10/19/1983 - Laserfiche WebLink

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F�__ OCT 19 193 s � 5 mu 126 the Loan agreement, Indenture or Guaranty Agreement, expressed or implied, is intended or shall be construed to confer upon any person or firm or corporation other than the Issuer, the Barroaer, the Guarantor, the holders of the Bonds and the Trustee any right, remedy or claim, legal or equitable, under and by reason of this resolution, the Loan Agreement, Guaranty Agreement or Indenture; this resolution, the Loan Agreement, Guaranty Agreement and Indenture intended to be and being for the sole and exclusive benefit of the Issuer, 'the Borrower, the holders from time to time of the Bonds and the Trustee. SECTION 13. PREREQUISITES PERFORMED. All acts, con- ditions and things relating to the passage of this resolution, and to the execution of the Loan Agreement, Indenture or Guaranty Agreeclent, required by the Constitution or laws of the State to happen, exist and be performed by the Issuer precedent to and in the passage hereof, and precedent. to the execution and delivery of the Loan Agreement, Indenture or Guaranty Agreement, have happened, exist and have been performed as so required. SECTION 14. GENERAL AUTHORITY. The members of the Board of County Commissioners of the Issuer and the officers, attorneys, engineers or other agents or employees of the Issuer are hereby authorized to do all acts and things required of them by this resolution, the Loan Agreement, Indenture or Guaranty Agreement, or desirable or consistent with the requirements hereof or such documents, for the full, punctual and complete performance of all the terms, covenants and agreements contained in the Bonds, Loan Agreement, Indenture or Guaranty Agreement and this resolution. SECTION 15. VALIDATION AUTHORIZED. The attorney for the Issuer is hereby authorized and directed to prepare and file proceedings in the Circuit Court for Indian River County, Florida, to validate the -Bonds in the manner provided by law. SECTION 16. ARBITRAGE. The Issuer covenants that it will not direct the Trustee to make any investments or acquiesce in the making of any investments by the Trustee pursuant to or under the Loan Agreement or the Indenture which could cause the Bonds to be "arbitrage bonds"' within the meaning of Section 103(c) of the Internal 'Revenue Code of 1954, as amended, and the applicable regulations issued thereunder. SECTION 17. RESOLUTION CONSTITUTES A CONTRACT. The Issuer covenants and agrees that this resolution shall constitute a contract between the Issuer and the holders from time to time of any of the Bonds then outstanding, and that all covenants and WE M M M