Examples of Series 2014 Notes in a sentence
No provision, covenant, or agreement contained in the aforementioned documents, the Series 2014 Notes, or in any other document relating to the Series 2014 Notes, and no obligation therein or herein imposed upon the City or the breach thereof, shall constitute or give rise to a general or moral obligation of the City or any pecuniary liability of the City or any charge upon its general credit or taxing powers.
In making the agreements, provisions, covenants, and representations set forth in such documents, the City has not obligated itself to pay or remit any funds or revenues, other than funds and revenues derived from the Loan Agreement, which are to be applied to the payment of the Series 2014 Notes, as provided therein.
The loan repayments to be made by the Borrower under the Loan Agreement are to be fixed so as to produce revenues sufficient to pay the principal of, premium, if any, and interest on the Series 2014 Notes when due.
The City will not participate in the preparation of an official statement or other disclosure documents relating to the offer and sale of the Series 2014 Notes (the “Disclosure Documents”), and will make no independent investigation with respect to the information contained in the Disclosure Documents, including any appendices thereto, and the City assumes no responsibility for the sufficiency, accuracy, or completeness of such information.
In authorizing the issuance of the Series 2014 Notes for the financing of the Project and related costs, the City’s purpose is and the effect thereof will be to promote the public welfare of the City and its residents by providing a multifamily housing development for low and moderate income residents of the City and otherwise furthering the purposes and policies of the Housing Act.
In the discretion of the Finance Officer, with the approval of the City Attorney and Bond Counsel, a separate loan agreement may be prepared for each of the Series 2014 Notes in order to more conveniently and expeditiously provide for the separate security and sources of payment for each of the Series 2014 Notes.
For the purposes set forth above, there is hereby authorized the issuance, sale, and delivery of the Series 2014 Notes in the maximum aggregate principal amount not to exceed $5,600,000.
The Series 2014 Notes shall be special, limited obligations of the City payable solely from the revenues, assets, and other security provided by the Borrower and related parties pursuant to the terms of the Loan Agreement and other documents delivered by the Borrower and related parties to secure the timely payment of the principal of and interest on the Series 2014 Notes.
By the terms of the Loan Agreement, the Borrower has agreed that the Borrower shall indemnify the City against all liabilities, losses, damages, costs, and expenses (including attorney’s fees and expenses incurred by the City) arising with respect to the Project or the Series 2014 Notes, as provided for and agreed to by and between the Borrower and the City in the Loan Agreement.
There is hereby created and established a series of Fixed Rate Refunding Notes designated "Promissory Notes, Fixed Rate Refunding Series due 2014" (hereinafter sometimes called the "Series 2014 Notes" or the "Refunding Notes").