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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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Last modified
12/3/2009 11:51:05 AM
Creation date
8/20/2009 12:22:25 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/10/2009
Ord-Res Number
9951-09
Bill Number
56-09
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(f) The Participant has not at any time failed to pay when due interest or principal <br />on, and it is not now in default under, any warrant or other evidence of obligation or <br />indebtedness of the Participant. <br />(g) All information furnished by the Participant to the Finance Authority or any <br />of the persons representing the Finance Authority in connection with the Loan or the <br />Project is accurate and complete in all material respects including compliance with the <br />obligations, requirements and undertakings imposed upon the Participant pursuant to this <br />Agreement. <br />(h) The Participant has taken or will take all proceedings required by law to <br />enable it to issue and sell the Bonds as contemplated by this Agreement. <br />(i) For any outstanding bonds payable from the revenues of the Treatment Works <br />which are on a parity with the Bonds, each Credit Provider, if any, that has provided a <br />Credit Instrument is at least rated on a long term basis "A-/A3" long term by Standard & <br />Poor's Ratings Services, a Division of the McGraw-Hill Companies and Moody's <br />Investors Service, Inc., and their successors, except as represented and set forth in Exhibit <br />C attached thereto (and with respect to which true, accurate and complete copies of each <br />such Credit Instrument have been delivered to the Finance Authority). <br />Each of the foregoing representations and warranties will be deemed to have been made <br />by the Participant as of the date of this Agreement and as of the date of any disbursement of <br />Loan proceeds (including from the Construction Fund). Each of the foregoing representations <br />and warranties shall survive the Loan disbursements regardless of any investigation or <br />investigations the Finance Authority may have undertaken. <br />Section 3.04. Covenants Regarding Assignment. The Participant acknowledges that <br />the Finance Authority may pledge, sell or assign the Bonds or cause the Bonds to be pledged, <br />sold or assigned, and certain of its rights related thereto, as permitted pursuant to Section 5.02 <br />herein. The Participant covenants and agrees to cooperate with and assist in, at its expense, any <br />such assignment. Within 30 days following a request by the Finance Authority, the Participant <br />covenants and agrees with the Finance Authority that the Participant will, at its expense, furnish <br />any information, financial or otherwise, with respect to the Participant, this Agreement, the <br />Authorizing Instrument and the Bonds and the Treatment Works as the Finance Authority <br />reasonably requests in writing to facilitate the sale or assignment of the Bonds. <br />Section 3.05. Nature of Information. All information furnished by the Participant to <br />the Finance Authority or any person representing the Finance Authority in connection with the <br />Loan or the Project may be furnished to any other person the Finance Authority, in its judgment, <br />deems necessary or desirable in its operation and administration of the Wastewater SRF <br />Program. <br />Section 3.06. Tax Covenants. The Participant hereby covenants that it will not take, or <br />cause or permit to be taken by it or by any party under its control, or fail to take or cause to <br />B-20 <br />BDDBOI 5738468v1 <br />
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