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No. 1082 approving the eecution of an addendum to the lease dated 6/1/88 between the SBRC and the SBRA for certain land and a parking facility located thereon
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No. 1082 approving the eecution of an addendum to the lease dated 6/1/88 between the SBRC and the SBRA for certain land and a parking facility located thereon
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2. Section 4 of the Lease is amended to read as <br />follows: <br />Section 4. Rental Payment Dates. The first semiannual <br />rental installment in the amount of Two Hundred Twenty -Eight <br />Thousand Five Hundred Dollars ($228,500) shall be due on December <br />28, 1992. Thereafter such rentals shall be payable in advance in <br />semiannual installments on June 28 and December 28 of each year as <br />provided for in the lease payment schedule attached hereto as <br />Exhibit C. <br />The Lessee will not take any action or fail to take any <br />action that would result in the loss of the exclusion from gross <br />income for federal tax purposes of interest on the Bonds pursuant <br />to Section 103(a) of the Internal Revenue Code of 1986, as amended <br />(the "Code "), as in effect on the date of delivery of the Bonds, <br />nor will the Lessee act in any manner which would adversely affect <br />such exclusion. The Lessee further covenants that it will not make <br />any investment or do any other act or thing during the period that <br />any Bond is outstanding hereunder which would cause any Bond to be <br />an "arbitrage bond" within the meaning of Section 148 of the Code <br />and the regulations thereunder as in effect on the date of delivery <br />of the Bonds. All officers, members, employees and agents of the <br />Lessee are authorized and directed to provide certifications of <br />facts and estimates that are material to the reasonable <br />expectations of the Lessee as of the date the Bonds are issued and <br />to enter into covenants on behalf of the Lessee evidencing the <br />Lessee's commitments made herein. <br />Exhibit C: <br />3. The lease is amended to include the following as <br />EXHIBIT C <br />LEASE PAYMENT SCHEDULE FOR <br />PARKING FACILITY LEASE <br />Payment Date <br />i <br />Amount <br />12/28/92 <br />$228,500 <br />i 06/28/93 <br />214,500 <br />3 12/28/93 <br />214,500 <br />06/28/94 <br />2151500 <br />12/28/94 <br />215,500 <br />p 06/28/95 <br />213,000 <br />12/28/95 <br />213,000 <br />06/28/96 <br />163,000 <br />12/28/96 <br />163,000 <br />06/28/97 <br />217,500 <br />12/28/97 <br />217,500 <br />06/28/98 <br />218,500 <br />12/28/98 <br />218,500 <br />-2- <br />
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