Common use of Future Conditions Clause in Contracts

Future Conditions. A. If the City’s voters approve annexation into the District, full title to the Premises and the Joint Reserve Fund will be transferred to the District at no cost to the District, provided, that the District will be responsible to the City for any outstanding Bonds issued by the City under Paragraph 6 herein which shall become due in full to the City no later than (1) the final maturity of the Bonds, or (2) six years, whichever is sooner. The District shall make required payments under this section annually, at least sixty days in advance of any required payments from the City to its bondholders beginning the year in which the District first collects taxes from City residents. B. If the District’s voters approve dissolution of the District pursuant to RCW 27.12.320, full title to the Premises (including the then-existing collection and all the furniture, fixtures & equipment in the New Library) and the Joint Reserve Fund will be transferred to the City at no cost to the City to allow the City to maintain a public library in Sedro-▇▇▇▇▇▇▇ and a power of termination in favor of the City to enforce this obligation shall be included in the deed for the Premises. C. If a ballot proposition is approved in Skagit County creating a countywide rural county library district pursuant to RCW 27.12.470, resulting in the dissolution of the District, unless the new rural county library district assumes the rights and responsibilities of the District under the ILAs, full title to the Premises (including the then-existing collection and all the furniture, fixtures & equipment in the New Library) and the Joint Reserve Fund will be transferred to the City at no cost to the City to allow the City to maintain a public library in Sedro-▇▇▇▇▇▇▇ and a power of termination in favor of the City to enforce this obligation shall be included in the deed for the Premises.

Future Conditions. A. If the City’s voters approve annexation into the District, full title to the Premises and the Joint Reserve Fund will be transferred to the District at no cost to the District, provided, that the District will be responsible to the City for any outstanding Bonds issued by the City under Paragraph 6 herein which shall become due in full to the City no later than (1) the final maturity of the Bonds, or (2) six years, whichever is sooner. The District shall make required payments under this section annually, at least sixty days in advance of any required payments from the City to its bondholders beginning the year in which the District first collects taxes from City residents.. Formatted: Indent: Left: 0.75", No bullets or numbering B. If the District’s voters approve dissolution of the District pursuant to RCW 27.12.320, full title to the Premises (including the then-existing collection and all the furniture, fixtures & equipment in the New Library) and the Joint Reserve Fund will be transferred to the City at no cost to the City to allow the City to maintain a public library in Sedro-▇▇▇▇▇▇▇ and a power of termination in favor of the City to enforce this obligation shall be included in the deed for the Premises. C. If a ballot proposition is approved in Skagit County creating a countywide rural county library district pursuant to RCW 27.12.470, resulting in the dissolution of the District, unless the new rural county library district assumes the rights and responsibilities of the District under the ILAs, full title to the Premises (including the then-existing collection and all the furniture, fixtures & equipment in the New Library) and the Joint Reserve Fund will be transferred to the City at no cost to the City to allow the City to maintain a public library in Sedro-▇▇▇▇▇▇▇ and a power of termination in favor of the City to enforce this obligation shall be included in the deed for the Premises.