Expression of Need for the Project by the Board; Determination of Purchase Price Sample Clauses

Expression of Need for the Project by the Board; Determination of Purchase Price. (a) The Board hereby finds as of the date of this Master Lease, that it has an essential need for the Project to carry out and give effect to the public purposes of the Board. The Board and the Authority hereby agree and determine that the Base Rentals and items of Additional Rentals with respect to the Project are reasonable and that the Purchase Option Price with respect to the Project represents, as of the end of the Lease Term, a reasonable purchase price for the Project. In making such determination the Board and the Authority have given consideration to the costs of the Project, the cost of financing the Project, the uses and purposes for which the Project will be employed by the Board and the benefit to the citizens of the District by reason of the Board’s use and occupancy of the Project pursuant to the provisions of this Master Lease.
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Related to Expression of Need for the Project by the Board; Determination of Purchase Price

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