Representations of the TID. To induce the Parties to enter into this Agreement, the TID Board of Trustees represents as follows:
(a) it is a transportation improvement district and a body both corporate and politic duly organized and validly existing under the laws of the State;
(b) it has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder;
(c) the execution, delivery, and performance of this Agreement have been duly authorized by all requisite action on the part of the TID and the TID Board of Trustees; and this Agreement, when executed and delivered by the TID, will constitute a legal, valid, and binding obligation of the TID; and
(d) the execution, delivery, and performance of this Agreement do not, and will not,
(1) violate any provision of law applicable to the TID or (2) result in a default under any agreement or instrument to which the TID is a party or by which it is bound.
Representations of the TID. To induce the CITY to enter into this Agreement, the TID represents to the CITY as follows:
(a) it is a transportation improvement district and a body both corporate and politic duly organized and validly existing under the laws of the State;
(b) it has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder;
(c) the execution, delivery, and performance of this Agreement have been duly authorized by all requisite action on the part of the TID and the Trustees; and this Agreement, when executed and delivered by the TID, will constitute a legal, valid, and binding obligation of the TID; and
(d) the execution, delivery, and performance of this Agreement do not, and will not,
(1) violate any provision of law applicable to the TID or (2) result in a default under any agreement or instrument to which the TID is a party or by which it is bound.
