LEGAL AUTHORIZATION. Upon signing this Agreement, the Local Government’s legal counsel hereby expresses the opinion, subject to laws affecting the rights of creditors generally, that: (1) This Agreement has been duly authorized by the Local Government and shall constitute a valid and legal obligation of the Local Government enforceable in accordance with its terms upon execution by both parties; and (2) This Agreement identifies the revenues pledged for repayment of the Loan, and the pledge is valid and enforceable.
Appears in 5 contracts
Samples: State Revolving Fund Loan Agreement, Clean Water State Revolving Fund Construction Loan Agreement, Clean Water State Revolving Fund Construction Loan Agreement
LEGAL AUTHORIZATION. Upon signing this Agreement, the Local Government’s legal counsel hereby expresses the opinion, subject to laws affecting the rights of creditors generally, that:
(1) This Agreement has been duly authorized by the Local Government and shall constitute a valid and legal obligation of the Local Government enforceable in accordance with its terms upon execution by both parties; and
(2) This Agreement identifies specifies the revenues pledged for repayment of the Loan, and the pledge is valid and enforceable.
Appears in 3 contracts
Samples: Clean Water State Revolving Fund Construction Loan Agreement, Clean Water State Revolving Fund Construction Loan Agreement, Clean Water State Revolving Fund Construction Loan Agreement
LEGAL AUTHORIZATION. Upon signing this Agreement, the Local GovernmentBorrower’s legal counsel hereby expresses the opinion, subject to laws affecting the rights of creditors generally, that:
(1) This Agreement has been duly authorized by the Local Government Borrower and shall constitute a valid and legal obligation of the Local Government Borrower enforceable in accordance with its terms upon execution by both parties; and
(2) This Agreement identifies the revenues pledged for repayment of the Loan, and the pledge is valid and enforceable.
Appears in 1 contract
Samples: Clean Water State Revolving Fund Construction Loan Agreement
LEGAL AUTHORIZATION. Upon signing this Agreement, the Local GovernmentBorrower’s legal counsel hereby expresses the opinion, subject to laws affecting the rights of creditors generally, that:
(1) This Agreement has been duly authorized by the Local Government Borrower and shall constitute a valid and legal obligation of the Local Government Borrower enforceable in accordance with its terms upon execution by both parties; and
(2) This Agreement identifies specifies the revenues pledged for repayment of the Loan, and the pledge is valid and enforceable.
Appears in 1 contract
