My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1988-06-17 Resolution 8
sbend
>
Public
>
Redevelopment Authority
>
Resolutions
>
1988-1989
>
1988
>
1988-06-17 Resolution 8
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/17/2008 11:50:07 AM
Creation date
7/17/2008 11:50:05 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
127
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
and/or Operation and Reserve Fund to pay the principal, <br />• redemption premiums and interest to the next interest payment <br />date on all outstanding Bonds, it will call all outstanding Bonds <br />for redemption and hereby consents and directs the Trustee to <br />call all outstanding Bonds for redemption. <br />ARTICLE VI. <br />Insurance <br />Sec. 6.01. The Authority covenants that it will carry <br />or cause to be carried: <br />(a) Insurance on the Facility against physical <br />loss or damage thereto, however caused, with such <br />exceptions as are ordinarily required by insurers of <br />buildings or facilities of a similar type, which <br />insurance shall be in an amount equal to one hundred <br />percent (100) of the full replacement cost of the <br />Facility as certified by a registered architect, a <br />registered engineer, or a professional appraisal <br />engineer selected by the Authority with the approval of <br />the Trustee, on the effective date of such insurance <br />and on or before April 1 of each year thereafter ,(such <br />appraisal may be based on a recognized index of <br />conversion factors); and <br />(b) Rent or rental value insurance in an amount <br />equal to the full rental value of the Facility for a <br />period of two (2) years against physical loss or damage <br />of the type insured against under Sec. 6.01(a) above. <br />Sec. 6.02. Such insurance policies shall be maintained <br />in good and responsible insurance companies satisfactory to the <br />Trustee, and shall be countersigned by an agent of the insurer <br />who is a resident of the State of Indiana. A copy of such <br />policies, together with a certificate of the Insurance <br />Commissioner certifying that the persons countersigning such <br />policies are. duly. qualified in the State of Indiana as resident <br />agents of the insurers on whose behalf they have signed, and the <br />architect's or engineer's certificates referred to in <br />Sec. 6.01(a) shall be deposited with the Trustee. Such schedule <br />shall contain the names of the insurers, the amounts of each <br />policy, the character of the risk insured against, the expiration <br />date of each policy, the premium paid thereon, and any other <br />pertinent data. <br />Sec. 6.03. Tn case the Authority shall at any time <br />refuse, neglect or fail to obtain and furnish such certificate or <br />to effect insurance as aforesaid, the Trustee-may, in its <br />discretion, procure such certificate and/or such insurance, and <br />all moneys paid by the Trustee for such certificate and/or <br />insurance, together with interest thereon at the highest rate of <br />• interest on any of the Bonds when sold, whether 'or not then <br />outstanding, shall be repaid by the Authority upon demand, and <br />-19- <br />
The URL can be used to link to this page
Your browser does not support the video tag.