1985-54 CRA - Laserfiche WebLink

Home Browse Search

. . . amounts thereof plus interest accrued to the redemption date, in the amounts and at the times set forth in the schedule or schedules of Minimum Sinking Account Payments contained in Section llA(3) hereof. "Opinion of Counsel" means a written opinion of an attorney or firm of attorneys of favorable reputation in the field of municipal bond law. Any opinion of such counsel may be based upon, insofar as it is related to factual matters, information which is in the possession of the Agency as shown by a certificate or opinion of, or representation by, an officer or officers of the Agency, unless such counsel knows, or in the exercise of reasonable care should have known, that the certificate, opinion or representation with respect to the matters upon which his or her opinion may be based, as aforesaid, is erroneous. "Outstanding", when used as of any particular time with reference to the Bonds, means, subject to the provisions of Section 3, all Bonds except: (a) Bonds theretofore cancelled by the Fiscal Agent or surrendered to the Fiscal Agent for cancellation; (b) Bonds paid or deemed to have been paid; and (c) Bonds in lieu of or in substitution for which other Bonds shall have been authorized, executed, issued and delivered by the Agency pursuant to this Resolution or any Supplemental Resolution. "Parity Bonds" means any additional tax allocation bonds (including, without limitation, bonds, notes, interim certificates, debentures or other obligations) issued by the Agency as permitted by Section 17 of this Resolution. "Paying Agent" means Texas Commerce Bank, National Association, New York, New York, as paying agent, tender agent and authenticating agent hereunder. "Pledged Revenues" means the Tax Revenues and such other moneys as are pledged to the payment of the Bonds as provided in Section 3 hereof. "Qualified Investment" means any of the following which at the time are legal investments under the laws of the State of California for moneys held hereunder and then proposed to be invested therein: (1) direct general obligations of the United States of America; (2) obligations guaranteed by the United States; (3) general obligations of the agencies and instrumentalities of the United States; (4) certificates of deposit, time deposits or demand deposits with any bank or savings institution qualified as a depository of public funds in the State of California, including the Fiscal Agent or any 12-02-85 9553p/2281/01 -5-