05-27-2026 Council Packet - Laserfiche WebLink

Home Browse Search

199386222v3 i TABLE OF CONTENTS ARTICLE I DEFINITIONS ........................................................................................................................ 2 Section 1.1 Defined Terms ...................................................................................................... 2 Section 1.2 Rules of Construction ......................................................................................... 23 ARTICLE II SOURCE OF PAYMENTS, GENERAL TERMS AND PROVISIONS OF THE GOVERNMENTAL NOTE............................................................................................. 23 Section 2.1 Security ............................................................................................................... 23 Section 2.2 Delivery of Security ............................................................................................ 24 Section 2.3 Source of Payment of Funding Loan and Other Obligations .............................. 25 Section 2.4 Form of Governmental Note ............................................................................... 25 Section 2.5 Delivery of Governmental Note, Conditions to Closing..................................... 25 Section 2.6 Required Transferee Representations; Participations; Sale and Assignment ......................................................................................................... 27 Section 2.7 Authority ............................................................................................................. 27 Section 2.8 No Litigation ....................................................................................................... 28 Section 2.9 Further Assurances ............................................................................................. 28 Section 2.10 No Other Encumbrances; No Dissolution........................................................... 28 Section 2.11 No Personal Liability .......................................................................................... 28 ARTICLE III INTEREST RATE, PAYMENT AND PREPAYMENT OF GOVERNMENTAL NOTE ............................................................................................................................... 29 Section 3.1 Origination, Maturity Date and Authorized Amount of Governmental Note ..................................................................................................................... 29 Section 3.2 Principal and Interest Payments .......................................................................... 29 Section 3.3 Draw-Down Funding .......................................................................................... 29 Section 3.4 Prepayment of Governmental Note .................................................................... 30 Section 3.5 Notice of Prepayment ......................................................................................... 30 ARTICLE IV FUNDS AND ACCOUNTS ............................................................................................... 30 Section 4.1 Authorization to Create Funds and Accounts ..................................................... 30 Section 4.2 Establishment of Funds and Accounts; Applications of Proceeds of the Funding Loan and Other Amounts. .................................................................... 30 Section 4.3 Funding Loan Fund; Direct Note Payment Fund. ............................................... 31 Section 4.4 Project Fund. ....................................................................................................... 32 Section 4.5 Tax and Insurance Escrow Fund ......................................................................... 32 Section 4.6 Replacement Reserve Fund ................................................................................ 33 Section 4.7 Operating Reserve Fund ..................................................................................... 33