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SA_FULL PACKET_2016-07-05
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SA_FULL PACKET_2016-07-05
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Last modified
6/30/2016 5:41:03 PM
Creation date
6/30/2016 5:40:40 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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Redevelopment Plan available for or deposited into the RPTTF, to the extent not payable to <br />Senior Bonds, payable with respect to Pass Through Obligations, and subject to the equal and <br />senior claims of indebtedness, if, any. <br />If, and to the extent, that the provisions of Section 34172 or paragraph (2) of subdivision <br />(a) of Section 34183 of the Dissolution Act are invalidated by a final judicial decision, then Tax <br />Revenues will include all tax revenues allocated to the payment of indebtedness pursuant to <br />California Health and Safety Code Section 33670 or such other section as may be in effect at the <br />time providing for the allocation of tax increment revenues in accordance with Article XVI, <br />Section 16 of the California Constitution, <br />"Term Bonds" shall mean Bonds which are payable on or before their specified maturity <br />dates from Sinking Account histallments established for that purpose. <br />"Term Bonds Sinking Account" shall mean the account maintained within the Tax <br />Increment Fund pursuant to Section 5.03 of the Indenture. <br />"Trustee" shall mean The Bank of New York Mellon Trust Company, N.A., appointed <br />by the Agency in Section 7.01 and acting with the duties and powers herein provided, and its <br />successors and assigns, or any other corporation or association which may at any time be <br />substituted in its place, as provided in Section 7.02. <br />"Verification Report" shall mean a report of an independent firm of nationally <br />recognized certified public accountants, or such other firm as shall be acceptable to the Bond <br />Insurer, addressed to the Agency, the Trustee and the Bond Insurer, verifying the sufficiency of <br />the escrow established to pay Bonds in full at maturity or on a redemption date. <br />"Written Request of the Agency" shall mean an instrument in writing signed by the <br />Mayor, the City Manager or Director of Finance, acting for and on behalf of the Agency, the <br />Executive Director of the Agency, or the City Clerk acting for the Agency, or by any other <br />officer of the Agency duly authorized by the Agency for that purpose. <br />Section 1.02 Equal Security. In consideration of the acceptance of the Bonds by the <br />Owners thereof, the Indenture shall be deemed to be and shall constitute a contract between the <br />Agency and the Owners from time to time of all Bonds issued hereunder and then Outstanding to <br />secure the full and final payment of the interest on and principal of and redemption premiums, if <br />any, on all Bonds authorized, executed, issued and delivered hereunder, subject to the <br />agreements, conditions, covenants and provisions herein contained; and the agreements and <br />covenants herein set forth to be performed on behalf of the Agency shall be for the equal and <br />proportionate benefit, security and protection of all Owners of the Bonds without preference, <br />priority or distinction as to security or otherwise of any Bonds over any other Bonds. <br />15 <br />3 -33 <br />
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