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1993-02-05 Resolution 70
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1993-02-05 Resolution 70
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7/23/2008 2:33:54 PM
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~~ <br />liquidating the Authority if it is to be <br />liquidated. The Lessee shall pay to the Trustee <br />that portion of the purchase price which is <br />required to provide for the payment of all <br />Tax-Exempt Bonds, including all premiums payable <br />on the redemption thereof, accrued and unpaid <br />interest thereon and costs of redemption thereof. <br />Such payment shall not be made until the Trustee <br />gives the Lessee a written statement that such <br />amount will be sufficient to retire all Tax-Exempt <br />Bonds including all premiums payable on the <br />redemption thereof and. accrued and unpaid <br />interest. The remainder of such purchase price, <br />if any, shall be paid by the Lessee to the <br />Authority. If=the Lessee determines to purchase a <br />part of the Taxable Project, the purchase price <br />shall be equal to the amount determined by the <br />Authority to be required to redeem a corresponding <br />amount of the outstanding Taxable Bonds, including <br />all premiums payable on the redemption thereof, <br />accrued and unpaid interest thereon and the costs <br />of redemption thereof. The Lessee shall pay to <br />the Trustee that portion of the purchase price <br />which is required to provide for the payment of <br />the amount of the Taxable Bonds identifying by the <br />Authority including all premiums payable on the <br />redemption thereof, accrued and unpaid interest <br />thereon and the costs of redemption thereof. Such <br />payment shall not be made until the Trustee gives <br />to the Lessee a written statement that such amount <br />shall be sufficient to retire the amount of <br />Taxable Bonds identified by the Authority <br />including all premiums on the redemption thereof <br />and accrued and unpaid interest. The remainder of <br />the purchase price, if any, shall be paid by the <br />Lessee to the Authority. <br />Upon request to the Lessee, the Authority <br />agrees to furnish an itemized statement setting <br />forth the amounts required to be paid by the <br />Lessee on the next rental payment date in order to <br />purchase the Tax-Exempt Project and/or all or a <br />part of the Taxable Project in accordance with the <br />preceding paragraphs. Nothing herein contained <br />shall be construed to provide that the Lessee <br />shall be under any obligation to purchase the <br />Projects, or under any obligation in respect to <br />any creditors or bondholders of the Authority. <br />If the Lessee has not exercised its option to <br />purchase the Tax-Exempt. Project or has not <br />exercised its option to purchase all. or part of <br />the Taxable Project, at the expiration of the term <br />of the Lease and upon the full discharge and <br />performance by the Lessee of its obligations under <br />-3- <br />
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