Execution; Limited Obligation. The Series 20 Bonds shall be executed on behalf of the Issuer with the manual or facsimile signature of the President of the Town Council and attested with the manual or the facsimile signature of its Clerk-Treasurer and shall have impressed or printed thereon the corporate seal of the Issuer. Such facsimiles shall have the same force and effect as if such officer had manually signed each of the Series 20 Bonds. If any officer whose signature or facsimile signature shall appear on the Series 20 Bonds shall cease to be such officer before the delivery of such Bonds, such signature or such facsimile shall, nevertheless, be valid and sufficient for all purposes, the same as if he had remained in office until delivery. Agreement pledged and assigned for their payment in accordance with the Indenture (“Trust Estate”). Neither the faith and credit nor the taxing power of the Issuer, the State of Indiana or any political subdivision or taxing authority thereof is pledged to the payment of the principal of, premium, if any, or the interest on this Series 20 Bond. The Series 20 Bonds do not grant the owners or holders thereof any right to have the Issuer, the State of Indiana or its General Assembly, or any political subdivision or taxing authority of the State of Indiana, levy any taxes or appropriate any funds for the payment of the principal of, premium, if any, or interest on the Series 20 Bonds. No covenant or agreement contained in the Series 20 Bonds or the Indenture shall be deemed to be a covenant or agreement of any member, director, officer, agent, attorney or employee of the Commission, the Redevelopment Commission, the Borrower, or the Issuer in his or her individual capacity, and no member, director, officer, agent, attorney or employee of the Commission, the Redevelopment Commission, the Borrower, or the Issuer executing the Series 20 Bonds shall be liable personally on the Series 20 Bonds or be subject to any personal liability or accountability by reason of the issuance of the Series 20 Bonds.
Execution; Limited Obligation. The Bonds shall be executed on behalf of the Sponsor with the manual or facsimile signature of its President or Vice President and attested by the manual or facsimile signature of its Secretary. A facsimile signature shall have the same force and effect as if personally signed. In case any officer of the Sponsor whose manual or facsimile signature appears on the Bonds shall cease to be such officer before the delivery of the Bonds, such manual or facsimile signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. The Sponsor may adopt and use for that purpose the manual or facsimile signature of any person or persons who shall have been the President, Vice President or Secretary at any time on or after the date borne by the Bonds, notwithstanding that such person may not have been such President, Vice President or Secretary on the date of any 18 such Bond or may have ceased to be such officer of the Sponsor at the time when any such Bond shall be authenticated and delivered. The Bonds, together with interest thereon, are not general obligations of the Sponsor but are limited obligations thereof payable solely from the Trust Estate pledged therefor and shall be a valid claim of the respective Holders thereof against the Trust Estate held by the Trustee under this Indenture which is hereby pledged, assigned and otherwise secured for the payment of the Bonds as provided in this Indenture and shall be used for no other purpose than to pay the principal of and interest on the Bonds, except as may be otherwise expressly authorized in this Indenture. The Sponsor shall not be obligated to pay the principal of the Bonds, the interest thereon or the other costs incident thereto or any other obligations of the Sponsor hereunder except from the Trust Estate. All covenants, stipulations, obligations and agreements of the Sponsor contained in this Indenture shall be deemed to be covenants, stipulations, obligations and agreements of the Sponsor to the full extent permitted by law. No covenant, stipulation, obligation or agreement contained herein shall be deemed to be a covenant, stipulation, obligation or agreement of any present or future officer, agent or employee of the Sponsor in their individual capacity, none of whom shall be liable personally on the Bonds or be subject to any personal liability or accountability by reason of the issuance thereof. No officer, agent or employee of the ...
Execution; Limited Obligation. The Series 20 Bonds shall be executed on behalf of the Issuer with the manual or facsimile signature of the City Council President of the City and attested with the manual or the facsimile signature of its Clerk-Treasurer or Deputy Clerk-Treasurer and shall have impressed or printed thereon the corporate seal of the Issuer. Such facsimiles shall have the same force and effect as if such officer had manually signed each of the Series 20 Bonds. If any officer whose signature or facsimile signature shall appear on the Series 20 Bonds shall cease to be such officer before the delivery of such Bonds, such signature or such facsimile shall, nevertheless, be valid and sufficient for all purposes, the same as if he had remained in office until delivery. The Series 20 Bonds, and the interest payable thereon, do not and shall not represent or constitute a debt of the Issuer within the meaning of the provisions of the constitution or statutes of the State of Indiana or a pledge of the faith and credit of the Issuer. The Series 20__ Bonds, as to both principal and interest, are not an obligation or liability of the State of Indiana, or of any political subdivision or taxing authority thereof, but are a special limited obligation of the Issuer and payable solely and only from the trust estate consisting of the funds and accounts held under the Indenture, the Lease Rental Payments and the payments to be made on the Series 20 Note issued under the Loan Agreement pledged and assigned for their payment in accordance with the Indenture (“Trust Estate”). Neither the faith and credit nor the taxing power of the Issuer, the State of Indiana or any political subdivision or taxing authority thereof is pledged to the payment of the principal of, premium, if any, or the interest on this Series 20 Bond. The Series 20 Bonds do not grant the owners or holders thereof any right to have the Issuer, the State of Indiana or its General Assembly, or any political subdivision or taxing authority of the State of Indiana, levy any taxes or appropriate any funds for the payment of the principal of, premium, if any, or interest on the Series 20 Bonds. No covenant or agreement contained in the Series 20 Bonds or the Indenture shall be deemed to be a covenant or agreement of any member, director, officer, agent, attorney or employee of the Commission, the Redevelopment Commission, the Borrower, or the Issuer in his or her individual capacity, and no member, director, officer, agent, attorney or ...
