My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
04-14-2021 Council Packet
>
City Council Packets
>
2020-2029
>
2021
>
04-14-2021 Council Packet
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/31/2022 4:05:19 PM
Creation date
1/31/2022 4:03:22 PM
Metadata
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
280
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
13068487v2 <br /> <br /> <br /> 37 <br /> <br />Section 8.10 Limitation on Liability of the Issuer. It is understood and agreed by the <br />Corporation that the Bonds shall not be general obligations of the Issuer or give rise to a charge <br />against the general credit or taxing powers of the Issuer, but rather shall be special obligations <br />payable solely from revenues pledged and assigned to the payment thereof and secured by this <br />Loan Agreement. No Holder or Holders of the Bonds shall ever have the right to compel any <br />exercise of the taxing power of the Issuer to pay the Bonds or the interest or premium, if any, <br />thereon, nor to enforce payment thereof against any property of the Issuer except the revenues <br />under this Loan Agreement pledged to the payment thereof. No failure of the Issuer to comply <br />with any term, condition, covenant or agreement herein shall subject the Issuer to liability for any <br />claim for damages, costs or other financial or pecuniary charge except to the extent that the same <br />can be recovered from the Project Facilities or revenues therefrom, including those derived <br />pursuant to this Loan Agreement, and no execution on any claim, demand, cause of action or <br />judgment shall be levied upon or collected from the general credit, general funds or taxing power <br />of the Issuer. The Bonds shall not constitute a debt of the Issuer within the meaning of any <br />constitutional, statutory or charter limitation. However, nothing contained in this paragraph shall <br />impair the right of the Holder or Holders of the Bonds to enforce covenants made for the security <br />thereof as provided under the Act. <br />Section 8.11 Term of Agreement. Except as otherwise provided herein, this Loan <br />Agreement shall remain in full force and effect from the date of execution hereof until such time <br />as the Indenture has been discharged in accordance with its terms.
The URL can be used to link to this page
Your browser does not support the video tag.