Common use of Proceedings for Authorization of Additional Bonds Clause in Contracts

Proceedings for Authorization of Additional Bonds. Whenever the Authority and the County shall determine to execute and deliver any Additional Bonds pursuant to Section 3.03, the Authority and the Trustee shall enter into a Supplemental Trust Agreement providing for the issuance of such Additional Bonds, specifying the maximum principal amount of such Additional Bonds and prescribing the terms and conditions of such Additional Bonds. The Supplemental Trust Agreement shall prescribe the form or forms of such Additional Bonds and, subject to the provisions of Section 3.03, shall provide for the distinctive designation, denominations, method of numbering, dates, payment dates, interest rates (or method of determining the rates, if variable), interest payment dates, provisions for redemption (if desired) and places of payment of principal and interest. Before such Additional Bonds shall be issued, the County and the Authority shall file or cause to be filed the following documents with the Trustee: (a) An Opinion of Counsel setting forth that (1) such Counsel has examined the Supplemental Trust Agreement and the amendment to the Facilities Lease and the Site Lease required by Section 3.03(d), (e), and (f); (2) the execution and delivery of the Additional Bonds have been sufficiently and duly authorized by the County and the Authority; (3) said amendment to the Facilities Lease and the Site Lease if any, when duly executed by the County and the Authority, will be valid and binding obligations of the County and the Authority; and (4) all the conditions to the issuance of the Additional Bonds set forth in this Trust Agreement have been satisfied. (b) A Certificate of the Authority stating that the requirements of Section 3.03 have been met. (c) A certified copy of a resolution or ordinance of the County authorizing the execution of the amendments to the Facilities Lease required by Section 3.03(d), (e), and (f). (d) An executed counterpart or duly authenticated copy of any amendment to the Facilities Lease required by Section 3.03(d), (e), and (f). (e) A Certificate of the County stating that the insurance required by Sections 5.01, 5.02 and 5.03 of the Facilities Lease is in effect. (f) If the proceeds of such Additional Bonds are to be used, in whole or in part, to finance construction or acquire facilities on real property not then described in the Facilities Lease, an executed counterpart or duly authenticated copy of the Site Lease required by Section 3.03(f) that has been duly recorded in the official records of the County Recorder of the County. (g) A title insurance policy insuring the Authority’s leasehold or fee title in the real property on which the Facilities are located, and, if the proceeds of such Additional Bonds are to be used to finance construction on real property not then described in the Facilities Lease and such project is to be the Facilities leased hereunder, a title insurance policy insuring the Authority’s leasehold or fee title in such real property, such title insurance policy to be in an amount at least equal to the aggregate amount of outstanding Bonds (including Additional Bonds to be issued) or, at the option of the Authority, an opinion of counsel or Certificate of the County or such other evidence of the Authority’s or County’s leasehold or fee interest in such real property as shall be acceptable to the Authority. Upon the delivery to the Trustee of the foregoing instruments and upon the Trustee’s receipt of Certificates of the County and of the Authority stating that all applicable provisions of this Trust Agreement have been complied with (so as to permit the issuance of the Additional Bonds in accordance with the Supplemental Trust Agreement then delivered to the Trustee), the Trustee shall authenticate and deliver said Additional Bonds in the aggregate principal amount specified in such Supplemental Trust Agreement to, or upon the Written Request of, the Authority.

