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Resolution 2532
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Resolution 2532
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Last modified
8/1/2017 9:49:11 AM
Creation date
8/1/2017 9:49:08 AM
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Resolutions
Resolution Number
2532
Date
1/30/1985
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080384/45311 <br /> does not obligate the Issuer to participate in anyway in the <br /> marketing of the Bonds . The Issuer further agrees that it will <br /> use its best efforts to enter into the Loan Agreement and, if <br /> required, an agreement (or assignment and/or indenture of <br /> trust) with a bank or trust company, qualified to exercise <br /> trust powers where necessary, for the purpose of providing <br /> periodic payments sufficient, with other amounts available, to <br /> pay the principal of , premium, if any, and interest on the <br /> Bonds as they become due and pledging or otherwise securing the <br /> payment of such periodic payments for the benefit of the hold- <br /> er(s) of the Bonds . The principal of , premium, if any, and <br /> interest on the Bonds issued by the Issuer shall be secured by <br /> a pledge of unexpended bond proceeds and the revenues and <br /> receipts received by the Issuer from the Project funded by the <br /> Bonds . Pursuant to the Loan Agreement , the Company shall agree <br /> to make payments to provide sufficient revenues to pay ( 1) the <br /> principal of , premium, if any, and the interest on the revenue <br /> bonds proposed to be issued to finance the Project; (2) subject <br /> to the approval of the Company, the amount necessary to be paid <br /> each year into any reserve funds which the Issuer considers <br /> advisable to establish in connection with the retirement of the <br /> proposed bonds and the maintenance of the Project; and (3) un- <br /> less the terms of the Loan Agreement provide that the Company <br /> shall maintain the Project and carry all proper insurance with <br /> respect thereto, the estimated cost of maintaining the Project <br /> -4- <br />
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