Common use of Authority to Execute Indenture and Issue Bonds Clause in Contracts

Authority to Execute Indenture and Issue Bonds. The Issuer covenants that it is duly authorized under the constitution and laws of the State to execute this Indenture, to issue the Bonds and to pledge and assign the Trust Estate in the manner and to the extent set forth in this Indenture; that all action on its part for the execution and delivery of this Indenture and the issuance of the Bonds has been duly and effectively taken; and that the Bonds in the hands of the Owners are and will be valid and enforceable limited obligations of the Issuer according to the import thereof.

Authority to Execute Indenture and Issue Bonds. The Issuer covenants that it is duly authorized under the constitution and laws of the State to execute this Indenture, to issue the Bonds and to pledge and assign the Trust Estate in the manner and to the extent herein set forth in this Indenture; that all forth. All action on its the part of the Issuer for the execution and delivery of this Indenture and the issuance of the Bonds has been duly and effectively taken; taken and that the Bonds in the hands of the Owners thereof are and will be valid and enforceable limited binding obligations of the Issuer according to the import thereof.