1980-075 CRA - Laserfiche WebLink

Home Browse Search

. . . . . . (11 ) to Article V; (12) The amount, if any, necessary for deposit in the Debt Serv i ce Reserve Fund; The designation of any Accounts to be established pursuant (13) The amount, if any, necessary for deposit in the Mortgage Reserve Fund; and (14) Any other provisions deemed advisable by the Agency, not in conflict with or in substitution for the provisions of this Resolution. suPPle;~~tal I~~~~~~~i:~~ ~~~ i~~~s o:a~nb~s. exer.:ut::d t::i~r a~~ho~:~:i;o~f b~h: Agency, and delivered by the Trustee to the purchasers thereof upon compliance by the Agency with the requirements, if any, set forth in such Supplemental Resolution and with the requirements of Section 304. 304. Conditions Precedent to Delivery of Bonds. The Trustee shall del iver to the purchasers thereof any Bonds authorized to be issued pursuant to this Resolution and a Supplemental Resolution, but only upon receipt of the following: (1) A copy of this Resolution and Supplemental Resolution, each certi fied by an Author ized Offi cer; (2) An Opinion of Counselor bond counsel, as the case may be, stating (i) that in the opinion of such counsel the Resolution and Supplemental Resolution have been duly adopted by the Agency and the Supplemental Resolution contains the provisions required by this Resolution; (ii) that the Resolution and the Supplemental Resolution are valid and binding upon the Agency and are enforceable in accordance with their terms; (iii) that the Resolution and the Supplemental Resolution create a valid pledge of that which the Resolution and the Supplemental Resolution purport to pledge, subject to the provisions of this Resolution and the Supplemental Resolution; provided, however, that the Opinion of Counsel may be qualified to the extent that the enforceability of the Resolution and the Supplemental Resolution may be limited by bankruptcy, insolvency and other laws affecting the rights of creditors generally; (iv) that the Trustee is duly authorized by the Agency to del iver Bonds as identified and described in the Supplemental Resolution; and (v) that the principal amount of Bonds to be issued and then Outstanding will not exceed any limit imposed by law; (3) An Officer's Certificate stating that the Agency is not, at the time of issuance of such Bonds, in default hereunder, directing the Trustee to del iver such Bonds as authorized, and'stating the amounts to be deposited in the various applicable Funds and Accounts; (4) A Certificate of Pledged Revenues, giving effect to the issuance of such Bonds, together with an Accountant's Certificate containing a 22