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SA 3 - RESO - TAX ALLOCATION BONDS
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SA 3 - RESO - TAX ALLOCATION BONDS
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Last modified
6/30/2016 4:21:44 PM
Creation date
6/30/2016 3:50:32 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
3
Date
7/5/2016
Destruction Year
2021
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and the opinion of such counsel shall be full and complete authorization and protection for any <br />action taken or suffered or omitted by it hereunder in good faith and in accordance therewith. <br />Whenever in the administration of the trusts imposed upon it by the Indenture the Trustee <br />shall deem it necessary or desirable that a matter be proved or established prior to taking or <br />suffering or omitting any action hereunder, such matter (unless other evidence in respect thereof <br />be herein specifically prescribed) may be deemed to be conclusively proved and established by <br />an Officer's Certificate, and such Certificate shall be full warrant to the Trustee for any action <br />taken or suffered or omitted in good faith under the provisions of the Indenture in reliance upon <br />such Certificate, but in its discretion the Trustee may, in lieu thereof, accept other evidence of <br />such matter or may require such additional evidence as to it may seem reasonable. <br />The Trustee shall be entitled to advice of counsel and other professionals concerning all <br />matters of trust and its duty hereunder, but the Trustee shall not be answerable for the <br />professional malpractice of any attorney -at -law or certified public accountant in connection with <br />the rendering of his professional advice in accordance with the terms of the Indenture, if such <br />attorney -at -law or certified public accountant was selected by the Trustee with due care. <br />Section 7.07 Preservation and Inspection of Documents. All documents received by <br />the Trustee under the provisions of the Indenture shall be retained in its possession and shall be <br />subject at all reasonable times upon prior notice to the inspection of the Agency, the Bond <br />Insurer and the Owners of at least twenty -five percent (25 %) of the aggregate principal amount <br />of the Bonds, and their agents and representatives duly authorized in writing, at reasonable hours <br />and under reasonable conditions. <br />Section 7.08 Indemnity for Trustee. Before taking any action or exercising any rights <br />or powers render the Indenture, the Trustee may require that satisfactory indemnity be furnished <br />to it for the reimbursement of all costs and expenses which it may incur and to indemnify it <br />against all liability, except liability which may result from its negligence or willful misconduct, <br />by reason of any action so taken. <br />ARTICLE VIII <br />EXECUTION OF INSTRUMENTS BY OWNERS AND PROOF <br />OF OWNERSHIP OF THE BONDS <br />Section 8.01 Execution of Instruments, Proof of Ownership. Any request, direction, <br />consent or other instrument in writing required or permitted by the Indenture to be signed or <br />executed by Owners may be in any number of concurrent instruments of similar tenor by <br />different parties and may be signed or executed by such Owners in person or by agent appointed <br />by an instrument in writing. Proof of the execution of any such instrument and of the ownership <br />of the Bonds shall be sufficient for any purpose of the Indenture and shall be conclusive in favor <br />of the Trustee with regard to any action taken, suffered or omitted by either of them under such <br />instrtmnent if made in the following manner: <br />(a) The fact and date of the execution by any person of any such instnunent <br />may be proved by the certificate of any officer in any jurisdiction who, by the laws <br />46 <br />3 -64 <br />
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