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Ord86 1928
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Ord86 1928
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Last modified
7/5/2005 2:28:57 PM
Creation date
10/7/2004 11:38:58 AM
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Template:
CC Index
CC Index - Document Type
Ordinance
Date
3/17/1986
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<br /> DES:djc 2/28/86 <br />which are charged with the payment of any bonds in connection <br />with which such convenant is made, and to keep any and all such <br />facilities and infrastructure and property at all times in good <br />repair. <br /> Section 4.14. Covenants, Discharge of Claims, Charges and <br />Liens. The Authority may provide for the making of a covenant <br />requiring the Authority to pay and discharge from the funds <br />available for that purpose all lawful claims for labor, materials <br />and supplies, or other charges which, if unpaid, may become a <br />lien or charge upon all or any part of the revenue, any <br />facilities, infrastructure or properties, revenues charged with <br />the payment of any bonds in connection with which the covenant is <br />made, or physical properties of the project which may impair the <br />security of the bonds. <br /> Section 4.15. Covenants; Limitations on Right to Encumber, <br />Sell or Lease. The Authority may provide for the making of a <br />covenant which limits, restricts, or prohibits the power of the <br />Authority to mortgage or otherwise encumber, sell, lease, or <br />dispose of any or all facilities, infrastructure and properties, <br />any revenues of which are charged with the payment of any bonds <br />in connection with which the covenant is made, or to enter into <br />any lease or agreement which might impair or impede the operation <br />of such facilities, infrastructure or properties, or any part <br />thereof, or might otherwise impair or impede the rights of <br />bondholders with respect to such revenues. <br /> 15 <br /> .'-.-. <br />
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