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2016-147 Council Resolution
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2016-147 Council Resolution
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6/14/2017 11:59:17 AM
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6/12/2017 2:21:00 PM
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City Council
Council Document Type
Resolutions
Meeting Date
10/24/2016
Council Meeting Type
Regular
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dated the date of issuance and delivery of the Bonds, as originally executed and as it may be amended <br />from time to time in accordance with the terms thereof. <br />9.02. City Compliance with Provisions of Continuing Disclosure Certificate. The City hereby <br />covenants and agrees that it will comply with and carry out all of the provisions of the Continuing <br />Disclosure Certificate. Notwithstanding any other provision of this resolution, failure of the City to <br />comply with the Continuing Disclosure Certificate is not to be considered an event of default with respect <br />to the Bonds; however, any Bondholder may take such actions as may be necessary and appropriate, <br />including seeking mandate or specific performance by court order, to cause the City to comply with its <br />obligations under this section. <br />Section 10. Defeasance. When all Bonds and all interest thereon have been discharged as <br />provided in this section, all pledges, covenants and other rights granted by this resolution to the holders of the <br />Bonds will cease, except that the pledge of the full faith and credit of the City for the prompt and full <br />payment of the principal of and interest on the Bonds will remain in full force and effect. The City may <br />discharge all Bonds which are due on any date by depositing with the Registrar on or before that date a sum <br />sufficient for the payment thereof in full. If any Bond should not be paid when due, it may nevertheless be <br />discharged by depositing with the Registrar a sum sufficient for the payment thereof in full with interest <br />accrued to the date of such deposit. <br />486866v2 JAE LN140-117 <br />(The remainder of this page is intentionally left blank.) <br />10 <br />
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