Common use of Purpose of Corporation; Certain Covenants Clause in Contracts

Purpose of Corporation; Certain Covenants. The Corporation hereby represents that its principal purpose is to acquire or lease real and/or personal property and develop, finance, refinance, construct, acquire, install and operate certain public facilities to be used by the County and such other projects located in and for the benefit of the County as may be permitted by applicable law. In order to provide assurances to Holders that nothing will be done that would jeopardize the Corporation’s interest in the Real Property or the Project Facilities or that might adversely affect the will or desire of the County to continue to occupy the Real Property or the Project Facilities, the Corporation hereby covenants that so long as any of the Series 2020 Bonds are Outstanding it will not do any of the following without the written consent of the County: (i) undertake any projects for any entity other than the County; (ii) amend its Articles of Incorporation to change its principal purpose or to engage in activities that are not in support of its principal purpose; or (iii) incur any obligation for borrowed money or incur any other indebtedness not associated with the Series 2020 Bonds or this Trust Agreement. Prior to taking any such action, the Corporation shall file with the Trustee the written consent of the County and an opinion of Bond Counsel to the effect that such proposed action will not adversely affect the tax status of interest on the Series 2020 Bonds. [End of Article II] ARTICLE III‌

Purpose of Corporation; Certain Covenants. The Corporation hereby represents that its principal purpose is to acquire or lease real and/or personal property and develop, finance, refinance, construct, acquire, install and operate certain public facilities to be used by the County and such other projects located in and for the benefit of the County as may be permitted by applicable law. In order to provide assurances to Holders that nothing will be done that would jeopardize the Corporation’s interest in the Real Property or the Project Facilities or that might adversely affect the will or desire of the County to continue to occupy the Real Property or the Project Facilities, the Corporation hereby covenants that so long as any of the Series 2020 Bonds Notes are Outstanding it will not do any of the following without the written consent of the County: (i) undertake any projects for any entity other than the County without the written consent of the County; (ii) amend its Articles of Incorporation to change its principal purpose or to engage in activities that are not in support of its principal purpose; or (iii) incur any obligation for borrowed money or incur any other indebtedness not associated with the Series 2020 Bonds Notes or this Trust Agreement. Prior to taking any such action, the Corporation shall file with the Trustee the written consent of the County and an opinion of Bond Counsel to the effect that such proposed action will not adversely affect the tax status of interest on the Series 2020 BondsNotes. [End of Article II] ARTICLE III‌III

Purpose of Corporation; Certain Covenants. The Corporation hereby represents that its principal purpose is to acquire or lease real and/or personal property and develop, finance, refinance, construct, acquire, install and operate certain public facilities to be used by the County and such other projects located in and for the benefit of the County as may be permitted by applicable law. In order to provide assurances to Holders that nothing will be done that would jeopardize the Corporation’s interest in the Real Property or the Project Facilities or that might adversely affect the will or desire of the County to continue to occupy the Real Property or the Project Facilities, the Corporation hereby covenants that so long as any of the Series 2020 Bonds Notes are Outstanding it will not do any of the following without the written consent of the County: (i) undertake any projects for any entity other than the County without the written consent of the County; (ii) amend its Articles of Incorporation to change its principal purpose or to engage in activities that are not in support of its principal purpose; or (iii) incur any obligation for borrowed money or incur any other indebtedness not associated with the Series 2020 Bonds Notes or this Trust Agreement. Prior to taking any such action, the Corporation shall file with the Trustee the written consent of the County and an opinion of Bond Counsel to the effect that such proposed action will not adversely affect the tax status of interest on the Series 2020 BondsNotes. [End of Article II] ARTICLE III‌