Common use of City Representations and Warranties Clause in Contracts

City Representations and Warranties. The City hereby represents and warrants to the Authority that each of the following is true and correct: (a) The City is a municipal corporation organized and existing under the Charter, which was duly adopted pursuant to the provisions of the Constitution of the State of California. (b) The City has full legal right, power and authority to enter into this 2003 Supplement and perform its obligations hereunder, to carry out and consummate all transactions contemplated by this 2003 Supplement, and the City has complied with the provisions of the Law in all matters relating to such transactions. (c) By proper action, the City has duly authorized the execution, delivery and performance of this 2003 Supplement. (d) The execution and delivery of this 2003 Supplement and the consummation of the transactions herein contemplated will not (i) violate any provision of law, any order of any court or other agency of government; (ii) be in conflict with, result in a breach of or constitute a default (with due notice or the passage of time or both) under any provision of any indenture, material agreement or other instrument to which the City is now a party or by which it or any of its properties or assets is bound; or (iii) result in the creation or imposition of any prohibited lien, charge or encumbrance of any nature whatsoever upon any of the properties or assets of the City. (e) The City has determined that it is necessary and proper for City uses and purposes within the terms of the Law that the City refund the Prepaid Payments and acquire the 2003 Components in the manner provided for in this 2003 Supplement, in order to continue to provide essential services and facilities to the persons residing in the City. (f) The interest components of 2003 Subordinated Installment Payments will not be includable in the gross income of the owners of 2003 Subordinated Bonds for federal income tax purposes.

City Representations and Warranties. The City hereby represents and warrants to the Authority that each of the following is true and correct: (a) The City is a municipal corporation organized and existing under the Charter, which was duly adopted pursuant to the provisions of the Constitution of the State of California. (b) The City has full legal right, power power, and authority to enter into this 2003 20 Supplement and perform its obligations hereunder, to carry out and consummate all transactions contemplated by this 2003 20 Supplement, and the City has complied with the provisions of the Law in all matters relating to such transactions. (c) By proper action, the City has duly authorized the execution, delivery delivery, and performance of this 2003 20 Supplement. (d) The execution and delivery of this 2003 20 Supplement and the consummation of the transactions herein contemplated do not and will not (i) violate any provision of law, any material law or any order of any court or other agency of government; (ii) be in conflict with, result in a material breach of of, or constitute a default (with due notice or the passage of time or both) under any provision of any indenture, material agreement agreement, or other instrument to which the City is now a party or by which it or any of its material properties or assets is bound; or (iii) result in the creation or imposition of any prohibited lien, charge charge, or encumbrance of any nature whatsoever upon any of the properties or assets of the City. (e) The City has determined that it is necessary and proper for City uses and purposes within the terms of the Law that the City refund the Prepaid Payments and acquire the 2003 20 Components in the manner provided for in this 2003 20 Supplement, in order to continue to provide essential services and facilities to the persons residing in the City. (f) The City will take no action to cause, directly or indirectly, the interest components of 2003 Subordinated Installment Payments will not on the 20 Bonds to be includable in the gross income of the owners Owners (as defined in the Indenture) of 2003 Subordinated the 20 Bonds for federal income tax purposes.