Agenda - Council - 07/12/2022 - Laserfiche WebLink

Home

ARTICLE III ISSUANCE OF THE BONDS Section 3.1 Agreement to Issue the Series 2022 Bonds; Application of the Series 2022 Bond Proceeds. In order to provide money to finance the 2022 Project including refinancing the Prior Obligations, funding the Reserve Fund, financing capitalized interest, and paying Issuance Costs, the Issuer, concurrently with the execution of this Loan Agreement, shall issue, sell, and deliver to the Original Purchaser of the Series 2022 Bonds and the Trustee will deposit or apply the proceeds thereof(net of the Underwriter's discount) in the amount of$ , as follows: (a) to the Tax-Exempt Account of the Reserve Fund, an amount equal to $ from the proceeds of the Series 2022A Bonds; (b) to the Taxable Account of the Reserve Fund, an amount equal to $ from the proceeds of the Series 2022B Bonds; (c) to the Costs of Issuance Fund, (i) an amount equal to $ from the proceeds of the Series 2022A Bonds, and(ii)an amount equal to $ from the proceeds of the Series 2022B Bonds; (d) to the 2022 Project Fund, (i) an amount equal to $ from the proceeds of the Series 2022A Bonds, and (ii) an amount equal to $ from the proceeds of the Series 2022B Bonds; (e) to the Capitalized Interest Subaccount of the Bond Fund, (i) an amount equal to $ from the proceeds of the Series 2022A Bonds, and(ii) an amount equal to $ from the proceeds of the Series 2022B Bonds; and (f) to the Refunding Fund, an amount equal to $ from the proceeds of the Series 2022A Bonds. Section 3.2 Investment of Funds. Any money held as a part of the funds and accounts established and maintained under the terms of the Indenture (the "Funds") shall be invested or reinvested in any Permitted Investment by the Trustee, to the extent permitted by law, except that investments shall be made only at the request of and as directed in writing by the Company Representative so long as no Event of Default shall have occurred and be continuing. The Trustee may conclusively rely upon the written investment direction of the Company Representative, the Company, or the Rebate Analyst, as appropriate, as to both the suitability and legality of the directed investments and such written direction shall be deemed to be a certification that such directed investments constitute Permitted Investments and comply with the provisions of the Indenture, this Loan Agreement, and the Tax Certificate. All such Permitted Investments shall at all times be a part of the Fund from which the money used to acquire such Permitted Investments shall have come, and all income and profits on such Permitted Investments shall be credited as provided in the Indenture. Such Permitted Investments shall be made so as to mature or be subject to redemption at the option of the holder thereof on or prior to the date or dates that the Company 7 730911770