SR 05:336 - Laserfiche WebLink

o ORRICK Gty of Pleasanton Nove~ber2,2005 Page 2 is a public entity separate and apan from the Program Participants, and "[i]ts debts, liabilities and obligations do not constitute debts, liabilities or obligations of any party to [the] Agreement.'" Accordingly, the bonds issued for the project will be indebtedness of CSCDA, and the Gty-nI not be asked to approve or execute any of the financing dOCUInents. Moreover, the disclosure prepared for the bonds will not have anyinfonnation regarding the Gtyand will not include the Gty's name, other than with respect to where the project is located. The documents will be made available for your revieW" if you W"Ould like to receive copies. In order to further limit CSCDA's financial liability and that of its Program Participants, CSCDA requires that in connection vvith the loan of bond proceeds to a borrower, such borrower must indemnify CSCDA and the applicable Program Participant (the G~ from all losses, damages, claims, actions, liabilities, cons and expenses of any conceivable nature, kind or character relating to the applicable bonds and project. In this case, such indenmification will include the Gty. We call attention, however, to the fact that such obligation rnay be subject to bankruptcy, insolvency, reorganization, arrangement and other la~ relating to or affecting creditors' rights, to the application of equitable principles, to the exercise of judicial discretion in appropriate cases and to possible limitations on legal rernedies. I have provided you this letter at .the request of Mike LaPierre, CSCDA Program Manager. Do not hesitate to contact me if you have further questions with respect to this rnat:ter. Jus cc: Mike LaPierre, CSCDA J See Cal. Govenunent: Code Section 6508.1. .. __.the debts, liabilities, and obligations of the agency shall be debts, liabilities, and obligations of the parties to the agreement unless the agreement specifies otherwise." DOCSSFI :848913.1