1984 008 Ordinance - Laserfiche WebLink

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M.V. Ordinance No. 84-8 - 4 - as provided in the Code and the applicable rules and regulations of the Internal Revenue Service, is hereby authorized, directed and approved. (k) Additional Financing. At the request of the Company, provided that the Company is not in default under the Agreement and to the extent then permitted by law, including the Act, the Issuer shall use its best efforts to provide for the issuance of revenue obliga- tions in addition to the Bond for the purpose of (i) completing the Project, (ii) acquiring, constructing, installing or equipping additional property for use in connection with the Project or (iii) with the consent of the Holder refunding the Bond or any other such revenue obligations preeiously issued. Additional revenue obligations issued for any of the purposes described herein shall be issued only with the written consent, and approval of all terms thereof, of the Holder and shall be on a parity with the Bond as to the assignment of the Revenues and the Mortgaged Property, as defined in the Mortgage. The Holder may grant or withhold con- sent or approval of such additional bonds in its sole discretion. The consent and approval by the Holder to the issuance of one or more series of additional bonds shall not be construed as the consent or approval of the issuance, of any other additional bonds. Before additional revenue obligations are issued, there shall be delivered to the trustee or the Holder the items required by any indenture of trust and legislation providing for and authorizing their is- suance. The additional revenue obligations shall be in such principal amounts, be dated, bear interest at such rate or rates,.be subject to redemption at such times and prices and mature in such years as the legislation authorizing their issuance shall fix and determine. Section 14. Payments I?ue on Sundays and Holidays. In any case where the date of maturity of or due date of interest on or principal of the Bond shall be a Sunday or a day on which the, Aolder is required, or authorized or not prohibited, by law (including ex- ecutive orders) to close and is closed, then such pay- ment need not be made on such date but may be made on the next succeeding business day on which the Holder is open for business with the same force and effect as if made on the date of maturity or such due date; provided, however, that such extension of time will be included in the computation of the amount to be paid. Section 2. That Sections 8 and 14 of Ordinance No. 83-22, as the same have heretofore existed, and al.l other prior ordinances inconsistent with this ordinance in whole or in part are repealed to the extent necessary to avoid conflict with this-ordinance.