Duties of the Authority. The Authority covenants and agrees as follows:
(a) The Authority will cause the Bonds to be issued and sold pursuant to the Indenture. The Authority will cause the proceeds of the Bonds to be deposited as required by the Indenture and used solely for the Permitted Uses.
(b) The Authority will cause the completion of the construction of the Stadium with the proceeds of the Bonds, and any funds paid by the Team pursuant to the Development Agreement.
(c) The Authority will deposit the Sales Tax Revenues and the Debt Service Portion of the Ticket Tax Revenues received from the Metropolitan Government to the Revenue Fund established in the Indenture for application as provided therein.
(d) The Authority agrees that it will adopt an annual budget for the Stadium indicating all operating expenses, revenues and capital improvements. The Authority agrees to (i) promptly provide the Director of Finance all budget information and proposals, as and when prepared by the Authority, and any other statements, reports and information relating to the Stadium as the Director of Finance may request from time to time; (ii) consult with the Director of Finance in connection with the adoption of its annual budget for the Stadium and (iii) present the budget so adopted to the Metropolitan Government at times and in the manner prescribed by the Director of Finance and in compliance with any requirements of the budget process of the Metropolitan Government. The Authority shall additionally submit to the Metropolitan Council the annual audit and report of its business affairs and transactions in compliance with the requirements of the Act.
(e) The Authority will comply with all the terms and conditions set forth in the Indenture, including, without limitation, the obligation to use funds held in the Surplus Revenue Fund created by the Indenture to reimburse the Metropolitan Government for any payments of the Non-Tax Revenues made by the Metropolitan Government for debt service on the Bonds up to said amount.
Duties of the Authority. The Authority will have the following duties:
Duties of the Authority. 5.1 Subject to reasonable notification by the Supplier of its requirements, the Authority’s Representative shall give to the Supplier such instructions and/or decisions as pursuant to this Contract are required to be given by the Authority’s Representative at such a time and in such a manner as shall enable the Supplier properly to perform the Contract.
5.2 The Authority shall supply or make available to the Supplier, without charge such information as it is required to provide in accordance with the Specification in such time as not to delay or disrupt the performance of its duties under this Contract.
5.3 The Authority shall provide access to areas of land and building (including details of any restrictions) as stated in the Specification as it is reasonably able to do to enable the Supplier to carry out the Contract.
5.4 The Authority may provide site facilities to the Supplier for the carrying out of the Contract which, if required, shall be as detailed and on such terms as set out in the Specification.
5.5 The Authority will comply with the Authority's dependencies as set out in the Specification.
Duties of the Authority. (a) The Authority hereby agrees to (i) establish one or more Line of Credit Facilities in accordance with the Legislation and, (ii) if requested by the Director of the Budget and subject to the approval of the Authority Board, issue Bonds and to carry out the provisions of the Resolutions and the Program Act. Such agreement of the Authority shall constitute consideration for the promises and agreements of the State contained herein.
(b) Each (i) Line of Credit Facility established pursuant to the Legislation and the Authorizing Resolution, and (ii) each Series of Bonds issued pursuant to the Program Act and the Resolutions, shall be enumerated in a supplemental schedule appended to this Service Contract that is prepared and certified by the Director of the Budget and approved by the State Comptroller in order to provide for (i) in the case of the Line of Credit Facilities, the repayment of draws thereunder and the payment of interest, commitment fees and costs incurred by the Authority in connection with the establishment of such Line of Credit Facilities, and (ii) in the case of Bonds, the payment of the principal of, sinking fund installments, if any, interest on each Series of Bonds issued under the Resolutions.
(c) Within seven days after a draw occurs on any Line of Credit Facility, the Authority shall furnish to the State notice of the amount of such draw. Within ten days after the issuance of any Series of Bonds, the Authority shall furnish to the State a schedule of the debt service payments to be made on each date in respect of such Bonds so issued.
(d) The Authority covenants and agrees that (i) it shall apply the Contract Payments received by it solely in accordance with (A) the Authorizing Resolution, in the case of Line of Credit Facilities, and (B) the Resolutions, in the case of Bonds, (ii) it shall not (A) in the case of the Line of Credit Facilities established pursuant to the Legislation, draw and have outstanding at any one time in excess of $3,000,000,000 on all Line of Credit Facilities, and (B) in the case of Bonds, issue any Series of Bonds, or amend, modify, change or alter, or consent to any amendment, modification, change or alteration of, the terms of the Bonds, in either case so as to increase Contract Payments payable in respect thereof, without delivery of the certification of the Director of the Budget as provided in Subsection 3.01(b) above, and
Duties of the Authority. 2.01. The Authority shall serve as the Project Manager on the Project. The Authority shall be responsible for all progress and final inspections, for all general administrative functions, and for maintaining all documentation and all reports in relation to the Project. The Authority shall require and secure from its contractors, subcontractors, grantees, borrowers, and consultants engaged pursuant to this Agreement (individually, a “Contractor”, and collectively, the “Contractors”) undertaking work on the Project (i) all necessary and proper bonds to guarantee the performance of said Project, (ii) all necessary affidavits and resolutions required to contract with the City, and (iii) all workers' compensation, employer’s liability, commercial general liability (Broad Form Comprehensive), automobile liability, and pollution liability insurance policies (as required) in such amounts, with such features, and in such form as set forth and specified in Article VI hereof, or as may be required by law. To the extent permitted by law and commercially available, the City and the Authority shall be named as additional insured on all such insurance.
