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

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Term Indebtedness of the Charter School (including such requirements for the proposed Additional Bonds but excluding such requirements for any then outstanding Long-Term Indebtedness of the Charter School or Bonds to be refinanced by the proposed Additional Bonds) for each Fiscal Year beginning with the second Fiscal Year 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, but before the final stated maturity of all then Outstanding Bonds; or (ii) received the prior written consent of the Majority Bondholder(s) to the issuance of such Additional Bonds; (c) the Trustee has received a certificate of the Company Representative to the effect that there is no Event of Default then existing under the Loan Agreement, the Mortgage, the Assignment of Lease, or this Indenture; (d) the Trustee has received a certificate of the Charter School Representative to the effect that no Event of Default has occurred and is continuing under the Account Control Agreement, the Lease, or the Pledge Agreement; (e) the Trustee has received an opinion of Bond Counsel to the effect that the issuance of such Additional Bonds will not cause interest on any Outstanding Tax-Exempt Bonds to become included in gross income for federal income tax purposes; (f) the Trustee has received an opinion from the Counsel to the Company in form and substance acceptable to Bond Counsel and the Underwriter,as original purchaser, the sufficiency of which shall be deemed to be met by the delivery of the opinion of Bond Counsel under subsection (e) above; (g) the Trustee has received executed counterparts of the agreements supplementing and amending the Issuer Documents, the School Documents, and the Security Documents, as applicable; (h) the Trustee has received a request and authorization to the Trustee on behalf of the Issuer or Alternate Issuer and signed by its Issuer Representatives or Alternate Issuer representative to authenticate and deliver such Additional Bonds to the purchasers therein identified, upon payment to the Trustee, but for the account of the Issuer or the Alternate Issuer, of a sum specified in such request and authorization, plus accrued interest thereon, if any, to the date of delivery; and (i) the Trustee has received an executed opinion of Bond Counsel to the effect that (i) the Additional Bonds have been duly authorized, executed, and delivered, and constitute the binding special, limited obligations of the Issuer or the Alternate Issuer, enforceable in accordance with their terms, subject to normal bankruptcy exceptions, and (ii) if such Additional Bonds are issued as Tax-Exempt Bonds, the interest on such Additional Bonds is not includable in gross income for federal income tax purposes. 30 735810810