01-24-1990 Council Agenda - Laserfiche WebLink

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without preference of any one Bond over any other Bonds, the Board of Commissioners hereby authorizes and directs the President and Secretary to execute the Indenture between the Authority and the Trustee in substantially the form on file with the Secretary, and to deliver the Indenture to the Trustee, and does hereby authorize and direct the execution of the Bonds, and does hereby provide that the Indenture shall provide the terns and conditions, covenants, rights, obligations, duties and agreements of the Holders (as defined in the Indenture and hereinafter referred to as "Holders ") of the Bonds, the Authority and the Trustee as set forth therein. All of the provisions of the Indenture, when executed as authorized herein, shall be deemed to be a part of this resolution as fully and to the same extent as if incorporated herein and shall be in full force and effect from the date of execution and delivery thereof. 5. That the President and the Secretary are hereby authorized and directed to execute, attest and deliver the Contract in substantially the form on file with the Secretary. All of the provisions of the Contract, when executed and delivered as authorized herein, shall be deemed to be part of this resolution as fully and to the same extent as if incorporated herein and shall be in full force and effect according to the terms thereof from the date of execution and delivery thereof. 6. Upon the City's providing for the payment or discharge of the Bonds in accordance with the terms of the Indenture, the Contract shall terminate and the Project and real estate on which the Project is located shall be reconveyed by the Authority to the City pursuant to a quit claim deed as provided in the Indenture. 7. That all covenants, stipulations, obligations and agreements of the Authority contained in this resolution and contained in the Indenture and the Contract, shall be deemed to be the covenants, stipulations, obligations and agreements of the Authority to the full extent authorized or permitted by law, and all such covenants, stipulations, obligations and agreements shall be binding upon the Authority. Except as otherwise provided in this resolution, all rights, powers and privileges conferred and duties and liabilities imposed upon the Authority or the Board of Commissioners thereof by the provisions of this resolution or by the Indenture or the Contract, shall be exercised or performed by the Authority by such members of the Board of Commissioners, or such officers, Page 15