2.02 The Authority shall maintain full and complete books, ledgers, journals, accounts, documents, other collected data, and records in auditable form (the “Records”), wherein are kept all entries reflecting all actions taken pursuant to this Agreement. The Authority shall make available all such Records for audits, inspections, and examinations by the City during normal business hours. All such Records shall be maintained and kept in accordance with generally accepted accounting principles by the Authority during the term of this Agreement, plus an additional period of four (4) years following the later of the completion of the Project or the termination of this Agreement, or for such longer period as may be required. The provisions of this Paragraph shall survive the termination of this Agreement.
Duties of the Authority. The Authority shall endeavor to perform any and all duties and or responsibilities as may from time to time be assigned to it and adequately funded by one or more of the Parties, or such grants, donations or other revenue sources as may be available to the Authority.
Duties of the Authority. 7.01 The Authority shall cooperate with the Contractor in all matters of law enforcement security and communications and shall use its best efforts to obtain such cooperation from local and state law enforcement agencies.
7.02 The Authority shall consider all proposed agreements presented to it by Contractor or its agents for the placement of additional inmates in the Facility. It is agreed that the first priority for bed space in the Facility is to ensure space is available for such persons that are detained by the law enforcement agencies for the cities of Union City and Palmetto.
Duties of the Authority. In exercising its rights or remedies under this Clause 43, the Authority shall:
Duties of the Authority. The Authority covenants and agrees as follows:
(a) The Authority will take all steps necessary to provide for the defeasance of the Outstanding General Obligation Bonds on or before the date of issuance of the Bonds.
(b) The Authority will cause the Bonds to be issued and sold pursuant to the Indentures. The Authority will cause the proceeds of the Bonds to be deposited as required by the Indentures and the Development Agreement, and used solely for the Permitted Uses.
(c) The Authority will cause the completion of the construction of the New Stadium with the proceeds of the Bonds and the funds paid by the Team (including StadCo and other affiliates of the Team) and the State, all pursuant to the Development Agreement, and the State Funding Agreement.
(d) (Reserved)
(e) The Authority shall additionally submit to the Metropolitan Council the annual audit and report of its business affairs and transactions in compliance with the requirements of the Act.
(f) The Authority will deposit, as and when received, the Stadium Lease Payments in the Stadium Revenue Fund, as required by the Indentures and the Stadium Lease.
(g) The Authority will comply with all the terms and conditions set forth in the Indentures, the Development Agreement, the State Funding Agreement, the Ground Lease, the Stadium Lease and, to the extent applicable and not terminated, the Existing Lease.
(h) The Authority will enforce its rights pursuant to all documents and agreements related to the Existing Stadium and New Stadium, including but not limited to the Indentures, the Development Agreement, the State Funding Agreement, the Stadium Lease, that certain Non-Relocation Agreement, dated as of August 25, 2023 (the “Non-Relocation Agreement”), by and between the Authority and the Team, that certain Guaranty dated as of August 25, 2023, delivered by the Team (the “Team Guaranty”) and, to the extent applicable and not terminated, the Existing Lease, using all available remedies as described thereunder or as may be available at law or equity, as necessary or advisable to protect the interests of the Authority and the Metropolitan Government. The Authority will not amend or permit the amendment of any documents or agreements related to the Existing Stadium or New Stadium to which it is a party without the prior written consent of the Director of Finance and, for any amendment that would (i) shorten the term of the Stadium Lease, the Non-Relocation Agreement or the Team Guaranty; (ii) limit the re...
Duties of the Authority. The Authority agrees that it will:
a. Use its best efforts to negotiate contract(s) providing for the Design Services subject to funding by the County Commission. The Authority will work with the County and the Design Review Committee in developing the design of the Project. The design of the Project, subject to the input of the County and the Design Review Committee, shall be the duty of the Authority;
b. Use its best efforts to construct a one story 14,000 sf +- government building on the Blaze Tract of which the County Clerk will use approximatley 4,000 sf +- with dedicated teller lanes similar to the Xxxxxxxxxx County One Stop in Smyrna, Tennessee, approximately 5,500 sf +- for use by the Tennessee Department of Safety and Homeland Security, and approximately 5,500 sq +- of space being shelled for future use.
c. The Authority’s duties include, but are not limited to, the selection and hiring of a construction manager/general contractor, architect(s), engineer(s), and other professional(s) to supervise the design and construction phases of the Project. The final design of the Project, subject to the input of the County and the Design Review Committee, shall be the duty of the Authority.
d. Use its best efforts to enter into a construction contract pursuant to T.C.A. § 00-00-000, et seq., providing for the construction of the One Stop Building in accordance with the plans and specifications obtained pursuant to a design contract. The construction contract will provide that the contractor or Construction Manager will work with the Authority and Committee in constructing the Project in accordance with the plans. The construction contract will provide that the plans may be modified by the Authority at any time with approval of the Committee so long as any increases in the cost of the Project are pre-approved, authorized, and funded by the County.
e. Cause all bills related to the Project to be paid in a timely manner. It is understood between the parties that valid invoices are to be submitted to the Authority pursuant to the terms of the construction contract to be entered. Said invoices are to be approved, in the case of construction invoices, by the architect(s) and as to all invoices including construction invoices by the Chairman of the Authority. After approval of same by the Chairman of the Authority, in the case of construction invoices by the architect, said invoices are to be submitted by the Authority to the County Finance Director for Xxxxxxxxxx...
