Ordinance 1981-712 - Laserfiche WebLink

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I, I Bond and the Proceeds derived therefrom; no Reserve shall be established; (c) the Loan Agreement provides that the Bo rower shall maintain the Project and carry all proper insurance ith respect thereto; (d) the Loan Agreement requires that the orrower pay the taxes which the taxing entities specified in Sect on 29-3-120 ( 3 ) of the Act are entitled to receive with respect 0 the Proj- ect; (e) the payments requ~red to be made y the Loan Agreement are sufficient to pay the principal of, inte est on, and any premium due in connection with the Series 1981 Bo d when due, and are sufficient to pay all other costs required t be made by the Loan Agreement. ( f ) The Project, as more fully described in the Loan Agreement, constitutes a project authorized by described in Section 29-3-103(10) of the Act, and will serve a alid public purpose; , (g) The issuance and sale of the Bond, t e execution and delivery of the Indenture and the Loan Agreement, and the performance of all covenants and agreements of th City con- tained in the Indenture and Loan Agreement, and 11 actions required under the laws of the State of Colorado o make the Indenture, Loan Agreement and Bond valid and binding obligations of the City in accordance with their terms, are autho ized by the Act. , (h) There is no litigation pending or, to the best of its knowledge, threatened ag ainst the City rela ing to the Project or to the Bond, Loan Agreement, Indenture, ortg age, or Assignment or questioning the organization, powers, r authority of the City. ( i ) The execution, delivery and perfor ance of the City's obligations under the Bond, the Indenture, nd the Loan Agreement have been fully authorized by all requ'site action and do not and will not violate any law, any order f any court or other agency of government, or any indenture, greement or other instrument to which the City is a party or by which it or - 6 -