2014-048 - Execution and Delivery By the City of a Master Installment Purchase Agreement

Home Browse Search

otherwise requires. The headings or titles of the several Articles and Sections hereof, and any table of contents appended to copies hereof, shall be solely for convenience of reference and shall not affect the meaning, construction or effect of this Indenture. ARTICLE II ISSUANCE OF 2014 BONDS; REGISTRATION AND TRANSFER OF BONDS SECTION 2.01. Authorization and Purpose of 2014 Bonds. The Authority has reviewed all proceedings heretofore taken relative to the authorization of the 2014 Bonds and has found, as a result of such review, and hereby finds and determines that all acts, conditions and things required by law to exist, to have happened and to have been performed precedent to and in the issuance of the 2014 Bonds do exist, have happened and have been performed in due time, form and manner as required by law, and that the Authority is now duly authorized to issue the 2014 Bonds in the faun and manner provided herein for the purpose of providing funds to finance or refinance the costs of acquisition, construction, installation and improvement of the Project, and that the 2014 Bonds shall be entitled to the benefit, protection and security of the provisions hereof. SECTION 2.02. Execution of 2014 Bonds. The Chairman of the Authority is hereby authorized and directed to execute each of the 2014 Bonds on behalf of the Authority and the Secretary of the Authority is hereby authorized and directed to countersign each of the 2014 Bonds on behalf of the Authority and to impress the seal of the Authority thereon. The signatures of such Chairman and Secretary may be by printed, lithographed or engraved by facsimile reproduction. In case any officer whose signature appears on the 2014 Bonds shall cease to be such officer before the delivery of the 2014 Bonds to the purchaser thereof, such signature shall nevertheless be valid and sufficient for all purposes as if such officer had remained in office until such delivery of the 2014 Bonds. Only those 2014 Bonds bearing thereon a certificate of authentication and registration in substantially the forms set forth in Exhibit A hereto, executed manually and dated by the Trustee, shall be entitled to any benefit, protection or security hereunder or be valid or obligatory for any purpose, and such certificate of the Trustee shall be conclusive evidence that the 2014 Bonds so authenticated and registered have been duly authorized, executed, issued and delivered hereunder and are entitled to the benefit, protection and security hereof. SECTION 2.03. Transfer and Payment of Bonds. Any Bond may, in accordance with its teams, be transferred in the books required to be kept pursuant to the provisions of Section 2.08 by the person in whose name it is registered, in person or by his duly authorized attorney, upon surrender, at the Corporate Trust Office of the Trustee, of such Bond for cancellation accompanied by delivery of a duly executed written instrument of transfer in a form approved by the Trustee. Whenever any Bond or Bonds shall be surrendered for transfer, the Authority shall execute and the Trustee shall authenticate and deliver a new Bond or Bonds of a like aggregate principal amount of the same maturity and series. The Trustee shall require the payment by the Owner requesting such transfer of any tax or other governmental charge required to be paid with respect to such transfer as a condition precedent to the exercise of such privilege. 55394.00011 \8754149.4 12