81-144 Ordinance - Laserfiche WebLink

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_M, Section 9. Conditions to Issuance of Additional Bonds. Before any Additional Bonds are delivered there shall be delivered to the Trustee: (a) A duly certified copy of the Bond Legislation authorizing the execution and delivery of such Additional Bonds and any amendment or supplement to the Agreement, the Inden- ture and the Letters of Credit as may be required. (b) Original executed counterparts of any amendments or supplements to the Agreement, the Indenture and the Letters of Gredit. (c) A copy of the written request from the Company to the Issuer for issuance of the Additional Bonds; (d) The written opinion of bond counsel that the Bonds, when duly executed and delivered, will be valid and legally binding special obligations of the Issuer enforceable in accordance with their terms and will be secured by the Letters of Credit and the Indenture and will be on a par- ity with all Bonds at the time outstanding. Such opinion shall be qualified as follows: (i) the enforceability of the terms and provisions of the Bonds is subject to the application of bankruptcy, insolvency, reorganization, moratorium and other similiar laws respecting creditors' rights generally; (ii) the remedy of specific perform- ance is generally discretionary a=ith the court and may not be available with respect to the enforcement of the terms or provisions of the Bonds; (iii) judicial deci- sions indicate that public policy may make unenforceable provisions in agreements respecting payment by a debtor of the costs of administration and enforcement, including, without limitation, attorneys' fees, and (iv) certain of the notice waiver and remedial provisions contained in the Bonds may be unenforceable in whole or in part. Section 10. Covenants of Issuer. In addition to other coven- ants of the Issuer in this Bond Legislation and the Indenture contained, the Issuer further covenants and agrees as follows: (a) Payment of Bond Service Charges. The Issuer will, solely from the sources herein provided, pay or cause to be paid the Bond service charges on e$ch and all Bonds on the dates, at the places and in the manner provided lierein, in the applicable Bond Legislation and in the Bonds and coupons. (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 Agreement, the Bond Legislation, the Indenture and in any and every Bond executed, authenticated and delivered under the Indenture, and in all BR-16