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31-00 St. Ed's Project
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31-00 St. Ed's Project
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Last modified
5/14/2013 2:59:38 PM
Creation date
7/18/2003 6:14:19 AM
Metadata
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Template:
Office Of Council
Document Type
Ordinances
Date
7/18/2003
Date Adopted
6/19/2000
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appropriate officer of the Issuer shall certify a true transcript of all proceedings had with respect to <br />the issuance of the Series 2000 Bonds, along with such information from the records of the Issuer as <br />is necessary to determine the regularity and validity of the issuance of the Series 2000 Bonds. <br /> <br /> Section 9. Covenants of Issuer. In addition to other covenants of the Issuer in this Bond <br />Legislation, the Issuer further covenants and agrees as follows: <br /> <br /> (a) Pa.vment of Principal. Premium and Interest. The Issuer will, solely from the <br />sources herein or in the Indenture provided, pay or cause to be paid the principal of, premium, if any, <br />and interest on each and all Series 2000 Bonds on the dates, at the places and in the manner provided <br />herein, in the Indenture and in the Series 2000 Bonds. <br /> <br /> (b) Performance of Covenants. Authori_ty and Actions. The Issuer will at all times <br />faithfully observe and perform all agreements, covenants, undertakings, stipulations and provismns <br />contained in the Basic Documents and in all proceedings of the Issuer pertaining to the Series 2000 <br />Bonds. The Issuer warrants and covenants that it is, and upon delivery of the Series 2000 Bonds will <br />be, duly authorized by the laws of the State, including particularly and without limitation the Act, to <br />issue the Series 2000 Bonds and to execute the Basic Documents and all other documents to be <br />executed by it, to provide for the security for payment of the principal of, premium, if any, and <br />interest on the Series 2000 Bonds in the manner and to the extent herein and in the Indenture set <br />forth; that all actions on its part for the issuance of the Series 2000 Bonds and execution and delivery <br />of the Basic Documents and all other documents to be executed by it in connection with the issuance <br />of the Series 2000 Bonds, have been or will be duly and effectively taken; and that the Series 2000 <br />Bonds will be valid and enforceable special obligations of the Issuer according to the terms thereof. <br /> <br /> Section 10. Transcript of Proceedings. The Clerk, or other appropriate officer of the <br />Issuer, shall furnish to the Original Purchaser a tree transcript of proceedings, certified by the Clerk <br />or other officer, of (i) all proceedings had with reference to the issuance of the Series 2000 Bonds <br />and (ii) any other information from the records of the Issuer which may be necessary or appropriate <br />to determine the regularity and validity of the issuance of the Series 2000 Bonds. <br /> <br /> Section 11. No Debt or Tax Pledge. Anything in the Bond Legislation, the Series 2000 <br />Bonds or the Indenture to the contrary notwithstanding, the Series 2000 Bonds and the interest <br />payable thereon do not and shall not represent or constitute a debt or pledge of the faith and credit or <br />the taxing power of the Issuer or of the State or any political subdivision thereof within the meaning <br />of the provisions of the Constitution or the statutes of the State, and the Series 2000 Bonds shall <br />contain a statement to that effect and to the effect that the Series 2000 Bonds shall be payable solely <br />from the funds pledged therefor in accordance with the Indenture. Nothing herein or in the <br />Indenture, however, shall be deemed to prohibit the Issuer, of its own volition, from using to the <br />extent that it is authorized by law to do so, any other resources for the fulfillment of any of the terms, <br />conditions or obligations of the Indenture, the Bond Legislation or any of the Series 2000 Bonds. <br /> <br /> Section 12. Prevailing Rates of Wages. As provided in Section 165.031, Ohio Revised <br />Code, all wages paid to laborers and mechanics employed on the Project shall be paid (and the <br />Issuer shall require the Borrower to covenant that all such wages shall be paid) at not less than the <br />prevailing rates of wages for laborers and mechanics for each class of work called for by the Project, <br /> <br /> <br />
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