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81006050
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Last modified
1/14/2010 11:27:18 PM
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1/14/2010 11:25:20 PM
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DEEDS
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81006050
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2A4 <br /> <br />Registrar, duly register said Bonds in the name of said <br />Original Purchaser, but only upon payment therefor by or on <br />behalf of the Original Purchaser to the Trustee of 100% of <br />the principal amou~.c ~f the Bonds plus interest accrued from <br />the date of issuance of said Bonds to the date of their <br />delivery. <br />Simultaneously with the registration and delivery of <br />said Bonds, the Trustee shall deposit the proceeds received <br />from the sale of said Bonds to the credit of the <br />Construction Fund in accordance with Article IV hereof. <br />Section 209. ?ndenture Superior to Other Liens. This <br />Indenture is given in order to secure funds to pay, in part, <br />for new construction and, by reason thereof, it is in:.ended <br />that this Indenture shall be superior to any laborers', <br />mechanics' or materialmen's liens which may be placed upon <br />the Project. <br />Section 210. Additional Bonds for Additional Im rove- <br />ments. In addition to the Series 1981 Bons issued under <br />the provisions of this Article, Additional Bonds of the <br />Issuer may be issued from time to time under and secured by <br />this Indenture, on a parity with t_he Bonds theretofore <br />issued under the provisions of this Indenture and then <br />outstanding, subject to the conditions hereinafter set forth <br />in this Section, for the purpose of paying all or any part <br />of the cost of any Additional Improvements; provided, <br />however, that the aggregate principal amount of Bonds issued <br />under the provisions of this Indenture shall not in any <br />event exceed an amount equal to $100,000 less than the <br />maximum applicable bond issue limitation set forth in <br />Section 103(b)(6)(D) of the Code and provided further, that <br />any such Additional Bonds may be issued under this Section <br />only if such issuance shall not result in the interest on <br />any Bonds issued under this Indenture becoming subject to <br />federal income taxation. <br />Before any Additional Bonds shall be issued under the <br />provisions of this Section, the Governing Body shall adopt a <br />Resolution authorizing the issuance of such Additional <br />Bonds, fixing the amount and terms thereof and describing in <br />brief and general terms the Additional Improvements to be <br />acquired or constructed. The Additional Bonds of each <br />Series issued under the provisions of this Section shall <br />conform to the applicable provisions of this Indenture and <br />shall provide for the payment of rates of interest and for <br />such other characteristics as shall be fixed and determined <br />by the Governing Body and as set forth in a supplement to <br />this Indenture, provided: <br />(a) that each such issue of Additional Bonds when so <br />issued shall be differentiated from all previous issues by <br />appropriate designation inscribed thereon; <br />29 <br /> <br /> <br /> <br />
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