Laserfiche WebLink
If at any time the City is of the opinion that for <br />purposes of this subsection (f) it is necessary to restrict or <br />limit the yield on or change in any way the investment of any <br />moneys held by the Trustee or the City or the Corporation <br />under this Lease or the Trust Agreement, the City shall so <br />instruct the Trustee or the appropriate officials of the City <br />in writing, and the Trustee or the appropriate officials of <br />the City, as the case may be, shall take such actions as may <br />be necessary in accordance with such instructions. In <br />furtherance of the covenants of the City set forth above, the <br />City will comply with the Rebate Certificate and will cause <br />the Trustee to comply with the Rebate Certificate. The <br />Trustee and the Corporation may conclusively rely on any <br />instructions delivered by the City pursuant hereto or pursuant <br />to the Rebate Certificate, and the City hereby agrees to <br />indemnify and hold harmless the Trustee and the Corporation <br />for any loss, claim, damage, liability or expense incurred by <br />the Corporation for any actions taken by the Corporation in <br />accordance with such instructions. <br /> <br /> The City and the Corporation shall at all times do <br />and perform all acts and things permitted by law which are <br />necessary or desirable in order to assure that the interest <br />component of the Base Rental will be exempt from federal <br />income taxes and shall take no action that would result in <br />such interest not being exempt from federal income taxes. <br /> <br /> Section 5. Construction of Capital Project I; <br />Acceptance of Capital Project II; Changes to Capital <br />Projects I and II. <br /> <br /> (a) The City has heretofore approved the plans and <br />specifications for Capital Project I and has satisfied all <br />environmental and construction permit requirements applicable <br />thereto. <br /> <br /> The City has obtained in the name of the Corporation <br />competitive bids for the construction of Capital Project I and <br />upon the execution and delivery of this Lease the Corporation <br />will enter into a contract with the Contractor, providing for <br />the complete construction of Capital Project I. The <br />Corporation and the City agree that Capital Project I will be <br />constructed in accordance with the plans and specifications <br />prepared by the Engineers and approved by the City. The <br />Corporation and the City further agree that Capital Project I <br />will be substantially completed in accordance with said plans <br />and specifications within the.time set forth in said <br />construction contract. <br /> <br /> The City agrees that upon substantial completion of <br />Capital Project I it will take possession of and occupy <br /> <br /> F-13 <br />1456S <br /> <br /> <br />