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Amend & Restating Ordinance #9027-99 Concerning Construction of Improvements to Wworks, amount not to exceed $2,6000,000
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Amend & Restating Ordinance #9027-99 Concerning Construction of Improvements to Wworks, amount not to exceed $2,6000,000
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Last modified
5/15/2009 1:50:10 PM
Creation date
11/21/2008 3:58:33 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
2/28/2000
Ord-Res Number
9095-00
Bill Number
23-00
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(c) The form and other terms of the Bonds will be in conformity with the Authorizing <br />Instrument. <br />Section 2.03. Disbursement Conditions. Each of the following shall be a condition <br />precedent to the disbursement of the Loan or any portion thereof: <br />(a) (1) With respect to procurement of professional services related to the <br />Project to be paid from Loan proceeds, the Qualified Entity shall have complied with <br />85 I.A.C. 2-2-26 and 327 I.A.C. 14-10-1. (2) With respect to procurement of all other <br />goods and services related to the Project to be paid from Loan proceeds, the Qualified <br />Entity shall have complied with I.C. 36-1-12. <br />(b) No representation, warranty or covenant of the Qualified Entity contained in <br />this Agreement or in any paper executed and delivered in connection with the <br />transactions contemplated by this Agreement shall be false or inaccurate in any material <br />respect. <br />(c) The Qualified Entity shall undertake and faithfully perform each of its <br />obligations, agreements and covenants contained in this Agreement, the Authorizing <br />Instrument and the Bonds. <br />(d) There shall be available to the State uncommitted funds in an amount <br />sufficient to satisfy the State's obligations hereunder from the proceeds of Bond Bank <br />Bonds in the Purchase Account. <br />(e) The Qualified Entity shall have undertaken all actions necessary to comply <br />with and satisfied the conditions and requirements for a Loan secured with money made <br />available from the Drinking Water SRF Fund as set forth in federal and State statutes, <br />rules and regulations, including I.C. 13-18-21, 85 I.A.C. 2, 327 I.A.C. 14, the Safe <br />Drinking Water Act. <br />Section 2.04. Disbursement Procedures. Loan proceeds shall be disbursed to the <br />Qualified Entiry by the Trustee for actual Eligible Costs incurred with respect to the Project. <br />The State may, in its discretion, cause Loan disbursements to be made (a) directly to the <br />person or entity identified in the Disbursement Request to whom payment is due, or (b) if <br />advised in writing by the Qualified Entity that I.C. 36-1-12-14 or a similar law applies to the <br />Project, to the Qualified Entity for purposes of collecting retainage, or some combination <br />thereof. Any Loan proceeds in excess of the amount subject to retainage controlled by the <br />Qualified Entity will be immediately remitted to the person or entity to whom payment is due, <br />no later than three (3) Business Days after receipt or the date such Loan proceeds are no longer <br />subject to retainage. Loan disbursements shall not be made more frequently than monthly and <br />shall only be made following the submission of a Disbursement Request to the State. <br />Disbursement Requests shall be approved by the Department and the Drinking Water SRF <br />a3osas <br />
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