Common use of Issuance of Additional Bonds Clause in Contracts

Issuance of Additional Bonds. Additional bonds may be sold and issued by the Authority at any time and from time to time (subject to any agreements relating to any prior series of Bonds) in the event, for any reason, the proceeds derived from the sale of the Bonds previously issued shall be insufficient for the purpose of completing the Project. The Authority may also issue Bonds from time to time to refund either on a current or advance basis any Bonds previously issued by the Authority pursuant to Section 602. Additional Bonds may be sold and issued by the Authority (subject to any agreements relating to any prior series of Bonds) at any time and from time to time in the event funds are required to pay the costs of: (i) any major renewals, replacements, repairs, additions, betterment, or improvements, to the Project necessary or convenient in the judgment of the Authority to keep the Project in good operating condition or to prevent a loss of revenues therefrom; and (ii) any major additions, improvements, repairs, or modifications to the Project required by any state or federal agency having jurisdiction over the Project or any facility thereof. Any such Additional Bonds shall be secured by assignment of the payments to be made by the Participants pursuant to their intergovernmental agreements relating to such Bonds, and all other payments attributable to the Project or to the Annual Project Costs to be made in accordance with or pursuant to any other provision of this Agreement, as such payments may be increased and extended by reason of the issuance of such Additional Bonds, and such Additional Bonds may be issued in amounts sufficient to pay the full amount of such costs and sufficient to provide such reserves as may be reasonably determined by the Authority to be desirable. In the event that any Participant shall elect to expand the treatment capacity of the Project, and the other Participant shall not choose to join in such expansion as provided in Section 402, then the Authority may issue Additional Bonds to finance the costs of such expansion in treatment capacity, and all costs of issuing and carrying such Additional Bonds shall be paid by the Participant requesting such expansion.

Issuance of Additional Bonds. Additional bonds If the Company is not in default hereunder, the Issuer may be sold and issued by the Authority adoption of an appropriate resolution or resolutions, at any time and from time to time (subject to any agreements relating to any prior series of Bonds) in the event, for any reason, the proceeds derived from the sale request of the Company, authorize the issuance of Additional Bonds previously issued upon the terms and conditions provided herein and in Section 2.02 of the Indenture, but in no event shall the Issuer be insufficient liable for the purpose of completing the Project. The Authority may also issue Bonds from time to time to refund either on a current or advance basis any Bonds previously issued by the Authority pursuant to Section 602not issuing such Additional Bonds. Additional Bonds may be sold issued under and issued secured by the Authority (subject to any agreements relating to any prior series of Bonds) Indenture at any one time and or from time to time in the event funds are required to pay the costs of: (i) any major renewals, replacements, repairs, additions, betterment, or improvements, subject to the Project necessary conditions hereinafter provided in this Section, for the purpose of providing funds for paying all or convenient in the judgment any portion of the Authority to keep cost of completing the Project in good operating condition or excess of the amounts made available from proceeds of the 1985 Series B Bonds, such total cost to prevent be evidenced by a loss of revenues therefrom; and (ii) any major additions, improvements, repairscertificate signed by the Authorized Company Representative, or modifications to for the Project required by purpose of paying all or any state or federal agency having jurisdiction over part of the Cost of the Project or of any facility thereof. Any such Additional Bonds shall be secured by assignment improvements thereto or for the purpose of providing funds for refunding any or all of the payments Bonds then outstanding including any redemption premium due thereon, or for any lawful purposes under the Act, or for any combination of such purposes. Prior to be made by the Participants pursuant to their intergovernmental agreements relating to such Bonds, and all other payments attributable to the Project or to the Annual Project Costs to be made in accordance with or pursuant to any other provision of this Agreement, as such payments may be increased and extended by reason of the issuance of such Additional Bonds, the terms thereof, the purchase price to be paid therefor and such the manner in which the proceeds therefrom are to be disbursed shall have been approved in writing by the Company; the Company and the Issuer shall have entered into an amendment to this Agreement to provide that, for all purposes of this Agreement, the Project shall include any facilities being financed by the Additional Bonds may Bonds, which facilities shall be issued described in amounts sufficient an amendment to Exhibit A hereto, and to provide for an increase in the amount payable under Section 4.2 hereof as shall be necessary to pay the full amount of such costs and sufficient to provide such reserves as may be reasonably determined by the Authority to be desirable. In the event that any Participant shall elect to expand the treatment capacity of the Projectprincipal of, premium, if any, and interest on the other Participant shall not choose to join in such expansion Additional Bonds as provided in Section 402, then the Authority may issue supplemental indenture to be paid with respect to Additional Bonds authorized by Section 2.02 of the Indenture, and to finance extend the costs term of this Agreement if the maturity of any of the Additional Bonds would otherwise occur after the expiration of the term of this Agreement; and the Issuer shall have otherwise complied with the provisions of Section 2.02 of the Indenture with respect to the issuance of such expansion in treatment capacity, and all costs of issuing and carrying such Additional Bonds shall be paid by the Participant requesting such expansionBonds.

