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Approving Revenue Bonds Ridgedale Nursing Home
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Approving Revenue Bonds Ridgedale Nursing Home
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Last modified
11/22/2013 3:23:45 PM
Creation date
11/20/2013 9:25:57 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/17/1973
Ord-Res Number
5623-73
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H- Except ns herein otherwise. specifically provided, any money receiveci <br />by or deposited with the Trustee_ under any of the provisions of this Indenture, <br />or otherwise, shall be treated by it until it is required to Pay out the same <br />conformably herewith, as a general deposit, without . any liability for i.n terest, <br />save as may be agreed upon in writing by the City and the Co:2tission and the <br />Trustee. <br />L. The Trustee till not be required to give or enter into any bond <br />or other security i ^ 'respect to the execution of the said Trust and powers or <br />otherwise, in respect of the premises. <br />J. The Trustee is under no duty, obligation, or responsibility to <br />see to the payment of any taxes, assessments, duties, or other charges which <br />may at any time be levied or assessed against or imposed upon the City and /or <br />the Commission. The Trustee is tinder no duty, obligation, or responsibility <br />to see to the insurance of any property of the City and /or Commission or itself <br />to effect or maintain any such insurance, or to receive any policies of insurance <br />or proceeds thereof, or make any investigation or inquiry as to the insurer <br />with which the City and /or Commission shall have insured any of its property, <br />or as to the terms or amounts of any such insurance except as specifically required <br />by this Indenture or by the Lease. <br />K. The Trustee is under no duty, obligation, or responsibility in <br />respect to the use or disposition by the Commission of any of the Bonds or in <br />respect to the application of any part of the proceeds thereof, except as provided <br />in this Indenture. <br />Section 8.2: The Trustee may at any time resign from the Trust hereby created <br />by giving thirty (30) days written notice to the City and the Commission and <br />to all registered owners of the Bonds, or at such shorter period of time as <br />the mayor of the City and the members of the Commission may accept, and such <br />resignation shall tale effect at the end of the shorter of said periods of time. <br />Such notica mad. be served personally or sent by re i.atered mail. Should the <br />Trustee consoli..ate. or !I orse with or transfer substantially all Of its corporate <br />, or Whor I :ilia'7g l ^.Sti.tni L0:1, <br />such O:,-( _cn or Eerier, or trLnsfer, cl•l 7 in nouLse aflect the l'ir;hCs <br />of UP p,rKes 40;0!", .r the h"1 _! of anv OF the Mods, and such ... cc _nd '. <br />"Mr: :On h'A to tL.c in tvQ WYe"ndjr, .,'ii!: LO. sarc i..,.,- -, ,?rul YUK L1•,. <br />- 18 - <br />r <br />
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