <br />each disbursement called for by orders and requisitions <br />as above specified. <br />The Trustee shall keep and ..intain adequate <br />Construction Fund and all disbursements therefroa aud when <br />hss been closed out (as provided in Section 2 bereof). the <br />accounting thereof with the Leesee. <br />Section 2. The cOllpleUon of the Project shall !Nt <br />filing with the Trustee of a certificate signed by the Project <br />acceptance of the Lessee endor.ed thereon. vhicb certificate shall set <br />date of cOllpletion and acceptance and that all oblilaUoos nd <br />connection with the Project have been paid. After the expiration of <br />days froa the date of filing such certificate with tbe Trus~.., the <br />shall transfer any balance in the Construction Fund not in exce.. of ~ <br />(2%) of the original principal amount of the Bond. to the Bond Fund without <br />---further author1zanon;--------------~-~ - - -----~- ~-- <br />In the event the balance in the Construction FUnd is in exce.s of ~ <br />percent (2%) of the or11inal principal amount of tbe loads, the Tnstee 8ball <br />transfer any such balance to the Bond Fund only ..fter havinl receheel the <br />written opinion of recognized bond counsel that such transfer shall not <br />adversely affect the exellptlon cf interest cn the Boads from federal income tax <br />under Sect1cn 103 cf the Internal Revenue Code of 1954, as amended. <br />Section 3. A 11 pa}'1llents to the Trustee under the provisions of <br />Sections 13.2 and 14.4(b) of the Lease and Agreeeent. and representinl 80neys as <br />stated therein to be set apart and retained for the purposes therein set forth <br />shall be held by the Trustee in a separate account created in the Lea.. and <br />Agreeeent enUtled "Construction Account. It If, at any ti... for any reason <br />there is a deficiency in the Bond Fund. in order in tbe Bond Fund, in order to <br />pay the interest on and principal of the Bonds as the sa.. become due. the <br />Trustee is hereby authorized and directed to transfer to the Bond Fund from such <br />Construction Acccunt a sufficient amount to cover such deficiency. <br /> <br />41 <br /> <br />u <br /> <br />L <br /> <br />L <br /> <br />..J <br /> <br /> <br />L <br />