No Trustee or Credit Enhancers if All Bonds Paid. If all the Bonds are paid within the meaning of the Indenture, the Trustee will release to the District all its rights hereunder, and thereafter any right or duty of the Trustee or any Credit Enhancer hereunder shall be the right or duty of the District. STATE OF SOUTH DAKOTA BOARD OF WATER AND NATURAL RESOURCES BY: (SEAL) Chairman Board of Water and Natural Resources ATTEST: Secretary Board of Water and Natural Resources [Signature page to Revenue Obligation Loan Agreement – Rapid City DWSRF – C ] CITY OF RAPID CITY, SOUTH DAKOTA, as Borrower BY:
No Trustee or Credit Enhancers if All Bonds Paid. If all the Bonds are paid within the meaning of the Indenture, the Trustee will release to the District all its rights hereunder, and thereafter any right or duty of the Trustee or any Credit Enhancer hereunder shall be the right or duty of the District.
No Trustee or Credit Enhancers if All Bonds Paid. If all the Bonds are paid within the meaning of the Indenture, the Trustee will release to the District all its rights hereunder, and thereafter any right or duty of the Trustee or any Credit Enhancer hereunder shall be the right or duty of the District. STATE OF SOUTH DAKOTA BOARD OF WATER AND NATURAL RESOURCES (SEAL) ATTEST: BY: Chairman, Board of Water and Natural Resources Secretary, Board of Water and Natural Resources [Signature page to Revenue Obligation Loan Agreement] (SEAL) CITY OF RAPID CITY, SOUTH DAKOTA, as Borrower BY: Mayor ATTEST: COUNTERSIGNED BY: Finance Officer Resident Attorney [Signature page to Revenue Obligation Loan Agreement] Accepted and Agreed to by: THE FIRST NATIONAL BANK IN SIOUX FALLS, As Trustee By Its Assistant Vice President [Signature page to Revenue Obligation Loan Agreement] DWSRF-#02 Draft of 8/26/09 APPENDIX A DESCRIPTION OF THE PROJECT The project consists of upgrades to the City’s water treatment facilities as described in [Phase of] the City’s facilities plan dated . The Borrower hereby certifies that the description of the property, improvements and activities set forth above constitutes an accurate description of the property, improvements and activities the costs of which are being financed, refinanced or reimbursed pursuant to the attached Loan Agreement. In case any portion of the Project is being refinanced, an accurate description of such debt and the dates on which it will be paid from proceeds of the Loan are also set forth above. CITY OF RAPID CITY, SOUTH DAKOTA Borrower By Title: Xxxxx X. Xxxxxxx, Finance Officer Dated: , 0000 XXXXXXXX X FORM OF BORROWER BOND FOR VALUE RECEIVED, the undersigned, the City of Rapid City, South Dakota (the “Borrower”), promises to pay, but only from the sources described herein, to the order of the South Dakota Conservancy District (the “District”), or its successors and assigns, the principal sum equal to the sum of the amounts entered on Schedule A hereto under “Total Amount Advanced,” with interest on each such amount from the date such amount is advanced hereunder at the rate of 2.50% per annum on the unpaid balance until paid. In addition, the Borrower shall pay an Administrative Expense Surcharge on the outstanding principal amount of this Borrower Bond at a rate of .50% per annum. The said principal and interest and Administrative Expense Surcharge shall be payable in quarterly installments, each payable on the 15th day of January, April, July, and October of each ye...
No Trustee or Credit Enhancers if All Bonds Paid. If all the Bonds are paid within the meaning of the Indenture, the Trustee will release to the District all its rights hereunder, and thereafter any right or duty of the Trustee or any Credit Enhancer hereunder shall be the right or duty of the District. STATE OF SOUTH DAKOTA BOARD OF WATER AND NATURAL RESOURCES BY: ________________________________________ Chairman, Board of Water and Natural Resources (SEAL) ATTEST: ______________________________ Secretary, Board of Water and Natural Resources (SEAL) CITY OF RAPID CITY, SOUTH DAKOTA, as Borrower BY: _______________________________ Mayor ATTEST: COUNTERSIGNED BY: _____________________________ ___________________________________ Finance Officer Resident Attorney [Signature page to Revenue Obligation Loan Agreement] Accepted and Agreed to by: THE FIRST NATIONAL BANK IN SIOUX FALLS, As Trustee By _____________________________ Its Assistant Vice President
