Laserfiche WebLink
payable from the Revenues or secured by a pledge of or charge or lien upon the Revenues <br /> except the Bonds. <br /> SECTION 6.03. Against Sale or Other Disposition of the Leased <br /> Property. The Authority will not sell or otherwise dispose of, or cause or permit to be <br /> sold or otherwise disposed of, the Leased Property or any part thereof essential to its <br /> proper use or to the maintenance of the Revenues. The Authority will not enter into any <br /> agreement which impairs the use of the Leased Property or any part thereof necessary to <br /> secure adequate Revenues for the payment of the interest on and principal of and <br /> redemption premiums, if any, on the Bonds, or which would otherwise impair the rights of <br /> the Owners with respect to the Revenues or the use of the Leased Property. Any real or <br /> personal property constituting part of the Leased Property which has become nonoperative <br /> or which is not needed for the efficient and proper use of the Leased Property or which has <br /> become worn out may be sold at not less than the market value thereof if such sale will not <br /> reduce the Revenues and if the net proceeds of such sale are treated as Revenues and <br /> applied in the manner provided in Section 5.03. <br /> SECTION 6.04. Tax Covenants: Rebate Fund. <br /> (a) In addition to the other funds and accounts created pursuant hereto, <br /> the Trustee shall establish and maintain a fund separate from any other fund or account <br /> established and maintained hereunder designated the "Rebate Fund" (the "Rebate Fund"). <br /> Within the Rebate Fund, the Trustee shall maintain such accounts or subaccounts as may be <br /> prescribed in the Tax Certificate. The Trustee shall deposit moneys in the Rebate Fund <br /> pursuant to a Written Request of the City. Subject to the transfer provisions provided in <br /> paragraph (e) below, all money at any time deposited in the Rebate Fund shall be held by <br /> the Trustee in trust, to the extent required to satisfy the Rebate Requirement (as such term <br /> is defined in the Tax Certificate), for payment to the federal government of the United <br /> States of America, and neither the City, the Authority, the Trustee nor the Owner of any <br /> Bond shall have any right in or claim to such money. All amounts deposited into or on <br /> deposit in the Rebate Fund shall be governed by this Section and by the Tax Certificate <br /> (which is incorporated herein by reference). The Trustee shall be deemed conclusively to <br /> have complied with the provisions of this Section 6.04 and the Tax Certificate if it follows <br /> the Written Request of the City, including supplying all necessary information that is <br /> available to it in the manner provided in the Tax Certificate, and except as otherwise <br /> expressly provided herein, shall not be required to take any actions hereunder in the <br /> absence of written directions by the City, and shall have no liability or responsibility to <br /> enforce compliance by the City with the terms of the Tax Certificate or this Section. The <br /> Trustee agrees to comply with all Written Requests of the City given in accordance with the <br /> Tax Certificate. <br /> (b) Upon a Written Request of the City, an amount shall be deposited into <br /> the Rebate Fund by the Trustee from deposits by the City, if and to the extent required, so <br /> that the balance of the amount on deposit thereto shall be equal to the Rebate Requirement. <br /> Computations of the Rebate Requirement shall be furnished by or on behalf of the City in <br /> LA1-63221.5 41 <br />