Issuance of Additional Bonds. So long as the Agreement is in effect and no Event of Default shall have occurred thereunder and there is no Event of Default hereunder, one or more series of Additional bonds Bonds may be sold and issued authorized by resolution of the Authority at any time and from time to time (subject to any agreements relating to any prior series of Bonds) in the event, for any reason, the proceeds derived from the sale of the Bonds previously issued shall be insufficient pay Costs or for the purpose of completing the Project. The Authority may also issue Bonds from time to time to refund either on a current or advance basis any Bonds previously issued by the Authority pursuant to Section 602. Additional Bonds may be sold and issued by the Authority (subject to any agreements relating to refunding any prior series issue of Bonds) at any time and from time to time in the event funds are required to pay the costs of: (i) any major renewals, replacements, repairs, additions, betterment, or improvements, to the Project necessary or convenient in the judgment of the Authority to keep the Project in good operating condition or to prevent a loss of revenues therefrom; and (ii) any major additions, improvements, repairs, or modifications to the Project required by any state or federal agency having jurisdiction over the Project or any facility thereof. Any such Such Additional Bonds shall be secured by assignment issued in such series and principal amounts, shall be subject to redemption at such times and at such prices, shall bear interest at such rate or rates, shall mature in such amounts as the Supplemental Indenture authorizing the issuance thereof and the resolution of the payments Authority in connection therewith shall fix and determine not inconsistent with this Indenture. Such Supplemental Indenture shall specify and determine the purpose for which such Additional Bonds are to be made by issued (but no purpose shall be authorized other than paying Costs of the Participants pursuant Project, including any addition to their intergovernmental agreements relating to such the Project) or for the purpose of refunding any prior issue of Bonds, and all such other payments attributable to the Project or to the Annual Project Costs to be made in accordance with or pursuant to any other provision of this Agreement, matters and things as such payments may be increased deemed necessary or appropriate by the Authority or as may be required by the Act, the Agreement or this Indenture for authorization and extended by reason of the issuance of such Additional BondsBonds not inconsistent with this Indenture. Prior to the issuance of Additional Bonds and the execution and delivery of a Supplemental Indenture in connection therewith, the Authority and the Company shall enter into an amendment to the Agreement pursuant to Article XI hereof which shall provide that the payments due under the Agreement shall be increased and computed so as to provide for payments sufficient to pay in full the principal of and interest on such Additional Bonds may be issued and any other costs in amounts sufficient connection therewith. For the issuance of Additional Bonds to pay the full amount of such costs and sufficient to provide such reserves as may be reasonably determined by the Authority to be desirable. In the event that any Participant shall elect to expand the treatment capacity for Costs of the Project, and the other Participant shall not choose Company is also required to join in deliver to the Trustee the following: (a) a cost estimate of the Costs of the Project proposed to be constructed from the proceeds of such expansion as provided in Section 402, then the Authority may issue Additional Bonds prepared by an architect or engineering firm or a list of equipment with cost estimates prepared by the Company and substantiated by estimates from vendors; (b) a feasibility report prepared in accordance with GAAP by an independent certified public accountant certifying that monies available for debt service for the Company, upon completion of the proposed addition to finance the costs Project, is equal to 125% of such expansion in treatment capacitythe debt service necessary for the Bonds. For purposes hereof, monies available for debt service means cash flow of the Company from operations less operating expenses (minus depreciation); and (c) an MAI (Member, Appraisal Institute) appraisal certifying that the fair market value of the bond financed facility, including additions thereto and all costs equipment financed with the Additional Bonds, is equal to 125% of issuing and carrying such the principal amount of the Bonds Outstanding, after the issue of the Additional Bonds. Each series of Additional Bonds shall be paid equally