My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
No. 0958 a final bond resolution of the SBRC authorizing the issuance of the COSB redevelopment district tax increment revenue bonds of 1990 for purpose of raising money for property acquisition/redevelopment in the AEDA allocation area No. 1
sbend
>
Public
>
Redevelopment Commission
>
Resolutions
>
No. 0958 a final bond resolution of the SBRC authorizing the issuance of the COSB redevelopment district tax increment revenue bonds of 1990 for purpose of raising money for property acquisition/redevelopment in the AEDA allocation area No. 1
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/18/2012 3:08:30 PM
Creation date
1/12/2012 12:17:37 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
32
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
Section 103(a) of the Code, as in effect on the date of <br />delivery of the Bonds, nor will the Commission act in any <br />manner which would adversely affect such exclusion. The <br />Commission further covenants that it will not make any <br />investment or do any other act or thing during the period that <br />any Bond is outstanding hereunder which would cause any Bond <br />to be an "arbitrage bond" within the meaning of Section 148 <br />of the Code and the regulations applicable thereto as in <br />effect on the date of delivery of the Bonds. The Commission <br />shall comply with the arbitrage rebate requirements under <br />Section 148 of the Code to the extent applicable; and <br />(d) All officers, members, employees and agents of the <br />Commission, the Department and the City are authorized and <br />directed to provide certifications of facts and estimates that <br />are material to the reasonable expectations of the Commission <br />as of the date the Bonds are issued and to enter into <br />covenants on behalf of the Commission evidencing the <br />Commission's commitments made herein. In particular, all or <br />any officers, members, employees and agents of the Commission, <br />the Department and the City are authorized to certify and /or <br />enter into covenants for the Redevelopment District regarding <br />the facts and circumstances and reasonable expectations of the <br />Commission on the date the Bonds are issued and the <br />commitments made by the Commission herein regarding the amount <br />and use of the proceeds of the Bonds. <br />14. Notwithstanding any other provisions of this <br />Resolution, the covenants and authorizations contained in this <br />Resolution (the "Tax Sections ") which are designed to preserve the <br />exclusion of interest on the Bonds from gross income under federal <br />law (the "Tax Exemption ") need not be complied with if the <br />Redevelopment District receives an opinion of bond counsel that any <br />Tax Section is unnecessary to preserve the Tax Exemption. <br />15. If, when the Bonds or a portion thereof shall have <br />become due and payable in accordance with their terms or shall have <br />been duly called for redemption or irrevocable instructions to call <br />the Bonds or a portion thereof for redemption shall have been <br />given, and the whole amount of the principal of and interest so due <br />and payable upon all of the Bonds or a portion thereof then <br />outstanding shall be paid or (i) sufficient monies, or (ii) direct <br />obligations of, or obligations the principal of and interest on <br />which are unconditionally guaranteed by, the United States of <br />America, the principal of and the interest on which when due will <br />provide sufficient monies for such purpose, or (iii) time <br />certificates of deposit fully secured as to both principal and <br />interest by obligations of the kind described in (ii) above of a <br />bank or banks the principal of and interest on which when due will <br />provide sufficient monies for such purpose, shall be held in trust <br />for such purpose, and provision shall also have been made for <br />-25- <br />\rlhill \sthbnd \airport \general \finalbd;lh;August 31, 1990 <br />
The URL can be used to link to this page
Your browser does not support the video tag.