06/22/1998 Council Packet - Laserfiche WebLink

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2.04. Execution, Authentication and Delivery. The Series 1998A Bonds, substantially in the form provided in the Indenture, will be prepared under the direction of the Executive Director and executed on behalf of the Authority by the signatures of the President and the Executive Director, provided that all signatures may be printed, engraved or lithographed facsimiles of the originals. Notwithstanding such execution, a Series 1998A Bond will not be valid or obligatory for any purpose or entitled to any security or benefit under this Resolution or the Indenture unless and until a certificate of authentication on the Series 1998A Bond has been duly executed by the manual signature of an authorized representative of the Trustee. When the Series 1998A Bonds have been so prepared, executed and authenticated, the Executive Director will deliver the same to The Depository Trust Company, New York, New York, on behalf of the Purchaser, upon payment of the purchase price, and the Purchaser is not obligated to see to the application of the purchase price. Section 3. Approval and Execution of Documents. The Ground Lease, the Lease, the Indenture, the Disbursing Agreement, the Assignment and the Continuing Disclosure Agreement described in Section 1 are hereby approved. The President and the Executive Director are authorized and directed to execute and deliver the Ground Lease, the Lease, the Indenture and the Disbursing Agreement on behalf of the Authority, substantially in the forms on file, but with all such changes therein as shall be approved by the officers executing the same, which approval shall be conclusively evidenced by the execution thereof. Copies of all of the transaction documents shall be delivered, filed and recorded as provided therein. The President, the Executive Director and other officers of the Authority are also authorized and directed to execute such other instruments as may be required to give effect to the transactions herein contemplated. Section 4. Payment; Security; Pledges and Covenants. The Series 1998A Bonds are payable solely from the Lease Payments to be made by the City under the Lease and from other moneys realized by the Trustee after default or termination of the Lease by the City as provided therein. No property or funds of the Authority, other than the property pledged pursuant to the Indenture and assigned to the Trustee pursuant to the Assignment, is pledged to the payment of the Series 1998A Bonds. Section 5. Authentication of Transcript. 5.01. The officers of the Authority are authorized and directed to prepare and furnish to the Purchaser and to the attorneys approving the Series 1998A Bonds, certified copies of proceedings and records of the Authority relating to the Series 1998A Bonds and such other certificates, affidavits and transcripts as may be required to show the facts within their knowledge or as shown by the books and records in their custody and under their control, relating to the validity and marketability of the Series 1998A Bonds and such instruments, including any heretofore furnished, may be deemed representations of the Authority as to the facts stated therein. 5.02. The preparation and distribution of the Official Statement prepared and circulated in connection with the issuance and sale of the Series 1998A Bonds is hereby approved. BbB144999 LN140 -60