and ratably secured under the Indenture with the Initial Bonds and all other series of Additional Bonds, if any, without preference, priority or a distinction of any Bonds over any other thereof except as expressly provided in or permitted by the Participant requesting such expansionIndenture or any Supplemental Indenture. The Additional Bonds shall be deposited with the Trustee and thereupon shall be authenticated by the Trustee. Upon payment to the Trustee of the proceeds of sale of Additional Bonds, they shall be delivered by the Trustee to or upon the order of the purchasers thereof, but only upon receipt by the Trustee of: (a) A copy of the resolution, duly certified by the Secretary or the Assistant Secretary of the Authority, authorizing the execution and delivery of the Supplemental Indenture and authorizing and awarding the Additional Bonds and providing the terms thereof; and (b) Original executed counterparts of the Supplemental Indenture, together with an original executed counterpart amendment of, or supplement to, the Agreement, and the other Loan Documents reflecting the increase in the amount of Bonds Outstanding in the amount of the Loans; and (c) A written opinion by an attorney or firm of attorneys of recognized standing on the subject of municipal bonds, to the effect that the issuance of the Additional Bonds and the execution thereof have been duly authorized and that all conditions precedent to the delivery thereof as required hereunder have been fulfilled and that the Additional Bonds constitute legal, valid and binding obligations of the Authority enforceable in accordance with their terms and that the issuance of the Additional Bonds will not adversely affect the exclusion of interest on the Tax- exempt Bonds from gross income for federal income tax purposes and with a reliance letter to the Trustee confirming the above; and (d) A written order to the Trustee executed by an Authorized Authority Representative to authenticate and deliver the Additional Bonds to the purchaser or purchasers therein identified upon payment to the Trustee of a specified sum; and (e) All other documents reasonably required by the Authority and the Trustee.

Issuance of Additional Bonds. Additional bonds The City, at the direction of Lessee, may be sold and issued by the Authority at any time and from time to time (subject to any agreements relating to any prior series of Bonds) in the event, for any reason, the proceeds derived from the sale of the Bonds previously issued shall be insufficient for the purpose of completing the Project. The Authority may also issue Bonds from time to time to refund either on a current or advance basis any Bonds previously issued by the Authority pursuant to Section 602. Additional Bonds may be sold and issued by the Authority (subject to any agreements relating to any prior series of Bonds) at any time and from time to time in the event funds are required amounts sufficient to pay the costs of: (i) any major renewals, replacements, repairs, additions, bettermentpart of the Costs of the Projects not fully funded or provided for out of the proceeds of the Series 1997C Bonds or Series 1998C Bonds, or improvements, to the Project necessary or convenient in the judgment of the Authority to keep the Project in good operating condition or to prevent a loss of revenues therefrom; and (ii) the Costs of the Special Facilities for any major additionsadditional Special Facilities approved pursuant to Section 5.05 hereof. The City agrees to use its best efforts to issue any Additional Bonds required under Clause (i) above, improvementsand the Director shall cooperate in a reasonable manner with Lessee to request the City to issue Additional Bonds under Clause (ii) above; however, repairsno representation is made or assurance given or implied by the City that it will be able to issue, sell and deliver Additional Bonds on terms and conditions satisfactory to Lessee or modifications that it will agree to issue Additional Bonds for any other purpose than as set forth above. Moreover, the issuance of Additional Bonds is made subject to the Project required same conditions enumerated in Section 4.01 and the additional condition that there shall have been executed a supplement to this Agreement to provide for the manner of construction, acquisition and payment for any additional Special Facilities to be financed with such Additional Bonds and to provide for any other matters reasonably deemed necessary by any state or federal agency having jurisdiction over the Project or any facility thereofCity in connection with such financing. Any such All Additional Bonds shall be secured by assignment of and payable as provided in the payments to be made by the Participants pursuant to their intergovernmental