1997-034 - Laserfiche WebLink

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• • shall, at the option of the County, be terminated. SECTION 3. The County will, at the proper time, and subject in all respects to the prior advice, consent and approval of the Company, submit applications, adopt such proceedings and authorize the execution of such documents as may be necessary and advisable for the authorization, sale and issuance of the Bonds and the construction and equipping of the Project, all as shall be authorized by law and mutually satisfactory to the County and the Company. SECTION 4. The Bonds issued shall be in such aggregate prin- cipal amount, shall bear interest at such rate or rates, shall be payable at such times and places, shall be in such forms and de- nominations, shall be sold in such manner and at such time or times, shall have such provisions for redemption, shall be execut- ed, and shall be secured, all as shall be authorized by the Act and all on terms mutually satisfactory to the County and the Company. SECTION 5. The County will use and apply the proceeds of the issuance and sale of the Bonds, or cause such proceeds to be used and applied, to the extent of such proceeds, to pay the cost of the Project, and will loan such Bond proceeds to the Company for the Project pursuant to a financing agreement requiring the Company to make payment for the account of the County in installments sufficient to pay all of the interest, principal, redemption premiums (if any) and other costs due under and pursuant to the Bonds when and as the same become due and payable, to operate, repair and maintain the Project at the Company's own expense, to pay all other costs incurred by the County in connection with the financing of the acquisition, rehabilitation, expansion, equipping and administration of the Project which are not paid out of the Bond proceeds or otherwise for so long as any of the Bonds remain outstanding, and for the conveyance to the Company of all rights, title and interest of the County in and to the Project when all of the obligations of the Company under the financing agreement have been performed and satisfied. SECTION 6. The Company hereby acknowledges and accepts that it shall be solely responsible for the construction and equipping of the Project, it being understood and agreed that the Company shall provide all services incident to the construction and equipping of the Project (including, without limitation, the preparation of plans, specifications and contract documents, the award of contracts, the inspection and supervision of work performed, the employment of engineers, architects, building and other contractors) and that the Company shall pay all costs of the Project, subject to reimbursement by the County upon the issuance and sale of the Bonds of costs of the Project as permitted by applicable State law and federal tax law, and the use and applica- tion of the proceeds thereof as provided above. The County shall have no responsibility for the provision of the aforesaid services. 3