My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
06-23-08 Council Meeting Agenda & Packet
sbend
>
Public
>
Common Council
>
Common Council Agenda Packets
>
2008
>
06-23-08 Council Meeting Agenda & Packet
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/12/2012 10:52:02 AM
Creation date
6/19/2008 3:11:40 PM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
6/23/2008
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
134
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
Thereafter such rentals shall be payable in advance in semiannual installments of $554,500.00 on <br />April 15 and October 15 of each year. <br />The last semiannual rental payment due before the expiration of this Second <br />Addendum to Lease shall be adjusted to provide for rental at the amount specified above for the <br />applicable semiannual period prorated from the date such installment is due to the date of the <br />expiration of this Second Addendum to Lease (without taking into account any subsequent early <br />termination of this Second Addendum to Lease pursuant to Section 2 hereof). <br />After the sale of the 2008 Bonds issued by the Authority to pay the cost of the <br />2008 Project and other expenses incidental thereto, the sum of the first and second semiannual <br />rental installments and the sum of the third and fourth semiannual rental installments, and so on, <br />shall be reduced to an amount equal to the multiple of One Thousand Dollars ($1,000.00) next <br />highest to the highest sum of principal and interest due in any year ending on a Bond maturity <br />date on such 2008 Bonds plus Three Thousand Dollars ($3,000), payable in equal semiannual <br />installments, assuming for such purposes that the semiannual rental installment payable <br />following completion of the 2008 Project is due on April 15, 2009. Such amount of reduced <br />annual rental shall be endorsed on this Second Addendum to Lease at the end hereof by the <br />parties. hereto as soon as the same can be done after the sale of said 2008 Bonds, and such <br />endorsement shall be recorded as an addendum to the Lease. <br />The Lessee will not take any action or fail to take any action that would result in <br />the loss of the exclusion from gross income for federal tax purposes of interest on the 2008 <br />Bonds pursuant to Section 103(a) of the Internal Revenue Code of 1986, as amended (the <br />"Code "), as in effect on the date of delivery of the 2008 Bonds, nor will the Lessee act in any <br />manner which would adversely affect such exclusion. The Lessee further covenants that it will <br />not make any investment or do any other act or thing during the period that any Bond is <br />outstanding hereunder which would cause any Bond to be an "arbitrage bond" within the <br />meaning of Section 148 of the Code and the regulations thereunder as in effect on the date of <br />delivery of the 2008 Bonds. All.officers, members, employees and agents of the Lessee are <br />authorized and directed to provide certifications of facts and estimates that are material to the <br />reasonable expectations of the Lessee as of the date the 2008 Bonds are issued and to enter into <br />covenants on behalf of the Lessee evidencing the Lessee's commitments made herein. <br />Section 5. Abatement of Rent. In the event that all or a portion of the 2008 <br />Project shall be damaged or destroyed so as to render the damaged or destroyed portion of the <br />2008 Project unfit for its intended use, it shall then be the obligation of the Authority to restore <br />and reconstruct the damaged or destroyed portion of the 2008 Project as promptly as may be <br />done, unavoidable strikes and other causes beyond the control of the Authority excepted, if, in <br />the opinion of an independent registered architect, registered engineer, construction manager or <br />contractor selected by the Lessee and acceptable to the Trustee, (i) the cost of such restoration or <br />reconstruction does not exceed the amount of the proceeds received by the Authority from the <br />insurance provided for in Section 9 hereof plus other moneys available therefor and (ii) such <br />restoration or reconstruction can be completed within the period of time covered by the rental <br />value insurance provided for in Section 9 hereof. If either or both conditions shall not exist, the <br />proceeds received from the insurance provided for in Section 9 hereof shall be applied to the <br />option to purchase price provided for in Section 14 hereof. The rental shall be abated pro rata for <br />BDD1301 52330442 -3 <br />
The URL can be used to link to this page
Your browser does not support the video tag.