agreements relating to such Bonds, and all other payments attributable to the Project or to the Annual Project Costs to be made in accordance with or pursuant to any other provision of this Agreement, as such payments may be increased and extended by reason of Trust Indenture. Upon the issuance of such any Additional Bonds, and such Additional Bonds may the Net Rent payable hereunder shall automatically be issued increased in the amounts sufficient required to pay provide for the full amount and timely payment of such all principal, interest, redemption premiums, Trustee charges and other related costs and sufficient to provide such reserves as may be reasonably determined by expenses on all Bonds then outstanding, including the Authority to be desirable. In the event that any Participant shall elect to expand the treatment capacity of the Project, and the other Participant shall not choose to join in such expansion as provided in Section 402, then the Authority may issue Additional Bonds to finance be issued. However, the costs City shall not authorize the issuance of such expansion in treatment capacity, and all costs of issuing and carrying such Additional Bonds until the terms thereof and of the supplement to the Trust Indenture relating thereto have been approved in writing by Lessee, which written approval shall be paid by the Participant requesting such expansionconclusively binding upon Lessee.

Issuance of Additional Bonds. Additional bonds If the Borrower is not in default hereunder, the Issuer may be sold and issued by the Authority adoption of an appropriate resolution or resolutions, at the request of the Borrower, authorize the issuance of Additional Bonds upon the terms and conditions provided herein and in Section 2.13 of the Indenture, but in no event shall the Issuer be liable for not issuing such Additional Bonds. Additional Bonds may only be issued to provide funds to pay any one or more of the following: (i) the costs of completing the Project; (ii) the costs of making at any time and or from time to time (subject to any agreements relating to any prior series of Bonds) in the event, for any reason, the proceeds derived from the sale of the Bonds previously issued shall be insufficient for the purpose of completing the Project. The Authority may also issue Bonds from time to time to refund either on a current or advance basis any Bonds previously issued by the Authority pursuant to Section 602. Additional Bonds may be sold and issued by the Authority (subject to any agreements relating to any prior series of Bonds) at any time and from time to time in the event funds are required to pay the costs of: (i) any major renewals, replacements, repairssuch substitutions, additions, betterment, or improvements, modifications and improvements to the Project necessary or convenient in the judgment of the Authority to keep the Project in good operating condition or to prevent a loss of revenues therefrom; and (ii) any major additions, improvements, repairs, or modifications to the Project required by any state or federal agency having jurisdiction over the Project or any facility portion thereof. Any such , as authorized by the Act, as the Borrower may deem necessary or desirable; (iii) the costs of refunding, to the extent permitted, any Bonds then Outstanding; and (iv) the costs of the issuance and sale of the Additional Bonds Bonds, interest expenses during the construction period and other costs reasonably related to the financing as shall be secured by assignment of the payments to be made agreed upon by the Participants pursuant Borrower and the Issuer. Prior to their intergovernmental agreements relating to such Bonds, and all other payments attributable to the Project or to the Annual Project Costs to be made in accordance with or pursuant to any other provision of this Agreement, as such payments may be increased and extended by reason of the issuance of such Additional Bonds, the terms thereof, the purchase price to be paid therefor and such the manner in which the proceeds therefrom are to be disbursed shall have been approved in writing by the Borrower, the Borrower and the Issuer shall have entered into an amendment to this Agreement to provide that, for all purposes of this Agreement, the Project shall include any facilities being financed by the Additional Bonds may Bonds, which facilities shall be issued described in amounts sufficient amendments to Exhibit A hereto, and to provide for an increase in the amount payable under Section 4.2 hereof as shall be necessary to pay the full amount of such costs and sufficient to provide such reserves as may be reasonably determined by the Authority to be desirable. In the event that any Participant shall elect to expand the treatment capacity of the