Purpose and Size. 1. The Obligation is being entered into pursuant to a resolution adopted by the Issuer on March 26, 2013 (hereinafter referred to as the “Resolution”) for the purpose of providing the funds to acquire and/or finance the equipment described in Schedule A No. 2 to the Master Lease (the “Equipment”). The Issuer intends that the transactions contemplated by the Obligation will constitute, for federal income tax purposes, a borrowing by the Issuer from the Bank. Under the Obligation, the Issuer is obligated to repay the borrowing by making payments to the Bank of Rental Payments (as defined in the Obligation), consisting of a principal component and an interest component, on the dates and in the amounts set forth in the Obligation. The interest component of the Obligation will begin to accrue on the date hereof.
Purpose and Size. 1. The Loan is being issued pursuant to the Loan Agreement to finance capital expenditures for the purpose of financing all or a portion of the costs of the construction and improvements to streets, curbs, gutters, sidewalks, and bridges within the City, the costs of the construction and renovation of various municipal buildings, the acquisition of all property real and personal appurtenant thereto and connected with such work, to pay all legal, fiscal, administrative, architectural, design, and engineering costs incident thereto, and to pay costs incident to the issuance of the Bond and the loan of the proceeds thereof to the City, as more fully described in the Loan Agreement (the "Project"), and to pay costs of issuance and administration of the Issuer’s obligations issued to finance the Loan. The amounts received from sale of the Loan, when added to amounts expected to be received from the investment of such proceeds, do not exceed the amounts which will be required to pay the costs of the Project and the costs of issuing and administering the Issuer’s obligations issued to finance the Loan.
Purpose and Size. 1. The Loan is being issued pursuant to the Loan Agreement to finance capital expenditures for the purpose of financing certain public works projects, consisting of financing the costs of the design, construction, construction monitoring, and equipping of a new School of Performing Arts Building, including related storm water drainage and parking, the acquisition of all other property real and personal appurtenant thereto and connected with such work, to pay all legal, fiscal, administrative, and engineering costs incident thereto, and to pay costs incident to the issuance of the Bond and the loan of the proceeds thereof to the City, as more fully described in the Loan Agreement (the "Project"), and to pay costs of issuance and administration of the Issuer’s obligations issued to finance the Loan. The amounts received from sale of the Loan, when added to amounts expected to be received from the investment of such proceeds, do not exceed the amounts which will be required to pay the costs of the Project and the costs of issuing and administering the Issuer’s obligations issued to finance the Loan.
Purpose and Size. 1. The Loan is being issued pursuant to the Loan Agreement to finance capital expenditures for the purpose of financing certain public works projects, consisting of financing all or a portion of the costs of road repairs and improvements, including paving, curbs, gutters, sidewalks, and bridges, the improvement and renovation of municipal buildings, including ADA compliance, roofing, and HVAC, drainage improvements within the City to avoid flooding, acquisition of equipment for various department of the City, the renovation, improvement, and equipping of parks within the City, the acquisition of all property real and personal appurtenant thereto and connected with such work, to pay all legal, fiscal, administrative, and engineering costs incident thereto, reimbursement for expenditures related to the foregoing project, and to pay costs incident to the issuance of the Bond and the loan of the proceeds thereof to the City, as more fully described in the Loan Agreement (the "Project"), and to pay costs of issuance and administration of the Issuer’s obligations issued to finance the Loan. The amounts received from sale of the Loan, when added to amounts expected to be received from the investment of such proceeds, do not exceed the amounts which will be required to pay the costs of the Project and the costs of issuing and administering the Issuer’s obligations issued to finance the Loan.
Purpose and Size. 1. The Loan is being issued pursuant to the Loan Agreement to finance a portion of the costs of roadway infrastructure construction and improvements within the City, the acquisition of all other property real and personal appurtenant thereto and connected with such work, and to pay all legal, fiscal, administrative, planning, and engineering costs incident thereto, and to pay costs incident to the issuance of the Bond and the loan of the proceeds thereof to the City, as more fully described in the Loan Agreement (the "Project"), and to pay costs of issuance and administration of the Issuer’s obligations issued to finance the Loan. The amounts received from sale of the Loan, when added to amounts expected to be received from the investment of such proceeds, do not exceed the amounts which will be required to pay the costs of the Project and the costs of issuing and administering the Issuer’s obligations issued to finance the Loan.
