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Regarding Issurance of economic development revenue refunding bonds Regency Place Project
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Regarding Issurance of economic development revenue refunding bonds Regency Place Project
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Last modified
5/13/2013 1:13:30 PM
Creation date
10/11/2012 11:14:15 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/9/1992
Ord-Res Number
8314-92
Bill Number
87-92
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(e) Whether or not therein expressly so provided, every provision of this Indenture <br /> relating to the conduct or affecting the liability of or affording protection to the Trustee shall be <br /> subject to the provisions of this Section. <br /> (f) The Trustee shall not be required to furnish any bond or surety for the <br /> performance of its obligations hereunder. <br /> Section 702. Notice of Default. Within 90 days after the Trustee is deemed to have <br /> notice under Section 703(j) of any default hereunder, the Trustee shall transmit by registered or <br /> certified mail, to the holders of all Bonds then Outstanding, notice of such default hereunder <br /> known to the Trustee, unless such default shall have been cured or waived; provided, however, <br /> that, except in the case of a default in the payment of the principal of (or premium, if any) or <br /> interest on any Bond when due, the Trustee shall be protected in withholding such notice if and <br /> so long as the Trustee in good faith determines that the withholding of such notice is in the <br /> interests of the holders of the Bonds. For the purpose of this Section, the term "default" means <br /> any event that is, or after notice or lapse of time or both would become, an event of default. <br /> Section 703. Certain Rights of Trustee. Except as otherwise provided in Section 1001: <br /> (a) the Trustee may rely and shall be protected in acting or refraining from <br /> acting upon any resolution, certificate, statement, instrument, opinion, report, notice, <br /> request, direction, consent, order or other paper or document believed by it to be genuine <br /> and to have been signed or presented by the proper party or parties; <br /> (b) any request or order of the Issuer shall be sufficiently evidenced by a <br /> request or an order signed by an authorized representative of the Issuer and any <br /> resolution of the Issuer may be sufficiently evidenced by a certificate of the President of <br /> the Board of Trustees of the Issuer; <br /> (c) any notice, request, direction, election, order or demand of the Developer <br /> mentioned herein shall be sufficiently evidenced by an instrument purporting to be signed <br /> in the name of the Developer by any general partner of the Developer (unless other <br /> evidence in respect thereof be herein specifically prescribed); <br /> (d) whenever in the administration of this Indenture the Trustee shall deem it <br /> desirable that a matter be proved or established prior to taking, suffering or omitting any <br /> action hereunder, the Trustee (unless other evidence be herein specifically prescribed) <br /> may, in the absence of bad faith on its part, rely upon a certificate signed by an <br /> authorized representative of the Issuer; <br /> (e) the Trustee may consult with counsel, architects and engineers and other <br /> experts, and the written advice of such counsel, architects or engineers and other experts <br /> 2975.1 45 <br />
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