Projectprincipal of, premium, if any, and interest on the other Participant shall not choose to join in such expansion Additional Bonds as provided in Section 402, then the Authority may issue supplemental indenture to be paid with respect to Additional Bonds required by Section 2.13 of the Indenture, and to finance extend the costs term of this Agreement if the maturity of any of the Additional Bonds would otherwise occur after the expiration of the term of this Agreement; and the Issuer shall have otherwise complied with the provisions of Section 2.13 of the Indenture with respect to the issuance of such expansion in treatment capacity, and all costs of issuing and carrying such Additional Bonds shall be paid by the Participant requesting such expansion.Bonds

Issuance of Additional Bonds. Additional bonds The City, at the direction of Lessee, may be sold and issued by the Authority at any time and from time to time (subject to any agreements relating to any prior series of Bonds) in the event, for any reason, the proceeds derived from the sale of the Bonds previously issued shall be insufficient for the purpose of completing the Project. The Authority may also issue Bonds from time to time to refund either on a current or advance basis any Bonds previously issued by the Authority pursuant to Section 602. Additional Bonds may be sold and issued by the Authority (subject to any agreements relating to any prior series of Bonds) at any time and from time to time in the event funds are required amounts sufficient to pay the costs of: (i) any major renewals, replacements, repairs, additions, bettermentpart of the Costs of the Projects not fully funded or provided for out of the proceeds of the Series 1997B Bonds or Series 1998B Bonds, or improvements, to the Project necessary or convenient in the judgment of the Authority to keep the Project in good operating condition or to prevent a loss of revenues therefrom; and (ii) the Costs of the Special Facilities for any major additionsadditional Special Facilities approved pursuant to Section 5.05 hereof. The City agrees to use its best efforts to issue any Additional Bonds required under Clause (i) above, improvementsand the Director shall cooperate in a reasonable manner with Lessee to request the City to issue Additional Bonds under Clause (ii) above; however, repairsno representation is made or assurance given or implied by the City that it will be able to issue, sell and deliver Additional Bonds on terms and conditions satisfactory to Lessee or modifications that it will agree to issue Additional Bonds for any other purpose than as set forth above. Moreover, the issuance of Additional Bonds is made subject to the Project required same conditions enumerated in Section 4.01 and the additional condition that there shall have been executed a supplement to this Agreement to provide for the manner of construction, acquisition and payment for any additional Special Facilities to be financed with such Additional Bonds and to provide for any other matters reasonably deemed necessary by any state or federal agency having jurisdiction over the Project or any facility thereofCity in connection with such financing. Any such All Additional Bonds shall be secured by assignment of and payable as provided in the payments to be made by the Participants pursuant to their intergovernmental agreements relating to such Bonds, and all other payments attributable to the Project or to the Annual Project Costs to be made in accordance with or pursuant to any other provision of this Agreement, as such payments may be increased and extended by reason of Trust Indenture. Upon the issuance of such any Additional Bonds, and such Additional Bonds may the Net Rent payable hereunder shall automatically be issued increased in the amounts sufficient required to pay provide for the full amount and timely payment of such all principal, interest, redemption premiums, Trustee charges and other related costs and sufficient to provide such reserves as may be reasonably determined by expenses on all Bonds then outstanding, including the Authority to be desirable. In the event that any Participant shall elect to expand the treatment capacity of the Project, and the other Participant shall not choose to join in such expansion as provided in Section 402, then the Authority may issue Additional Bonds to finance be issued. However, the costs City shall not authorize the issuance of such expansion in treatment capacity, and all costs of issuing and carrying such Additional Bonds until the terms thereof and of the supplement to the Trust Indenture relating thereto have been approved in writing by Lessee, which written approval shall be paid by the Participant requesting such expansionconclusively binding upon Lessee.