Representations by the Authority. The Authority represents and warrants that:
(1) It is a body corporate and politic constituting a public instrumentality and political subdivision of the State, duly organized and existing under the laws of the State including the Act. The Authority is authorized to issue the Bonds in accordance with the Act and to use the proceeds thereof to finance the Project.
(2) The Authority has complied with the provisions of the Act and has full power and authority pursuant to the Act to consummate all transactions contemplated by the Bonds, the Indenture and the Financing Documents.
(3) By resolution duly adopted by the Authority and still in full force and effect, the Authority has authorized the execution, delivery and due performance of the Bonds, the Indenture and the Financing Documents, and the taking of any and all action as may be required on the part of the Authority to carry out, give effect to and consummate the transactions contemplated by this Agreement and the Indenture, and all approvals necessary in connection with the foregoing have been received.
(4) The Bonds have been duly authorized, executed, authenticated, issued and delivered, constitute valid and binding special obligations of the Authority payable solely from revenues or other receipts, funds or monies pledged therefor under the Indenture and from any amounts otherwise available under the Indenture, and are entitled to the benefit of the Indenture. Neither the State nor any municipality thereof is obligated to pay the Bonds or the interest thereon. Neither the faith and credit nor the taxing power of the State nor any municipality thereof is pledged for the payment of the principal, and premium, if any, of and interest on the Bonds.
(5) The execution and delivery of the Bonds, the Indenture and the Financing Documents and compliance with the provisions thereof, will not conflict with or constitute on the part of the Authority a violation of, breach of or default under its by-laws or any statute, indenture, mortgage, deed of trust, note agreement or other agreement or instrument to which the Authority is a party or by which the Authority is bound, or, to the knowledge of the Authority, any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Authority or any of its activities or properties, and all consents, approvals, authorizations and orders of governmental or regulatory authorities which are required for the consummation by the Authority of...
Representations by the Authority. The Authority represents to each of the Sponsors that:
(a) Pursuant to the Act, the Authority is declared to be and is performing a public function and is existing under laws of the State with lawful power and authority to execute, deliver and perform the terms and obligations of this Agreement. Accordingly, this Agreement constitutes the legal, valid and binding obligation of the Authority, enforceable in accordance with its terms.
(b) The Agreement Resolution has been duly adopted by the Authority and the same has not been modified, amended or repealed.
(c) The execution and delivery of this Agreement by the Authority will not result in a breach of any of the terms of, or constitute a default under, any indenture, mortgage, deed of trust, lease or other agreement or instrument to which the Authority is a party or by which it or any of its property is bound or its bylaws or any of the constitutional or statutory rules or regulations applicable to the Authority or its property.
Representations by the Authority. The Authority makes the following representations as of the date of delivery of this Agreement:
(a) The Authority covenants that it is duly authorized under the laws of the State, including particularly and without limitation the Act, to issue the Bonds authorized hereby and to execute this Agreement, to assign the payments and amounts hereby assigned in the manner and to the extent herein set forth and to undertake the transactions contemplated by this Agreement and to carry out its obligations hereunder, and that all action on its part for the issuance of the Bonds and the execution and delivery of this Agreement has been duly and effectively taken; and
(b) By proper action of the Authority, the officers of the Authority executing and attesting this Agreement have been duly authorized to execute and deliver this Agreement.
Representations by the Authority. The Authority represents that:
(a) The Authority was duly created and is validly existing under the laws of the Commonwealth as a body corporate and politic constituting a public corporation and governmental instrumentality of the Commonwealth.
(b) Under the provisions of the Act, the Authority is duly authorized to enter into and to execute and deliver this Agreement, the Pledge Agreement and the Trust Agreement, to undertake the transactions contemplated by this Agreement and the Trust Agreement and to carry out its obligations hereunder and thereunder.
(c) By duly adopted resolution, the Authority has duly authorized the execution and delivery of this Agreement, the Trust Agreement and the Pledge Agreement and the issuance, sale, execution and delivery of the Bonds.
(d) Under existing law all payments received by the Authority pursuant to this Agreement are exempt from Commonwealth income taxation.
Representations by the Authority. The Authority makes the following representations as the basis for the undertaking on its part herein contained:
(a) The Authority is a municipal economic development authority duly organized and existing under the laws of the State. Under the provisions of the Act, the Authority has the power to enter into this Agreement and to perform its obligations hereunder, including the authority to utilize the powers of a municipal housing and redevelopment authority.
(b) The Project is a “redevelopment project” within the meaning of the Act and was created, adopted and approved in accordance with the terms of the Act.
Representations by the Authority. 8 Section 2.2. Representations by the Borrower....................................................... 10
Representations by the Authority. The Authority has been duly created and is existing under the laws of the State of Oklahoma and under the Trust Indenture creating the Authority it has the power to enter into the transactions contemplated by, and to carry out its obligations under, this Agreement and will do or cause to be done all things necessary to keep the Authority in existence and in good standing so long as necessary for the purposes thereof. The Authority is not in default under any of the provisions contained in its Trust Indenture or in the laws of Oklahoma or in any other instrument by which it is bound. By proper action of its Trustees, the Authority has been duly authorized to execute, deliver and perform this Agreement, the Warranty Deed attached hereto as Exhibit B, and the Bill xx Sale and Assignment attached hereto as Exhibit C.
Representations by the Authority. The Authority makes the following representations as the basis for the undertakings on its part herein contained:
(a) The Authority is a public body corporate and politic under the laws of Minnesota. The Authority has the power to enter into this Agreement and carry out its obligations hereunder.
(b) The persons executing this Agreement and related agreements and documents on behalf of the Authority have the authority to do so and to bind the Authority by their actions.
(c) The Authority has received no notice or communication from any local, State or federal official that the activities of the Developer or the Authority in the Development District may be or will be in violation of any environmental law or regulation. The Authority is aware of no facts the existence of which would cause it to be in violation of any local, State or federal environmental law, regulation or review procedure.
Representations by the Authority. The Authority represents and warrants to the Corporation and the Bond Trustee as follows:
Representations by the Authority. The Authority represents that:
(a) The Authority was duly created and is validly existing under the laws of the Commonwealth as a body corporate and politic constituting a public corporation and governmental instrumentality of the Commonwealth.
(b) Under the provisions of the Act, the Authority is duly authorized to enter into and to execute and deliver this Agreement, the Security Agreements to which it is a party and the Trust Agreement, to undertake the transactions contemplated by this Agreement, the Security Agreements to which it is a party and the Trust Agreement, and to carry out its obligations hereunder and thereunder.
(c) By duly adopted resolution, the Authority has duly authorized the execution and delivery of this Agreement, the Trust Agreement and the Security Agreements to which it is a party and the issuance, sale, execution and delivery of the Bonds.
(d) Under existing law all payments received by the Authority pursuant to this Agreement are exempt from Commonwealth income taxation, duties, assessments and governmental charges.
