2002_0923_packet - Laserfiche WebLink

Home

(d) The Bond Purchase Agreement (the `Bond Purchase Agreement"), among U. S. Bancorp Piper Jaffray Inc. (the "Underwriter"), the Corporation and the City, dated as of closing, providing for the purchase of the Bonds from the City by the Underwriter and setting forth the terms and conditions of purchase; and (e) The Official Statement and the insertion of the fmal underwriting details of the Bonds, including the interest rates thereon, and any other changes deemed necessary or desirable, intended to constitute the form of the fmal Official Statement, and including a11 Appendices thereto (together the "Official Statement")), describing the offering of the Bonds, and certain terms and provisions of the foregoing documents relating to the Bonds. 3. l�i.nal��s.ereby found, determined and declared that: (a) Based on Corporation representations to City, the Project constitutes a project authorized by and described in the Act as health care facilities. (b) There is no litigation pending or, to the City's actual knowledge, threatened against the City relating to the Bonds, the Loan Agreement, the Bond Purchase Agreement, the Bond Indenture or the Endorsement (collectively, the "City Bond Documents") or questioning the due organization of the City, or the powers or authority of the City to issue the Bonds and undertake the transactions contemplated hereby. (c) The execution, delivery and performance of the City's obligations under the City Bond Documents do not and will not violate any order of any court or other agency of government of which the City is aware or in which the City is a pariy, or any indenture, agreement or other instrument to which the City is a pariy or by which it or any of its property is bound, or be in conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any such indenture, agreement or other instrument. (d) It is desirable that the Bonds be issued by the City upon the terms set forth in the Bond Indenture, under the provisions of which the City's interest in the Loan Agreement will be pledged to the Bond Trustee as security for the payment of principal of, premium, if any, and interest on the corresponding series of Bonds. (e) Under the provisions of the Act, and as provided in the City Bond Documents, the Bonds are not to be payable from nor charged upon any funds other than amounts payable pursuant to the Loan Agreement and moneys in the funds and accounts held by the Bond Trustee which are pledged to the payment thereof; the City is not subject to any liability thereon; no owners of the Bonds shall ever have the right to compel the exercise of the taxing power of the City to pay any of the Bonds or the interest thereon, nor to enforce payment thereof against any property of the City; the Bonds sha11 not constitute a general or moral obligation of the City or a charge, lien or encumbrance, legal or equitable, upon any properiy of the City (other than the interest of the City in the Loan Repayments to be made by the Corporation under the Loan 1432633�2 2