Examples of Financed Property in a sentence
At its own cost and expense the Local Government shall operate the Leased Property and the Related Financed Property in a proper, sound and economical manner in compliance with all legal requirements and shall maintain the Leased Property and the Related Financed Property in good repair and operating condition and from time to time shall make all necessary repairs, renewals and replacements.
The Local Government shall comply with all lawful requirements of any governmental authority regarding the Leased Property and the Related Financed Property, whether now existing or subsequently enacted, whether foreseen or unforeseen or whether involving any change in governmental policy or requiring structural, operational or other changes to the Leased Property or the Related Financed Property, or both, irrespective of the cost of making the same.
The City has incurred, or will incur within 6 months after the Issue Date, a substantial binding obligation to a third party to spend at least 5% of the net sale proceeds of the Certificates on the Financed Property.
The Local Government and the School Board shall, at their sole cost and expense, obtain all permits, consents and approvals required by local, state or federal laws, ordinances, rules, regulations or requirements in connection with the acquisition, construction, equipping, occupation, operation or use of the Leased Property and the Related Financed Property.
A list of the assets included in the Financed Property and a computation of the “average reasonably expected economic life” is attached to this Tax Certificate as Exhibit D.