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.
All of the Series 2014 Notes will be retired prior to the date that is 90 days after the Issuance Date.
As a condition to the execution and delivery of the Series 2014 Notes, the Finance Officer may require the receipt from the Lender of an investment letter containing such terms, covenants, representations, and warranties as the Finance Officer, with the advice of the City Attorney and Bond Counsel, shall deem necessary or appropriate.
Except for certain reserved rights, the interests of the City in the Loan Agreement (or the separate loan agreements) will be assigned to the owner or owners of the Series 2014 Notes (individually or collectively, the “Lender”) pursuant to the terms of an Assignment of Loan Agreement, dated on or after July 1, 2014 (the “Assignment”), between the City, the Borrower, and the Lender.
The City hereby approves the execution by the Borrower and delivery to the Lender of: (i) one or more mortgage documents granting mortgage liens on the Project to the Lender; (ii) one or more collateral assignments of the contracts between the Borrower and the architect and contractor with respect to the Project; (iii) one or more environmental indemnity agreements; and (iv) other security documents that are intended to secure timely payment of the Loan and the Series 2014 Notes.
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").
All of the provisions of the Series 2014 Notes, when executed as authorized herein, shall be deemed to be a part of this resolution as fully and to the same extent as if incorporated verbatim herein and shall be in full force and effect from the date of execution and delivery thereof.
The City hereby authorizes the Series 2014 Notes to be issued as “tax-exempt bonds,” the interest on which is not includable in gross income for federal and State of Minnesota income tax purposes (subject to certain limitations described in the opinion of Bond Counsel).
The City hereby authorizes Bond Counsel to prepare, execute, and deliver its approving legal opinions with respect to the Series 2014 Notes.