1983-102 - Laserfiche WebLink

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"Supplemental Note" shall mean a promissory note given to the [3suer by the Borrower evidencing the Borrower's obligation to re!Jay any loan derived from the issuance of Add.;.tional Bonds. "Trustee" shall rnean the trustee at the time serving as such un~er the Indenture. Section 1.2 Representations of the Issuer. The Issuer .nakes the following representations as the basis for the unJertakings on the part of the Bor_ower herein contained: (a) The Issuer is a political subdivision of the State, duly ?r~anize<l and validly existing under and pursuant to the Constitution and laws of the State. {b) The Issuer has full power and authority under the ,\ct t,o c!ngage in the transactions contemplated by this t'.greement and the [ntlenture and to carry out its obligations hereunder and ther~uniler. (c) The Issuer is not in default under any provision of feder-11 ,Jr State law which would impair its ability to perform under this Agreement. (d) 'l'he Issuer by proper official action, has duly authorized the execution, delivery and performance of this ,\gr,~ement :inu the Indenture; and has approve<l the Bonds in accor- da.ncr:? ·..ii.th the provisions of the Code. (e) The financing of the acquisition, construction and c4ui:rnent of the Project by the aorrower, ;;i.s provided by this Agreement., will further the purposes of the /\ct by promoting the economic development of the State, increasing opportunities for ,3ainful e:nr>loyment, and improving generally the prosperity and welfare of the State and its inhabitants. (f) In order to enable the Borrower to <lefray the Cost of the ProJect, concurrently with the delivery hereof, the Issuer has issued $2,400,000 principal amount of the Bonds, the proceeds of ,;hi ch wi l L be loaned to the IJorrower pursuant to this l\gree- :11ent. Section 1.3 Representations and Warranties of the [l,orrower. The Borrower represents and warrants, as the basis for the untl~rt.ai<ings on the part of the Issuer herein contained and as <ln inducement for the purchase of DonJs, as follows: (u) 'l'he Sorrower is u. corporation duly incorporated, v~llJly existing and in good st.andi~g under the La.ws of the State -10-