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60-18 Bond Financing for the Community Center Project
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60-18 Bond Financing for the Community Center Project
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Last modified
11/7/2018 2:09:11 PM
Creation date
11/20/2018 8:47:21 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/12/2018
Bill Number
60-18
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affecting creditors' rights generally and subject to the valid exercise of the constitutional powers <br /> of the Issuer,the State of Indiana and the United States of America. <br /> Section 6.3 Instruments of Further Assurance. The Issuer covenants that it will do, <br /> execute, acknowledge and deliver or cause to be done, executed, acknowledged and delivered, <br /> such indentures supplemental hereto and such further acts, instruments and transfers as the <br /> Trustee may reasonably require for the better assuring, transferring, mortgaging, conveying, <br /> pledging, assigning and confirming unto the Trustee, the Trust Estate pledged hereby to the <br /> payment of the principal of and interest on the Bonds. <br /> Section 6.4 Filing of Indenture and Security Instruments. The Issuer shall cause this <br /> Indenture and all supplements thereto as well as such other security instruments, financing <br /> statements and all supplements thereto and other instruments as may be required from time to <br /> time to be filed in such manner and in such places as may be required by law in order to fully <br /> preserve and protect the lien hereof and the security of the holders and owners of the Bonds and <br /> the rights of the Trustee hereunder. This section shall impose no duty to record or file the <br /> instruments noted above where filing or recordation is not required by law in order to perfect a <br /> security interest. Continuation of financing statements may be filed without consent of the <br /> debtor parties thereto. <br /> Section 6.5 List of Bondholders. The Trustee will keep on file at the principal office <br /> of the Trustee a list of names and addresses of the holders of all Bonds. At reasonable times and <br /> under reasonable regulations established by the Trustee, said list may be inspected and copied by <br /> the holders and/or owners (or a designated representative thereof) of 25% or more in principal <br /> amount of Bonds then outstanding, such ownership and the authority of any such designated <br /> representative to be evidenced to the satisfaction of the Trustee. <br /> Section 6.6 Investment of Funds. All moneys held by the Trustee in any Fund <br /> established by this Indenture shall, at the written direction of the Issuer, be invested in Qualified <br /> Investments to the extent permitted by law. For so long as the Trustee is in compliance with the <br /> provisions of this section, the Trustee shall not be liable for any investment losses. All such <br /> investments shall at all times be a part of the fund or account in which the moneys used to <br /> acquire such investments had been deposited, and all income derived from the investment of <br /> moneys on deposit in such fund shall be deposited in or credited to and any loss resulting from <br /> such investment will be charged to the corresponding Fund from which such investment was <br /> made. Investments of moneys in the respective funds or accounts must be made so as to assure <br /> preservation of principal. Moneys in any fund or account shall be invested in Qualified <br /> Investments with a maturity date, or a redemption date determined by the Issuer at the Issuer's <br /> option, which shall coincide as nearly as practicable with times at which moneys in such funds or <br /> accounts will be required for the purposes thereof. The Trustee shall sell and reduce to cash a <br /> sufficient amount of such investments in the respective fund or account whenever the cash <br /> balance therein is insufficient to pay the amounts contemplated to be paid therefrom at the time <br /> those amounts are to be paid. The Trustee is hereby authorized to trade with itself in the <br /> purchase and sale of securities for investments. Neither the Trustee nor the Issuer shall be liable <br /> or responsible for any loss resulting from any investment. All such investments shall be held by <br /> or under the control of the Trustee or the Issuer, as applicable, and any income resulting <br /> therefrom shall be applied in the manner specified in this Indenture. The Public Library is not <br /> authorized or entitled to direct, or obligated to make, investments of Bond proceeds or any other <br /> 28 <br />
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