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1994-05-17 Resolution 91
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1994-05-17 Resolution 91
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(g) A war involving the United States shall have been declared, or any conflict <br />involving the armed forces of the United States shall have commenced or escalated, or any <br />other national emergency relating to the effective operation of government or the financial <br />community shall have occurred which, in the opinion of the Underwriters, materially and <br />adversely affects the market price of the Bonds; <br />(h) An event described in paragraph (o) of Section 5 hereof shall have occurred <br />which, in the opinion of the Underwriters, requires the preparation and publication of a <br />supplement or amendment to the Official Statement; <br />(i) Subsequent to the respective dates as of which information is given in the <br />Official Statement, there shall have occurred any change or any development involving a <br />prospective change in the business or financial condition of the Issuer, the Commission, the <br />Redevelopment. District or the City which, in the judgment of the Underwriters, makes it <br />impracticable or inadvisable to proceed with the offering described in Section 3 hereof; or <br />0) Any rating assigned to the Bonds shall have been downgraded, suspended or <br />withdrawn by Moody's Investors Service or by Standard & Poor's Corporation or there has <br />been an official statement regarding a downgrading, suspension or withdrawal of any such <br />rating and such action, in the opinion of the Underwriters, materially and adversely affects <br />the market price for the Bonds. <br />Section 9. Expenses. The Issuer shall pay, from the proceeds of the sale of the Bonds, all <br />• costs and expenses incident to the delivery of the Bonds to the Underwriters, the fees and expenses <br />of Bond Counsel and counsel to the Underwriters, the costs and expenses incident to the preparing <br />and printing of this Contract, the Preliminary Official Statement, the Official Statement and related <br />documents, and expenses incurred in connection with any securities or blue sky law qualifications <br />and the preparation of a memorandum with respect thereto and for any fees charged by investment <br />rating agencies for the rating of the Bonds, it being understood that, except as provided in this <br />Section 9, the Underwriters will pay all their own costs and expenses including any advertising and <br />mailing connected with any offering of the Bonds by the Underwriters. <br />Section 10. Indemnification. To the extent permitted by law, the Issuer agrees to indemnify <br />and hold harmless the Underwriters and each person, if any, who controls the Underwriters against <br />any and all losses, claims, damages and liabilities (a) arising out of any untrue statement of a <br />material fact contained in the Official Statement, as the same may have been duly supplemented or <br />amended, or the omission therefrom of any material fact required to be stated therein or necessary <br />to make the statements therein, in the light of the circumstances in which they were made, not <br />misleading, except any such statements as were based on information furnished to the Issuer by the <br />Underwriters, and (b) to the extent of the aggregate amount paid in settlement of any litigation <br />commenced or threatened arising from a claim based upon any such untrue statement or omission <br />if such settlement is effected with the written consent of the Issuer. In case any such claim shall be <br />made or action brought against the Underwriters or person controlling the Underwriters based upon <br />the Official Statement, in respect of which indemnity may be sought against the Issuer, the <br />Underwriters shall promptly notify the Issuer in writing setting forth the particulars of such claim <br />or action and the Issuer shall assume the defense thereof including the employment of counsel, <br />• satisfactory to the Underwriters (who shall not, except with the consent of the Underwriters, be <br />counsel for the Issuer), and the payment of all expenses. The Underwriters or any such controlling <br />512 <br />
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