Proceedings for Authorization of Additional Bonds. Whenever the Authority and the County Corporation shall determine to execute and deliver any Additional Bonds by written request, pursuant to Section 3.032.11 hereof, request the execution and delivery of any Additional Bonds, the Authority and the Trustee shall enter into a Supplemental Trust Agreement Indenture without the consent of the Bondholders of any Bonds, providing for the issuance execution and delivery of such Additional Bonds, specifying the maximum principal amount of such Additional Bonds and prescribing the terms and conditions of such Additional Bonds. The Such Supplemental Trust Agreement Indenture shall prescribe the form or forms of such Additional Bonds and, subject to the provisions of Section 3.032.11 hereof, shall provide for the distinctive designation, denominations, method of numbering, dates, payment datesPrincipal Payment Dates, interest rates (or method of determining the rates, if variable), interest payment datesInterest Payment Dates, provisions for redemption (if desired) and places of payment of principal and interest. Before such Additional Bonds shall be issuedexecuted and delivered, the County Corporation and the Authority shall file or cause to be filed the following documents with the Trustee: (a) An Opinion of Counsel setting forth that (which may rely upon the Certificate of the County required by Section 2.12(c) and such other opinions and certificates as may be appropriate) substantially to the effect (1) that such Counsel has examined the Supplemental Trust Agreement Indenture and the amendment amendment, if any, to the Facilities Lease and the Site Lease Loan Agreement required by Section 3.03(d), (e), and (f); (22.11(f) that the execution and delivery of the Additional Bonds have has been sufficiently and duly authorized by the County and the Authority; (3) that said amendment amendments to the Facilities Lease and the Site Lease if anyLoan Agreement, when duly executed by the County Corporation and the Authority, will be valid and binding obligations of the County Corporation and the Authority; and (4) all the conditions that said amendments to the issuance of the Additional Bonds set forth in this Trust Loan Agreement have been satisfied.duly authorized, executed and delivered; and (5) that the amendments to the Loan Agreement do not adversely affect the tax-exempt status of interest on by Outstanding Bonds (b) An Opinion of Counsel (which may rely upon the Certificate of the County required by Section 2.12(c) and such other opinions and certificates as may be appropriate) substantially to the effect (1) that such Counsel has examined the Supplemental Indenture and the amendment, if any, to the Ground Lease and the Facility Lease required by Section 2.11(g) hereof; (2) that said amendments to the Ground Lease and the Facility Lease, when duly executed by the County and the Corporation, will be valid and binding obligations of the County and the Corporation; (4) that said amendments to the Ground Lease and the Facility Lease have been duly authorized, executed and delivered; and (5) that the amendments to the Ground Lease and the Facility Lease do not adversely affect the tax-exempt status of interest on by Outstanding Bonds; (c) A Certificate of the Authority stating that County as to the requirements annual fair rental value of Section 3.03 have been met. (c) A certified copy the Leased Property; which Certificate may assume the timely construction and completion of a resolution any Additional Project to be financed with the proceeds of Additional Bonds so long as the proceeds of Additional Bonds or ordinance other funds of the County have been deposited with the Trustee (i) in the Project Fund, in an amount reasonably expected to be sufficient to provide for the construction costs of such Additional Project, and (ii) in the Capitalized Interest Account, in an amount sufficient to pay interest on the Additional Bonds for the period of time from their date of issuance until 6 months following the expected delivery date of the certificate of substantial completion or similar evidence of beneficial use and possession with respect to such Additional Project; (d) Certified copies of the resolutions of the County and the Corporation, authorizing the execution of the amendments to the Facilities Ground Lease and Facility Lease required by Section 3.03(d), 2.11 hereof; (e)) Certified copies of the resolutions of the Authority and the Corporation, and authorizing the execution of the amendments to the Loan Agreement required by Section 2.11 hereof; (f). (d) An executed counterpart or duly authenticated copy of any amendment the amendments to the Facilities Loan Agreement, the Ground Lease and Facility Lease required by Section 3.03(d), (e), 2.11(f) and (f). (eg) A Certificate of the County stating that the insurance required by Sections 5.01, 5.02 and 5.03 of the Facilities Lease is in effect. (f) If the proceeds of such Additional Bonds are to be used, in whole or in part, to finance construction or acquire facilities on real property not then described in the Facilities Lease, an executed counterpart or duly authenticated copy of the Site Lease required by Section 3.03(f) that has been duly recorded in the official records of the County Recorder of the County.hereof; (g) Certified copies of the policies of insurance required by Article VI of the Facility Lease or certificates thereof, which shall evidence that the amounts of the insurance required under Section 6.03(1) and (2) of the Facility Lease have been increased, if necessary, to cover the amount of such Additional Bonds; and (h) A CLTA title insurance policy insuring the Authority’s leasehold or fee title other appropriate form of policy in the real property on which amount of the Facilities are located, and, if the proceeds of such Additional Bonds are to be used to finance construction on real property not then of the type and with the endorsements described in the Facilities Lease and such project is to be the Facilities leased hereunder, a title insurance policy insuring the Authority’s leasehold or fee title in such real property, such title insurance policy to be in an amount at least equal to the aggregate amount of outstanding Bonds (including Additional Bonds to be issued) or, at the option Section 6.05 of the Authority, an opinion of counsel or Certificate of the County or such other evidence of the Authority’s or County’s leasehold or fee interest in such real property as shall be acceptable to the AuthorityFacility Lease. Upon the delivery to the Trustee of the foregoing instruments and upon the Trustee’s receipt of Certificates of the County and of the Authority stating that all applicable provisions of this Trust Agreement have been complied with (so as to permit the issuance execution and delivery of the Additional Bonds in accordance with the Supplemental Trust Agreement Indenture then delivered to the Trustee), the Trustee shall authenticate and deliver said Additional Bonds Bonds, in the aggregate principal amount specified in such Supplemental Trust Agreement Indenture, to, or upon the Written Request request of, the AuthorityCorporation.

