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Ord86 1928
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Ord86 1928
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Last modified
10/11/2019 3:13:05 PM
Creation date
10/11/2019 3:12:59 PM
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Template:
CC Index
CC Index - Document Type
Ordinance
Date
3/17/1986
Description
1928 MAR 1 '7 1986 AN ORDINANCE ESTABLISHING THE REDWOOD CITY PUBLIC FACILITIES AND INFRASTRUCTURE AUTHORITY, PROVIDING FOR ITS GENERAL AND SPECIAL POWERS, INCLUDING THE POWER TO INCUR INDEBTEDNESS, AND SPECIFYING CERTAIN RIGHTS OF OBLIGEES OF THE AUTHORITY
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<br /> DES:djc 2/28/86 <br />part out of revenues or funds which are charged with the payment <br />of any bonds in connection with which such covenant is made. <br /> Section 4.20. Covenants; Insurance. The Authority may <br />provide for the making of a covenant requiring it to carry <br />insurance on any facilities, infrastructure or properties any <br />revenues of which are charged with the payment of any bonds in <br />connection with which such covenant is made, or any operations <br />incident thereto, specifying or limiting the kind, amount and <br />character of such insurance, and providing for the use and <br />disposition of the proceeds of any such insurance thereafter <br />collected. <br /> Section 4.21. Acceleration of Maturity; Terms and <br />Conditions. The Authority may provide for the terms and <br />conditions upon which any bonds may become or be declared due and <br />payable prior to maturity, upon the happening of any specified <br />event of default, and the terms and conditions upon which such <br />declaration and its consequences may be waived. <br /> Section 4.22. Breach of Covenant, Condition, or Obligation; <br />Effect. The Authority may provide for the rights, limitations, <br />powers, and duties arising upon breach by the Authority of any of <br />the covenants, conditions, or obligations contained in any <br />resolution, contract, or agreement. <br /> Section 4.23. Amendment, Modification or Waiver of <br />Conditions; Bondholders' Meetings. The Authority may provide for <br />a procedure by which certain specified terms and conditions of <br />any resolution, contract, or agreement may be subsequently <br /> 18 <br /> _.~. . <br />
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