106-83 Bonds for Hospial - Laserfiche WebLink

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shall be under no obligation to see to the application thereof. The proceeds from the sale of any Additional Bonds, however, shall be held in trust and shall be disposed of as provided in the Series Bond Legislation authorizing the issuance of such Additional Bonds and the Supplemental Indenture executed in connection with the issuance of such Additional Bonds. Notwithstanding anything herein to the contrary, no Additional Bonds shall be issued unless the Bank either (i) issues, no later than the date of issuance and delivery of such Additional Bonds to the Original Purchaser thereof, an irrevocable letter of credit in favor of the Trustee in the face amount equal to the principal of and up to seven months' interest on such Additional Bonds on substantially the same terms and conditions as the Letter of Credit, or (ii) consents in writing to such issuance. Section 10. Covenants of the Issuer. In addition to the other covenants of the Issuer contained herein and in the Indenture, the Issuer further covenants with the Bondholders and the Trustee as follows: (a) Payment of Bond Service Char~es. The Issuer, solely from the sources herein provided, will pay or cause to be paid the Bond Service Charges on each and all Bonds on the dates, at the places, and in the manner provided herein, in any other applicable Series Bond Legislation, in the Indenture, in any Supplemental Indenture, and in the Bonds. (b) Performance of Covenants~ Authority and Actions. The Issuer will at all times faithfully observe and perform all agreements, covenants, undertakings, stipulations and provisions contained in the Bond Legislation, any Series Bond Legislation, the Indenture, any Sup- plemental Indenture and any and every Bond executed, authenticated, and delivered under the Indenture and in all proceedings of the Legislative Authority pertaining to the Bonds or the Indenture. The Issuer warrants and covenants that it is, and upon the delivery of the Series 1983 Bonds will be, duly authorized by the laws of the State to issue the Series 1983 Bonds, to execute the Indenture, and to provide the security for payment of Bond Service Charges in the manner and to the extent herein and in the Indenture set forth; that all actions on its part for the issuance of the Series 1983 Bonds and exe- cution and delivery of the Indenture have been or will be duly and effectively taken; and that the Series 1983 Bonds in the hands of the holders and owners thereof will be valid and enforceable special obliga- tions of the Issuer according to the terms thereof. (c) No Conflicting Pledge of Debt Service Fund. Except as otherwise provided in the Bond Legislation or the Indenture, the Issuer will not make any pledge or assignment of or create any lien or -27-