Ordinance 2006-1493 - Laserfiche WebLink

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(c) The payments required in the Agreement to be made are sufficient to pay the principal of and interest on the Bond when due, and to pay all other costs required in the Agreement to be paid, including all sums referred to in paragraphs (b), (d) and (e) of this section. (d) The Agreement provides that the Borrower shall maintain the Project in good repair and carryall proper insurance with respect thereto. (e) The Agreement requires that the Borrower pay the taxes and other governmental charges with respect to the Project, including taxes and charges which the taxing entities specified in c.R.S. Section 29-3-120 are entitled to receive, and sufficient revenues for such purpose are thereby provided. (f) The Issuer hereby certifies that the reasonably anticipated aggregate amount of tax-exempt obligations which will be issued by the Issuer and all subordinate entities of the Issuer during the calendar year 2006 (excluding the portion of obligations issued to currently refund any obligation to the extent the amount of the refunding obligation does not exceed the outstanding amount of the refunded obligation) will not exceed $10,000,000. Accordingly, The Issuer hereby designates the Bond for purposes of Section 265(b)(3) of the Code as a "qualified tax-exempt obligation." Section 2. Issuance and Sale of Bond. The Issuer shall issue its Revenue Bond (Dental Aid, Inc. Project) Series 2006, to be in registered form and to be dated as provided in the Agreement, in a total principal amount not to exceed $850,000, for the purposes, in the forms and upon the terms set forth in this Ordinance and the Agreement, including the form of the Bond as set forth in the Agreement. The Bond shall be payable in the manner and to the persons set forth in the Agreement and the form of the Bond set forth therein. 3