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

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prepayment or in exchange for replacement Bonds if then available. Otherwise, the Depository or its nominee, as Registered Owner, may surrender the Bond to the Trustee and the Issuer shall execute (if necessary) and the Trustee shall authenticate and deliver to the Depository or its nominee, as Registered Owner of such Bond, a new Bond having the same stated maturity and interest rate and of the authorized denomination in aggregate principal amount equal to the unredeemed portion of the principal of the Bond so surrendered. SECTION 2.12. Additional Bonds. The Issuer or another municipality authorized by the Act (the "Alternate Issuer"), at the request of the Company, is authorized to issue Additional Bonds secured and payable on a parity basis with the Bonds provided that,prior to the issuance of any such Additional Bonds, the following terms and conditions have been met: (a) the Trustee has received a copy, duly certified on behalf of the Issuer or the Alternate Issuer, of the resolution adopted by the Issuer or the Alternate Issuer authorizing the issuance of such Additional Bonds and the execution and delivery of: (i) a supplemental indenture, supplementing and amending this Indenture, which supplemental indenture shall not require the approval of any Registered Owner of the Bonds, providing the date, interest rates and maturities of such Additional Bonds, options and requirements for redemption prior to maturity with respect to such Additional Bonds,deposit of proceeds to the various funds and accounts, and such other terms as may be required by reason of the foregoing and which adopts the applicable provisions of this Indenture; (ii) an amendment supplementing and amending the Loan Agreement; (iii) an amendment supplementing and amending the Mortgage; and (iv) an amendment to the Lease and each Issuer Document, Security Document, Company Document, or School Document as applicable or a new lease pursuant to which the Charter School is obligated to make additional Lease Payments sufficient to pay the principal and interest due with respect to such Additional Bonds and any related costs or expenses; and(v) such other documents as are necessary or appropriate in connection with the issuance, sale, and delivery of such Additional Bonds; (b) the Trustee has either(i)received(A) an opinion, report, or certificate of an Independent Accountant or Independent Consultant (such as the Charter School's Independent third party business manager) selected by the Charter School to the effect that the Charter School's Net Income Available for Debt Service for the Fiscal Year immediately preceding the date on which such Additional Bonds are to be issued for which audited financial statements are available, totals at least 120% of maximum Principal and Interest Requirements on existing Long-Term Indebtedness of the Charter School (excluding such requirements for the proposed Additional Bonds but including such requirements for any Indebtedness of the Charter School to be refinanced thereby)payable in any Fiscal Year, and (B) a certificate of the Charter School Representative, verified by an Independent Accountant or Independent Consultant (such as the Charter School's Independent third party business manager) selected by the Company, to the effect that Net Income Available for Debt Service for the next Fiscal Year beginning after the Fiscal Year in which any improvements being financed by such proposed Additional Bonds are to be placed in service, or, if no improvements are to be financed thereby, beginning with the first Fiscal Year after the Fiscal Year in which the proposed Additional Bonds are to be issued,will be at least 125%of the maximum Principal and Interest Requirements on Long- 29 735810810