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

Home

Section 4.10 Disbursements from the Costs of Issuance Fund. The Issuer has, in the Indenture, authorized and directed the Trustee to make payments from the Costs of Issuance Fund for the payment of Issuance Costs as provided in this Section. Payments shall be made from the Costs of Issuance Fund only for paying the Issuance Costs including the costs of the title policies, legal, accounting, organization, Rating Agency fees, Trustee fees, marketing or other special services and other fees and expenses incurred or to be incurred by or on behalf of the Issuer or the Company in connection with the issuance of a series of Bonds. Each payment out of the Costs of Issuance Fund shall be made only upon receipt by the Trustee of invoices along with a request for payment signed by the Company Representative. The Trustee may conclusively rely and be protected in acting upon any written request signed by the Company Representative in making a disbursement hereunder and shall have no obligation to examine any accompanying invoices. On , 2023, the Trustee shall transfer proceeds of the Series 2022 Bonds remaining in the Costs of Issuance Fund to the 2022 Project Fund or, in the event the Completion Date has occurred and amounts in the 2022 Project Fund have been transferred to the Bond Fund,any money remaining in the Costs of Issuance Fund shall be transferred to the Bond Fund and applied to the same purposes as the amounts transferred from the 2022 Project Fund. Section 4.11 Disbursements from Trustee Held Funds Under the Indenture. (a) Disbursements from the 2022 Project Fund. So long as no Event of Default shall have occurred and be continuing, money in the 2022 Project Fund shall be disbursed by the Trustee to pay for the Project Costs with respect to the 2022 Project in accordance with Section 5.6 of this Loan Agreement. (b) Disbursements from the Capital Repair and Replacement Fund. So long as no Event of Default shall have occurred and be continuing, money in the Capital Repair and Replacement Fund shall be disbursed by the Trustee to pay for such capital improvements or repair to the School Facilities as set forth in the Indenture upon receipt by the Trustee of a Company Request substantially in the form attached as EXHIBIT D to the Indenture. For purposes of complying with the requirements of this Section,the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon the Company Request, which may be submitted by Electronic Means (as defined in Section 9.1(t) of the Indenture), in written form, or in facsimile form, and shall not be bound to make any investigation into the facts or matters stated in such Company Request. The Trustee shall not be responsible for determining whether the money credited to the Capital Repair and Replacement Fund is sufficient for such capital improvements or repairs or purchase. The Trustee shall not be responsible to collect lien waivers prior to making any disbursement from the Capital Repair and Replacement Fund. (c) Disbursements from the Expense Fund. Money in the Expense Fund shall be disbursed by the Trustee to pay the costs as set forth in the Indenture upon receipt by the Trustee of a Company Request substantially in the form attached to the Indenture as EXHIBIT E. For purposes of complying with the requirements of this Section,the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon the Company Request, which may be submitted in Electronic Means (as defined in Section 9.1(t) of the Indenture), and shall not be bound to make any investigation into the facts or 16 730911770