Terms of Special Purpose Bonds Sample Clauses

Terms of Special Purpose Bonds. The Special Purpose Bonds authorized by the resolution referred to in Section 13.02 of this Article XIII shall be revenue bonds payable solely from rentals or other charges derived by the Authority under and pursuant to a lease or leases relating, to the Special Purpose Facilities entered into by and between the Authority, as lessor, and such person, firm or corporation, either public or private, as shall lease, as lessee, the Special Purpose Facilities from the Authority, and may be issued by the Authority notwithstanding the limitations, restrictions and conditions hereinbefore contained in this resolution relating to the issuance of pari passu additional Bonds or other obligations; provided, however, that no such Special Purpose Bonds shall be issued by the Authority unless the Airport Consultant shall have, prior thereto, filed with the Authority a certificate, executed by the Airport Consultant, certifying that the estimated rentals or other charges to be derived by the Authority under and pursuant to the leases, loan agreements, promissory notes or other payment arrangements relating to the Special Purpose Facilities then being financed with such Special Purpose Bonds will be at least sufficient to pay the principal of and interest on such Special Purpose Bonds as the same mature and become due, all costs of operating and maintaining such Special Purpose Facilities not paid for by the lessee thereof and all sinking fund, reserve or other payments required by the resolution authorizing the Special Purpose Bonds as the same become due, and further certifying that the construction and operation of such Special Purpose Facilities will not decrease the Revenues to be derived by the Authority from said Airport System; and provided, further, that no such Special Purpose Bonds shall be issued by the Authority until the Authority has entered into a lease as aforesaid which lease shall be for a term at least as long as the period during which such Special Purpose Bonds are Outstanding, and unpaid and which lease shall provide for annual payments to the Authority, in addition to all rentals and other charges for the use of the Special Purpose Facilities, of ground rent in an amount which is determined by the parties to such lease to be a fair and reasonable rental for the land on which said Special Purpose Facilities are constructed.
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