Common use of Acquisition and Ownership of Property and Borrowing Limitations Clause in Contracts

Acquisition and Ownership of Property and Borrowing Limitations. The PSA may, pursuant to Section 503(9) of the Code, acquire by purchase, gift devise, lease, sublease, or any other means as provided by law, hold and own in its own name, buildings and other property for school purposes, and interests therein, and other real and personal property necessary or convenient to fulfill its educational purposes and may issue bonds pursuant to Section 504(a)(g) of the Code. The PSA may not levy taxes. Notwithstanding the foregoing, the PSA, only after obtaining the prior written consent of DPS, which consent may be withheld for any reason, may incur debt only as follows:

Acquisition and Ownership of Property and Borrowing Limitations. The PSA may, pursuant to Section 503(9503(10) of the Code, acquire by purchase, gift devise, lease, sublease, or any other means as provided by law, hold and own in its own name, buildings and other property for school purposes, and interests therein, and other real and personal property necessary or convenient to fulfill its educational purposes and may issue bonds pursuant to Section 504(a)(g) of the Code. The PSA may not levy taxes. Notwithstanding the foregoing, the PSA, only after obtaining the prior written consent of DPSDPSCD, which consent may be withheld for any reason, may incur debt only as follows:

Acquisition and Ownership of Property and Borrowing Limitations. The PSA may, pursuant to Section 503(9) of the Code, acquire by purchase, gift devise, lease, sublease, or any other means as provided by law, hold and own in its own name, buildings and other property for school purposes, and interests therein, and other real and personal property necessary or convenient to fulfill its educational purposes and may issue bonds pursuant to incur debt as described in Section 504(a)(g) of the Code. The PSA may not levy taxes. Notwithstanding the foregoing, the PSA, only after obtaining the prior written consent of DPSDPSCD, which consent may be withheld for any reason, may incur debt only as follows: