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No. 3133 continuing funds and accounts in connection with Nov 1, 1993 Lease Century Center 2008 Project
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No. 3133 continuing funds and accounts in connection with Nov 1, 1993 Lease Century Center 2008 Project
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at a maximum interest rate not to exceed five percent (5.0 %). The issuance of the Bonds will <br />provide a savings to the Authority and the Commission. <br />Section 2. The Commission hereby covenants and agrees to keep and <br />maintain those funds and accounts created by the Pledge Resolution, such funds and accounts <br />consisting of a Century Center 2008 Lease Principal and Interest Account (the "Lease Account "), <br />and such other accounts as the Commission may from time to time establish to pay the rentals <br />owed by the Commission pursuant to the Lease as the same may be amended. The Commission <br />will deposit into the Lease Account the Hotel -Motel Tax Revenues received by the Commission <br />from the Board of Managers. The Hotel -Motel Tax Revenues deposited into the Lease Account <br />shall be used solely by the Commission solely for the payment of the rentals due under the <br />Lease. <br />Section 3. Following the sale of the Bonds, the President or Vice - President <br />and Secretary of the Commission are hereby authorized to execute and attest, respectively, an <br />addendum to the Lease to reflect the reduced rental payments due under the Lease and make any <br />other changes necessary to reflect the issuance of the Bonds upon the advice of counsel to the <br />Commission. <br />Section 4. This Resolution shall be in full force and effect after its adoption <br />by the Commission. <br />DMS US 51727276v1 -3 - <br />
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