Ordinance 3405-14 - Laserfiche WebLink

Supporting Credit Facility Documents (as defined in paragraph (e) below). If, by reason of the conditions to such mandatory tender of such Bonds (as stated in such notice), there is no mandatory tender of such Bonds on the proposed Credit Facility Date, (1)the Tender Agent shall so notify the Bond Registrar, (2) the Bond Registrar shall so notify the Registered Owners of such Bonds (at their addresses as they appear on the Bond Register as of the date of such notice) by Electronic Notice, confirmed by first class mail, and (3) the Tender Agent shall return to their Registered Owners any such Bonds tendered to the Tender Agent in connection with such mandatory tender of such Bonds. (d) Expiration and Termination. The City may elect at any time (1) to permit a Credit Facility to expire without delivering a new Credit Facility, (2) to terminate a Credit Facility prior to its expiration, or (3) upon expiration or termination of the Letter of Credit, to not provide a Credit Facility. (e) Supporting Credit Facility Documents. In connection with the delivery of a Credit Facility after the Closing Date, the City shall deliver, or shall cause to be delivered, the following documents (the"Supporting Credit Facility Documents"): (1) written consent of the Liquidity Facility Provider, if any; (2) written evidence from each Rating Agency then maintaining a rating on such Bonds of the rating to be assigned by such Rating Agency to such Bonds following the delivery of the Credit Facility (unless the City determines that such ratings are not necessary for the remarketing of the Bonds); (3) a written opinion of counsel, addressed to the Bond Registrar and the Tender Agent, to the effect that the Credit Facility is the legal, valid and binding obligation of the Credit Facility Provider, enforceable against such issuer or issuers in accordance with its -85- P 120287 CM\M20287 AMT 10/14/14