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1995-152
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1995-152
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Last modified
3/11/2019 3:08:10 PM
Creation date
3/11/2019 3:00:22 PM
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Resolutions
Resolution Number
1995-152
Approved Date
12/05/1995
Resolution Type
Housing
Entity Name
Escambia County Housing Finance Authority
Interlocal Agreement
Subject
TEFRA single Family Mortgage Revenue Bonds
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40 <br />S,:i,t 111 C -,-Tit to the Indenture reflecting, among other <br />int i -at It n, t h- Interest rate on the rioarkated Series B <br />PrnIs as wall as the maturity dates and amounts; <br />(i i ) an rg- ri)-n of counsel for the Authority stating that <br />the _�uyl,lemental indenture, the oriclinatic,n agreement and the <br />program administration and servicin agreR ent have ttwor, duly <br />authorized by the Authority and th— quppler�.ental indRnturoP, <br />the oricrinaticn agreement and the grogram administration and <br />servicin'a ayree"Amt. have been Px,< cuted and delivered by the <br />Authority and, asrming proper Authorize. ion and execution by <br />the other- parties thereto, the Indenture, the origination <br />agreement and the program a6ministration and servicing <br />agreement are valid and binding agreements, enforceable <br />against the Authority in accordance with their terms (subject <br />to any applicable bankruptcy, reorganization, insolvency, <br />moratorium or similar .law affecting the enforcement of <br />creditun s' rilrhts generally) ; <br />(iii) 11; opinion of Bond Counsel stating that the <br />establishment of the interest. rate on the Series B Honda; and <br />the execution cf the supplemental indenture have been duly and <br />validly authorized, that the supplemental indenture is a valid <br />and binding obligation of the Authority, enforceable against <br />the Authority in accordance with its terms (subject to any <br />.applicable bankruptcy, reorganization, insolvency, moratorium <br />or similar law affecting the enforcement of creditors' rights <br />generally) and that the reset of the interest rate on the <br />Series B Bonds and execution and delivery of the supplemental <br />indenture will not adversely ,affect the exclusion of interest <br />on the Series A bonds or the Series B Bonds from the gross <br />ancone of the recipients thereof for federal income tax <br />pu r poses; <br />(iv) final cash flow schedules and a written opinion of <br />err independent certified public accountant or fire of <br />;ndPpendent certified public accountants, experienced in such <br />n.st.t.ers verifying the *athesiatical accuracy of the computation <br />of the yields on the Series B Mortgagee Loans and on the Bonds <br />and cash flows on all ouch schedules; <br />(Y) a copy of each investment agreeesnt to he executed <br />in connection with the ton6arkettag of the Series B Bonds along <br />with opi n i ons of ccxn%se I to the pe ov i der (s) tbs. f ; <br />rr.# ; rmat ion f con the Rat inq Agency that tbs <br />3 er' .: r, , .:.j , t be Series B Bonds will not advelemly affect <br />t tse r at a.,,i 3 ?�w rH`r =-s A Banes and evidseae toot tin Meries <br />B Banes Hells be- . . "Rea • ry t M Ret Ing A4ssry <br />4 OW 8JMdMtOry TOMMOOt sit 0. f tr PUI TINpp+t 1 c7 Of UMP `NM <br />• •sAV ns <br />abet& be PGW fem anorwte psowtded by tbs Beawft"ab! <br />ls� :pie t~� 0 l" OMPAN ewe � 1. S"16 t <br />14 <br />
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