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1996-042
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1996-042
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Last modified
10/19/2015 3:53:36 PM
Creation date
10/15/2015 2:28:16 PM
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Resolutions
Resolution Number
1996-042
Approved Date
03/19/1996
Resolution Type
Sale of water and sewer revenue bonds
Subject
Bonb Purchase Contract
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Financial Umninty In.uranrr <br />Compnm <br />Page B-3 <br />owing. Furthermore, no additional bonds may be issued <br />under the Authorizing Document without Financial <br />Guaranty's prior written consent if any Policy Costs <br />are past due and owing to Financial Guaranty. <br />13. The Issuer shall provide Financial Guaranty with the <br />following information: <br />(i) Budget for each year and annual audited financial <br />statements, within .].e days after the end of its <br />fiscal year; /60 <br />(ii) Official statement or similar disclosure <br />document, if any, prepared in connection with the <br />issuance of additional debt; <br />(iii) Notice of the redemption, other than mandatory <br />sinking fund redemption, of any of the above - <br />referenced Bonds; <br />(iv) Such additional information as Financial Guaranty <br />may reasonably request from time to time; and <br />A epani fib repr-tfFig iequir@$hentIS-815- <br />14. Notices to the Insurer shall be sent to the following <br />address (or such other address as the Insurer may <br />designate in writing): Financial Guaranty Insurance <br />Company, 115 Broadway, New York, New York 10006 <br />Attention: Managing Counsel. <br />15. This Agreement may be executed in counterparts, each of <br />which alone and all of which together shall be deemed <br />one original Agreement. <br />16. If any one or more of the agreements, provisions or <br />terms of this Agreement shall be for any reason <br />whatsoever held invalid, then such agreements, <br />provisions or terms shall be deemed severable from the <br />remaining agreements, provisions or terms of this <br />Agreement and shall in no way affect the validity or <br />enforceability of the other provisions of this <br />Agreement. <br />17. All capitalized terms used herein and not otherwise <br />defined shall have the meanings ascribed to them in the <br />Authorizing Document. <br />
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