Limits on Special Tax Waivers and Bond Tenders Sample Clauses

Limits on Special Tax Waivers and Bond Tenders. The City covenants not to exercise its rights under the Act to waive delinquency and redemption penalties related to the Special Taxes or to declare Special Tax penalties amnesty program if to do so would materially and adversely affect the interests of the Owners of the Bonds and further covenants not to permit the tender of Bonds in payment of any Special Taxes except upon receipt of a certificate of an Independent Financial Consultant that to accept such tender will not result in the City having insufficient Special Tax Revenues to pay the principal of and interest on the Bonds and any Parity Bonds remaining Outstanding following such tender.
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Limits on Special Tax Waivers and Bond Tenders. The County covenants not to exercise its rights under the Act to waive delinquency and redemption penalties related to the Special Taxes or to declare Special Tax penalties amnesty program if to do so would materially and adversely affect the interests of the owners of the Bonds. The County further covenants not to permit the tender of Bonds in payment of any Special Taxes except upon receipt of a certificate of an Independent Financial Consultant that to accept such tender will not result in the County having insufficient Special Tax Revenues to pay the principal of and interest on the Bonds that will remain Outstanding following such tender.
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Limits on Special Tax Waivers and Bond Tenders. The School District covenants not to exercise its rights under the Act to waive delinquency and redemption penalties related to the Special Taxes or to declare Special Tax penalties amnesty program if to do so would materially and adversely affect the interests of the owners of the Bonds. The School District further covenants not to permit the tender of Bonds in payment of any Special Taxes except upon receipt of a certificate of an Independent Financial Consultant that to accept such tender will not result in the School District having insufficient Special Tax Revenues to pay the principal of and interest on the Bonds that will remain Outstanding following such tender.
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Limits on Special Tax Waivers and Bond Tenders. The City covenants not to exercise its rights under the Act to waive delinquency and redemption penalties related to the Special Taxes or to declare Special Tax penalties amnesty program if to do so would materially and adversely affect the interests of the owners of the 2022 Bonds. The City covenants not to permit the tender of 2022 Bonds in payment of any Special Taxes except upon receipt of a certificate of an Independent Financial Consultant that to accept such tender will not result in the City having insufficient Special Tax Revenues, assuming the Special Taxes are levied and collected in the maximum amount permitted by the Rate and Method, to pay the principal of and interest when due on the 2022 Bonds remaining Outstanding following such tender. Subject to the foregoing, in the event 2022 Bonds are tendered to the Fiscal Agent, such 2022 Bonds shall be cancelled by the Fiscal Agent and shall cease to accrue interest from the date such 2022 Bonds are tendered. Upon surrender of a 2022 Xxxx to be tendered in part only, the City shall execute and the Fiscal Agent shall authenticate and deliver to the tendering party a new 2022 Bond or 2022 Bonds the principal amount of which is equal to the untendered portion of the 2022 Bonds and the interest rate and maturity date of which shall be the same as the interest rate and maturity date of the tendered 2022 Bond. To the extent applicable, the City shall deliver to the Fiscal Agent an Officer’s Certificate setting forth any adjustments to the mandatory sinking fund schedule as a result of the tender, which Officer’s Certificate must be accompanied by a certificate of an Independent Financial Consultant to the effect that it has reviewed the proposed adjustments in the mandatory sinking fund schedule and that the remaining Special Tax Revenues, if the Special Taxes are levied and collected in the maximum amount permitted by the Rate and Method, will be sufficient to pay principal of and interest on the 2022 Bonds when due following such adjustment.
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Limits on Special Tax Waivers and Bond Tenders. 33 Section 5.17. City Bid at Foreclosure Sale 33 Section 5.18. Amendment of Rate and Method 33 ARTICLE VI INVESTMENTS; LIABILITY OF THE CITY Section 6.01. Deposit and Investment of Moneys in Funds 34 Section 6.02. Liability of City 35 Section 6.03. Employment of Agents by City 36 ARTICLE VII THE FISCAL AGENT Section 7.01. The Fiscal Agent 37 Section 7.02. Liability of Fiscal Agent 38 Section 7.03. Information; Books and Accounts 39 Section 7.04. Notice to Fiscal Agent 39 Section 7.05. Compensation, Indemnification 40 ARTICLE VIII MODIFICATION OR AMENDMENT Section 8.01. Amendments Permitted 41 Section 8.02. Owners’ Meetings 42 Section 8.03. Procedure for Amendment with Written Consent of Owners 42 Section 8.04. Disqualified Bonds 42 Section 8.05. Effect of Supplemental Agreement 43 Section 8.06. Endorsement or Replacement of Bonds Issued After Amendments 43 Section 8.07. Amendatory Endorsement of Bonds 43 ARTICLE IX MISCELLANEOUS Section 9.01. Benefits of Agreement Limited to Parties 44 Section 9.02. Successor and Predecessor 44 Section 9.03. Discharge of Agreement 44 Section 9.04. Execution of Documents and Proof of Ownership by Owners 45
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