2007-05-23 CC Set Agenda & Handouts

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For those programs, if any, that the Public Entity will directly operate on the Real Property ~d, if applicable, in the Facility, the Public Entity qovenants with and represents and warrants to the State Entity that; (i) it has the ability and. a plan to fund such programs, (ii) it has demonstrated such ability by way of a plan that it submitted to the State Entity, and (ill) it will annually adopt, by resolution, a budget for the operation of suchpro~ that clearly shows that forecast program revenues will be equal to or greater than forecast program expenses for the next fiscal year, and will supply to the State Entity and the Department of Finance certified copies of such resolution and budget. For those programs, if any, that will be operated on the Real Property and, if applicable, in the Facility, by a Usee under a Use Contract, the Public Entity covenants with and represents and warrants to the State Entity that; (i) it will not enter into such Use Contract unless the Usee has demonstrated that it has the ability and a plai1 to fund such program, (ii) it will require the Usee to provide an initial and annual program budgets that. clearly show that forecast program revenues will be equal to or greater than forecast program expenses for the next fiscal year, (ill) it will promptly review all submitted program budgets to determine if such budget clearly and accurately shows that the forecast program revenues will be equal to or greater than forecast program expenses for the next fiscal year, (iv) it wii1 reject any program budget that it believes does not accurately reflect forecast program revenues or expenses or does not show that forecast program revenues will be equal to or greater than forecast program expenses, and require the Usee to prepare and submit a revised program budget, and (v) upon receipt of a program budget that it believes accurately reflects forecast program revenues and expenses and that shows that forecast program revenues will be equal to or greater than forecast program expenses, it will approve such budget by resolution and supply to both the State Entity and the Commissioner of Finance certified copies of such resolution and budget. Section 2.04 Public Entity Representations and Warranties. The Public Entity further covenants with, and represents and warrants to the State Entity as follows: A. It . has legal authority to enter into, execute, and deliver this Agreement, the Declaration, and all documents referred to herein, and it has taken all actions necessary to its execution and delivery of such documents. B. This Agreement, the Declaration, and all other documents referred to herein are the legal, valid and binding obligations of the Public Entity enforceable against the Public Entity in accordance with their respective terms. C. It will comply with all of the terms, conditions, proVISIOns, covenants, requirements, and warranties in this Agreement, the Declaration, and all other documents referred to herein. D. It will comply with all of the provisions and requirements contained in the G.O. Compliance Legislation and the Commissioner's Order. E. It has made no material false statement or misstatement of fact in connection with its receipt of the Grant, and all of the information it previously submitted to the State Generic GO Bond Proceeds Grant Agreement for Construction Grants 5 RDGP-07-0004-0-FY07 Ver-12l2006 (Gnrc GO GA-Cnstrctn Gmt)