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1988-037
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1988-037
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9/6/2022 10:51:02 AM
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9/2/2022 10:34:01 AM
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Resolutions
Resolution Number
1988-037
Approved Date
05/31/1988
Subject
Provide - retirement of SWDD Revenue Bonds, Series 1977
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all solid waste disposal system revenue bonds of the District at the time <br />outstanding under the Resolution. <br />7. The District, on the last day of the term hereby granted, <br />as extended, from time to time, or upon prior termination hereof in <br />accordance with express terms hereof, shall surrender to the County the <br />Leased Premises, but without any liability whatsoever on the part of the <br />District for the then existing condition and state of repair of any <br />property at the time constituting part of the Leased Premises. Upon <br />termination hereof, all improvements, additions, renovations, <br />replacements, and alterations to the property, including buildings, <br />vehicles and equipment, constituting the Leased Premises shall be <br />considered property of the County and the County shall have no liability <br />whatsoever to the District for any costs or expenses related thereto. <br />8. It is agreed that the term of this Lease automatically <br />shall be extended for such time as may be necessary to accomplish any of <br />the following purposes, plus one (1) day: <br />A. To enable the District to comply with any <br />covenant, condition, term or provision of the <br />Resolution, or any other indenture, resolution, <br />agreement- or contract entered into by the District <br />with respect to the Leased Premises and with the <br />approval and consent of the County; or <br />B. To enable the District to receive sufficient <br />net revenues from the Leased Premises to pay, when <br />due, the principal and interest upon all solid waste <br />disposal system revenue bonds of the District at any <br />time outstanding under the Resolution, as amended or <br />supplemented, from time to time, and all bonds or <br />other obligations of the District at any time <br />outstanding under any indenture or resolution of the <br />District, as amended and supplemented, from time to <br />time, under which any or all of the rents, profits, <br />receipts, revenues or money of the District derived or <br />to be derived, in any manner, with respect to the <br />Leased Premises are assigned, pledged or encumbered. <br />The County, at the request of the District, shall enter into <br />such written instrument or instruments which is or are necessary to <br />memorialize and carry out the effect and intent of this Section 8. <br />9. The parties hereto, frcm time to time, may enter into any <br />amendments hereto (which thereafter shall form a part hereof) as shall not <br />affect adversely the rights of or the security of holders of solid waste <br />disposal system revenue bonds or other obligations, as appropriate, of the <br />District, for any of the following purposes: <br />- 3 - <br />
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