Proceedings for Authorization of Additional Bonds. Whenever the Authority and the County shall determine to execute and deliver any Additional Bonds pursuant to Section 3.033.02, the Authority and the Trustee shall enter into a Supplemental Trust Agreement Indenture providing for the issuance of such Additional Bonds, specifying the maximum principal amount of such Additional Bonds and prescribing the terms and conditions of such Additional Bonds. The Supplemental Trust Agreement Indenture shall prescribe the form or forms of such Additional Bonds and, subject to the provisions of Section 3.033.02, shall provide for the distinctive designation, denominations, method of numbering, dates, payment dates, interest rates (or method of determining the rates, if variable), interest payment dates, provisions for redemption (if desired) and places of payment of principal and interest. Before such Additional Bonds shall be issued, the County and the Authority shall file or cause to be filed the following documents with the Trustee: (a) An Opinion of Counsel setting forth that (1) such Counsel has examined the Supplemental Trust Agreement Indenture and the amendment to the Facilities Facility Lease and the Site Lease required by Section 3.03(d3.02(d), (e), and (f); (2) the execution and delivery of the Additional Bonds have been sufficiently and duly authorized by the County and the Authority; (3) said amendment to the Facilities Facility Lease and the Site Lease if any, when duly executed by the County and the Authority, will be valid and binding obligations of the County and the Authority; and (4) all the conditions to the issuance of the Additional Bonds set forth in this Trust Agreement Indenture have been satisfied. (b) A Certificate of the Authority stating that the requirements of Section 3.03 3.02 have been met. (c) A certified copy of a resolution or ordinance of the County authorizing the execution of the amendments to the Facilities Facility Lease required by Section 3.03(d3.02(d), (e), and (f). (d) An executed counterpart or duly authenticated copy of any amendment to the Facilities Facility Lease required by Section 3.03(d3.02(d), (e), and (f)) that has been duly recorded in the official records of the County Recorder of the County. (e) A Certificate of the County stating that the insurance required by Sections 5.01, 5.02 and 5.03 of the Facilities Facility Lease relating to such Series of Bonds is in effect. (f) If the proceeds of such Additional Bonds are to be used, in whole or in part, to finance construction or acquire facilities on real property not then described in the Facilities Facility Lease, an executed counterpart or duly authenticated copy of the Site Lease required by Section 3.03(f3.02(f) that has been duly recorded in the official records of the County Recorder of the County. (g) A title insurance policy insuring the Authority’s leasehold or fee title in the real property on which the Facilities are located, and, if the proceeds of such Additional Bonds are to be used to finance construction on real property not then described in the Facilities Lease and such project is to be the Facilities leased hereunderFacility Lease, a title insurance policy insuring the Authority’s leasehold or fee title in such real property, such title insurance policy to be in an amount at least equal to the aggregate amount of outstanding Bonds (including Additional Bonds to be issued) or, at the option of the Authority, an opinion of counsel or Certificate of the County or such other evidence of the Authority’s or County’s leasehold or fee interest in such real property as shall be acceptable to the Authority. Upon the delivery to the Trustee of the foregoing instruments and upon the Trustee’s receipt of Certificates of the County and of the Authority stating that all applicable provisions of this Trust Agreement Indenture have been complied with (so as to permit the issuance of the Additional Bonds in accordance with the Supplemental Trust Agreement Indenture then delivered to the Trustee), the Trustee shall authenticate and deliver said Additional Bonds in the aggregate principal amount specified in such Supplemental Trust Agreement Indenture to, or upon the Written Request of, the Authority.