Common use of BOND ORDINANCES Clause in Contracts

BOND ORDINANCES. This Agreement is in all respects subject and subordinate to any and all City bond ordinances applicable to the Airport and airport system and to any other bond ordinances, which should amend, supplement or replace such bond ordinances. The Parties to this Agreement acknowledge and agree that all property subject to this Agreement which was financed by the net proceeds of tax-exempt bonds is owned by the City, and Concessionaire agrees not to take any action that would impair, or omit to take any action required to confirm, the treatment of such property as owned by the City for purposes of Section 142(b) of the Internal Revenue Code of 1986, as amended. In particular, the Concessionaire agrees to make, and hereby makes, an irrevocable election (binding on itself and all successors in interest under this Agreement) not to claim depreciation or an investment credit with respect to any property subject to this Agreement which was financed by the net proceeds of tax-exempt bonds and shall execute such forms and take such other action as the City may request in order to implement such election.

BOND ORDINANCES. This Agreement is in all respects subject and subordinate to any and all City bond ordinances applicable to the Airport and Airport, airport system system, and to any other bond ordinances, which should amend, supplement supplement, or replace such bond ordinances. The Parties to this Agreement acknowledge and agree that all property subject to this Agreement which that was financed by the net proceeds of tax-exempt bonds is owned by the City, and . Concessionaire agrees not to take any action that would impair, impair or omit to take any action required to confirm, confirm the treatment of such property as owned by the City for purposes of Section §142(b) of the Internal Revenue Code of 1986, as amended. In particular, the Concessionaire agrees to make, make and hereby makes, makes an irrevocable election (binding on itself and all successors in interest under this Agreement) not to claim depreciation or an investment credit with respect to any property subject to this Agreement which that was financed by the net proceeds of tax-exempt bonds and bonds. Concessionaire shall execute such forms and take such other action as the City may request in order to implement such election.

BOND ORDINANCES. This Agreement is in all respects subject and subordinate to any and all City bond ordinances applicable to the Airport and airport system and to any other bond ordinances, ordinances which should amend, supplement or replace such bond ordinances. The Parties parties to this Agreement acknowledge and agree that all property subject to this Agreement which was financed by the net proceeds of tax-exempt bonds is owned by the City, and Concessionaire Airline agrees not to take any action that would impair, or omit to take any action required to confirm, the treatment of such property as owned by the City for purposes of Section 142(b) of the Internal Revenue Code of 1986, as amended. In particular, the Concessionaire Airline agrees to make, and hereby makes, an irrevocable election (binding on itself and all successors in interest under this Agreement) not to claim depreciation or an investment credit with respect to any property subject to this Agreement which was financed by the net proceeds of tax-exempt bonds and shall execute such forms and take such other action as the City may request in order to implement such election.