Execution; Limited Obligation. The Series 2016 Bonds shall be executed on behalf of the Issuer with the manual or facsimile signature of its Mayor and attested with the manual or the facsimile signature of its Controller and shall have impressed or printed thereon the corporate seal of the Issuer. Such facsimiles shall have the same force and effect as if such officer had manually signed each of the Series 2016 Bonds. If any officer whose signature or facsimile signature shall appear on the Series 2016 Bonds shall cease to be such officer before the delivery of such Bonds, such signature or such facsimile shall, nevertheless, be valid and sufficient for all purposes, the same as if he had remained in office until delivery.
Execution; Limited Obligation. The Bonds shall be executed on behalf of the Issuer by the official manual or facsimile signature of its Chairman or Vice Chairman and the Issuer's corporate seal shall be affixed thereto or printed thereon and attested by the official manual or facsimile signature of its Secretary or Assistant Secretary. The obligation of the Issuer to pay the Bonds and the interest thereon shall not be a general obligation of the Issuer but shall be a limited obligation which shall be payable from, and wholly secured by, a pledge of the Trust Estate. If any officer of the Issuer who shall have signed or sealed any Bonds shall cease to be such officer before such Bond so signed and/or sealed has been authenticated and delivered by the Trustee, such Bond nevertheless may be authenticated and delivered as though the person who signed and/or sealed such Bond had not ceased to be such officer, and also any Bond may be signed and sealed on behalf of the Issuer by such persons as at the actual time of execution of such Bond shall be the proper officers of the Issuer, although at the date of such Bond such persons may not have been officers of the Issuer.
Execution; Limited Obligation. The Bonds shall be executed on behalf of the Issuer by the manual or facsimile signature of the Chair of the Board of County Commissioners of the Issuer and attested by the manual or facsimile signature of the County Auditor of the Issuer and shall have impressed or imprinted thereon the seal (or a facsimile thereof), if any, of the Issuer. In case any officer whose manual or facsimile signature shall appear on the Bonds shall cease to be such officer before the delivery of such Bonds, such manual or facsimile signature shall nevertheless be valid and sufficient for all purposes.
Execution; Limited Obligation. The Bonds shall be executed on behalf of the Issuer by the official manual signature of its Chairman or Vice Chairman and the Issuer’s corporate seal shall be affixed thereto and attested by the official manual signature of its
Execution; Limited Obligation. The Bonds shall be executed on behalf of the Issuer with the manual or facsimile signature of the Mayor of the City and attested with the manual or the facsimile signature of its Clerk and shall have impressed or printed thereon the corporate seal of the Issuer. Such facsimiles shall have the same force and effect as if such officer had manually signed each of said Xxxxx. In case any officer whose signature or facsimile signature shall appear on the Bonds shall cease to be such officer before the delivery of such Bonds, such signature or such facsimile shall, nevertheless, be valid and sufficient for all purposes, the same as if he had remained in office until delivery.
Execution; Limited Obligation. The Bonds shall be executed on behalf of the Issuer with the manual or facsimile signature of its President or Vice President and shall have affixed, impressed, or otherwise reproduced thereon the seal of the Issuer and attested with the manual or facsimile signature of its Secretary-Treasurer. The Bonds, together with interest thereon, shall be limited obligations of the Issuer payable from the Trust Estate, including the Bond Fund, and shall be a valid claim of the respective holders thereof only against such Trust Estate and fund and the revenues and receipts derived from the lease or sale of the Leased Facilities and pledged to such fund, which revenues and receipts are hereby pledged for the equal and ratable payment of the Bonds and shall be used for no other purpose than to pay the principal of, premium, if any, and interest on the Bonds, except as may be otherwise expressly authorized in this Indenture or in the Lease Agreement. The Bonds are also secured by a Guaranty Agreement. The Bonds do not now and shall never constitute an indebtedness or a pledge of the general credit of the Issuer, the Parish of St. Xxxx, the State, or any political subdivision of the State, within the meaning of any constitutional provision or statutory limitation of indebtedness. In case any officer whose signature or facsimile of whose signature shall appear on the Bonds shall cease to be such officer before the delivery of such Bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes, the same as if he had remained in office until delivery.
Execution; Limited Obligation. (1) Bonds shall be signed by, or executed with the facsimile or manual signature of, the President, Vice President or Treasurer of the Issuer and attested by the facsimile or manual signature of the Secretary of the Issuer. In case any officer of the Issuer whose signature or whose facsimile signature shall appear on any Bonds shall cease to be such officer before the delivery of such Bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until such delivery, and also any Bond may be signed by such Persons as at the actual time of the execution of such Bond shall be the proper officers to sign such Bond although at the date of delivery of such Bond such Persons may not have been such officers.
(2) The Bonds are special, limited obligations of the Issuer, the principal of, premium, if any, and interest on which are payable solely from the pledged receipts or from any other moneys made available to the Issuer for such purpose from the Trust Estate; provided, however, that under this Indenture, the Issuer has reserved to itself, and has not pledged or assigned, the Unassigned Issuer’s Rights. The Bonds do not constitute, within the meaning of any statutory or constitutional provision, an indebtedness, an obligation or a loan of credit of the State, the Sponsor or any other municipality, county or other municipal or political corporation or subdivision of the State. The Bonds do not create a moral obligation on the part of the State, the Sponsor or any other municipality, county or other municipal or political corporation or subdivision of the State and each of such entities is prohibited from making any payments with respect to the Bonds. The Issuer has no taxing power. The Bonds are issued under Chapter 303, Texas Local Government Code, as amended.
