Agmt15 City of RWC Public Financing Authority Water Revenue Refunding Bonds

Browse Search

more series of Additional Bonds secured by Revenues on a parity with the Series 2015 Bonds, and may issue and deliver such Additional Bonds in such principal amount as shall be determined by the Authority, but only upon compliance by the Authority with the p�ovisions of this Section, including the following specific conditions which are hereby made conditions precedent to the issuance of such Additional Bonds: (a) The parties to this Indenture shall have executed a Supplemental Indenture which (i) sets forth the terms and provisions of such Additional Bonds, including the establishment of such funds and accounts, which may be separate and apart from the funds and accounts established hereunder for the Series 2015 Bonds, as shall be necessary or appropriate, and (ii) requires that prior to the delivery of such Additional Bonds the Reserve Requirement with respect to such Additional Bonds shall be on deposit in the Reserve Fund established hereunder or in a reserve fund � established under such Supplemental Indenture, unless the requirement for a Reserve fund for the Series 2015 Bonds has been terminated as provided in Section 3.06 hereof; (b) The scheduled principal and interest payable with respect to such Additional Bonds shall be payable only on Interest Payment Dates applicable to the Series 2015 Bonds; (c) The Installment Purchase Contract shall have. been amended, if necessary, to (i) increase or adjust the Installment Payments due and payable on each Installment Payment Date to an amount sufficient to pay the principal, p�emium (if any) and interest payable with respect to all Outstanding Bonds, including all Additional Bonds as and when, if any, the same mature or become due and payable (except to the extent such principal, premium and interest may be payable out of moneys then in the Reserve Fund or othervvise on deposit with the Trustee in accordance with this Indenture), (ii) if appropriate, amend the definition of the Acquisition Project to include as part of the Acquisition Project all or any portion of additions, betterments, extensions, improvements or replacements, or such other real or personal property, to be financed, acquired or constructed or otherwise made subject to the Installment Purchase Contract, by the preparation, execution and delivery of such Additional Bonds, and (iii) make such other revisions to the Installment Purchase Contract as are necessitated by the issuance of such Additional Bonds (provided, however, that such other revisions shall not prejudice the rights of the Owners of Outstanding Bonds as granted them under the terms of this Indenture); (d) There shall have been delivered to the Trustee a counterpart of the amendments required by subsection (c) hereof; (e) The Trustee shall have received a Certificate of the Authority that no . Event of Default hereunder relating to the Authority exists (or any event which, once all notice or grace periods have passed, would constitute an Event of Default); (� The Trustee shall have received a certificate of the City that no Event of Default under the Installment Purchase Contract relating to the Ciry exists (or any event which, once all notice or grace periods have passed, would constitute an Event of Default); (g) The Trustee shall have received an opinion of Bond Counsel substantially to the effect that (i) said Supplemental Indenture and said amendments to the 16