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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 />with the services and facilities furnished by such lessee or <br />operator, sufficient to assure the payment by such lessee or <br />operator to the Authority of the rentals or other charges payable <br />by such lessee or operator to the Authority. <br /> Section 4.17. Covenants; Reserve, Sinking, and Other <br />Special Funds; Use of Money in Funds. The Authority may provide <br />for the making of a covenant requiring the Authority to provide <br />for the establishment and maintenance of reserve funds, sinking <br />funds, or other special funds in the City treasury or special <br />trust accounts in a bank or trust company to insure payment, when <br />due or payable, whether at maturity or upon redemption, of the <br />principal of and interest on any bonds, including premiums, if <br />any, due upon the redemption of any thereof, or to insure the <br />application of the proceeds to the appropriate purpose. Any <br />money placed in any such reserve, sinking, or other special fund <br />or trust account shall constitute a trust fund and shall be <br />applied to the purposes for which it was created. <br /> Section 4.18. Covenants; Proceeds of Bonds. The Authority <br />may provide for the making of a covenant requiring it to apply <br />the proceeds for the bonds in connection with which such covenant <br />is made, or any part thereof, to the acquisition, construction, <br />maintenance or improvement of a specified facility, <br />infrastructure or other specified purpose. <br /> Section 4.19. Covenants; Additional Indebtedness. The <br />Authority may provide for the making of a covenant restricting <br />the incurring of additional indebtedness payable in whole or in <br /> 17 <br /> ._~- <br />
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