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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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same day as it is sent by facsimile transmission with telephonic confirmation of receipt by the <br />person to whom it is sent. <br />Section 5.09. Expenses. The Qualified Entity covenants and agrees to pay (a) the <br />fees, costs and expenses in connection with making the Loan, including issuing the Bonds and <br />providing the necessary certificates, documents and opinions required to be delivered <br />therewith; (b) the fees, costs and expenses in connection with making and administering the <br />Loan; (c) the costs and expenses of complying with its covenants made herein; and (d) any and <br />all costs and expenses, including attorneys' fees, incurred by the State in connection with the <br />enforcement of this Agreement, the Authorizing Instrument and the Bonds in the event of the <br />breach by the Qualified Entity of or a default under this Agreement, the Authorizing <br />Instrument or the Bonds. Notwithstanding clause (b) above, the Qualified Entity shall not be <br />obligated to pay any of the fees, costs and expenses in connection with administering the Loan <br />except as follows: (1) the State may request and the Qualified Entity shall promptly pay, an <br />annual administrative fee in connection with the Loan in an amount determined by the State, <br />but not exceeding $1,000; (2) for so long as the State or the Bond Bank is the registered owner <br />of the Bonds, at the direction of the State, the interest rate on the Bonds may be adjusted to <br />lower the interest rate on the Bonds, and the difference between the amount payable as the <br />original rate on the Bonds and the lower rate shall be deemed an additional administrative fee <br />in connection with the Drinking Water SRF Program; and (3) the Qualified Entity shall only be <br />obligated to pay fees, costs and expenses of the State's counsel and financial advisers in <br />connection with making the Loan up to $5,000. <br />Section 5.10. Applicable Law. This Agreement shall be construed in accordance with <br />and governed by the laws of the State of Indiana. <br />Section 5.11. Term. This Agreement shall terminate at such time as the Qualified <br />Entity has fully met and discharged all of its obligations hereunder, which term may extend <br />beyond the final payment of the Bonds or provision for the payment of the Bonds pursuant to <br />the Authorizing Instrument. <br />(End of Article V) <br />430848 1$ <br />
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