Common use of Authorization of Bonds Clause in Contracts

Authorization of Bonds. (a) 2013A Bonds in the aggregate principal amount of $ and 2013B Bonds in the aggregate principal amount of $ are hereby authorized to be issued by the Successor Agency under and subject to the terms of this Indenture, the Health and Safety Code and the Act. The Bonds shall be designated the “Successor Agency to the ▇▇▇▇▇▇ ▇▇▇▇ Redevelopment Agency, Refunding Revenue Bonds, Series 2013A” and the “Successor Agency to the ▇▇▇▇▇▇ ▇▇▇▇ Redevelopment Agency, Refunding Revenue Bonds, Series 2013B (Taxable),” respectively. This Indenture constitutes a continuing agreement with the Trustee for the benefit of the Owners of all of the Bonds of each Series hereunder and then Outstanding to secure the full payment of the principal of and interest or redemption premium (if any) on all Bonds which may from time to time be executed and delivered hereunder, subject to the covenants, agreements, provisions and conditions herein contained. In connection with the refunding of the Prior Bonds, Section 3.2 hereof provides for the deposit of a portion of the proceeds of the Bonds in the Escrow Fund, which together with other moneys held under the Prior Indenture, will be used to refund the Prior Bonds and defease the Prior Indenture. Upon delivery of the Bonds hereunder, such sums are to be deposited and to be used as provided in this Indenture and the Escrow Agreement. (b) The Bonds shall be and are special obligations of the Successor Agency and are secured by an irrevocable pledge of, and are payable as to principal, interest and premium, if any, from Pledged Tax Revenues and other funds as hereinafter provided. Upon receipt by the Trustee in the then-current Bond Year of all amounts required to be deposited in the funds and accounts pursuant to this Indenture, any remaining Pledged Tax Revenues held by the County-Auditor Controller shall be released from the lien of this Indenture. The Bonds, interest and premium, if any, thereon are not a debt of the City, the County, the State or any of its political subdivisions (except the Successor Agency), and none of the City, the County, the State nor any of its political subdivisions (except the Successor Agency) is liable thereon. The Bonds, interest thereon and premium, if any, are not payable from any funds or properties other than those set forth in this Indenture. Neither the members of the Successor Agency Board, the Oversight Board, the County, the Board of Supervisors of the County nor any persons executing the Bonds is liable personally on the Bonds. (a) the payment of the Bonds from the proceeds of refunding bonds issued pursuant to this Indenture, the Health and Safety Code and the Act, as applicable, or (b) the payment of the Bonds from any legally available funds. The Successor Agency shall have the right to defease the Bonds and be discharged from the lien of this Indenture in accordance with the provision of Section 9.3 hereof. If the Successor Agency shall cause to be paid, or shall have made provision to pay upon maturity or upon redemption prior to maturity, to the Owners the principal of, premium, if any, and interest to become due on the Bonds, through setting aside trust funds or setting apart in a reserve fund or special trust account created pursuant to this Indenture or otherwise, or through the irrevocable segregation for that purpose in some sinking fund or other fund or trust account with a fiscal agent or otherwise, moneys sufficient therefor, including, but not limited to, interest earned or to be earned on the investment of such funds, then the lien of this Indenture, including, without limitation, the pledge of the Pledged Tax Revenues, and all other rights granted hereby, shall cease, terminate and become void and be discharged and satisfied, and the principal of, premium, if any, and interest on the Bonds shall no longer be deemed to be outstanding and unpaid; provided, however, that nothing in this Indenture shall require the deposit of more than such amount as may be sufficient, taking into account both the principal amount of such funds and the interest to become due on the investment thereof, to implement any refunding of the Bonds.

Authorization of Bonds. (a) 2013A In order to provide funds for the Loan, Bonds of the Authority in the aggregate series designated (i) “Independent Cities Finance Authority Mobile Home Park Revenue Refunding Bonds (Pillar Ridge), Series 2014A” to be issued in the initial principal amount of $ (the “Series A Bonds”) and 2013B (ii) “Independent Cities Finance Authority Mobile Home Park Subordinate Revenue Refunding Bonds (Pillar Ridge), Series 2014B” to be issued in the aggregate initial principal amount of $ (the “Series B Bonds”), are hereby authorized to be authorized. The Series A Bonds are payable on a parity basis from the Series A Bonds Trust Estate. The Series B Bonds are issued by the Successor Agency under and subject on a subordinate basis to the terms of Series A Bonds as set forth herein. There is hereby created by this Indenture, in the Health manner and Safety Code to the extent provided herein, a continuing pledge and lien to secure the Actfull and final payment of the principal and Redemption Price of and interest on all of the Bonds issued pursuant to this Indenture. The Bonds shall be designated special obligations of the “Successor Agency Authority payable solely from the Series A Bonds Trust Estate as to the ▇▇▇▇▇▇ ▇▇▇▇ Redevelopment Agency, Refunding Revenue Bonds, Series 2013A” A Bonds and the “Successor Agency Series B Bonds Trust Estate as to the ▇▇▇▇▇▇ ▇▇▇▇ Redevelopment AgencySeries B Bonds. No additional Bonds either on a senior, Refunding Revenue Bonds, Series 2013B (Taxable),” respectively. This Indenture constitutes a continuing agreement with the Trustee for the benefit of the Owners of all parity or subordinate basis to either series of the Bonds of each Series hereunder and then Outstanding to secure the full payment of the principal of and interest or redemption premium (if any) on all Bonds which may from time to time shall be executed and delivered hereunder, subject to the covenants, agreements, provisions and conditions herein contained. In connection with the refunding of the Prior Bonds, Section 3.2 hereof provides for the deposit of a portion of the proceeds of the Bonds in the Escrow Fund, which together with other moneys held issued under the Prior this Indenture, will be used to refund the Prior Bonds and defease the Prior Indenture. Upon delivery of the Bonds hereunder, such sums are to be deposited and to be used as provided in this Indenture and the Escrow Agreement. (bi) The Bonds shall be and are special obligations dated as of the Successor Agency Closing Date. The Bonds shall bear interest at the rates set forth herein, shall be numbered in such manner as the Trustee may deem appropriate so long as each Bond of each series receives a distinctive number and are secured by an irrevocable pledge ofshall mature, subject to the right of prior redemption as described herein, and are become payable as to principal, interest and premium, if any, from Pledged Tax Revenues and other funds as hereinafter provided. Upon receipt by the Trustee in the then-current Bond Year of all amounts required to be deposited in the funds and accounts pursuant to this Indenture, any remaining Pledged Tax Revenues held by the County-Auditor Controller shall be released from the lien of this Indenture. The Bonds, interest and premium, if any, thereon are not a debt of the City, the County, the State or any of its political subdivisions (except the Successor Agency), and none of the City, the County, the State nor any of its political subdivisions (except the Successor Agency) is liable thereon. The Bonds, interest thereon and premium, if any, are not payable from any funds or properties other than those set forth in this Indenture. Neither the members of the Successor Agency Board, the Oversight Board, the County, the Board of Supervisors of the County nor any persons executing the Bonds is liable personally on the Bondsprovided herein. (aii) the payment of the Bonds from the proceeds of refunding bonds issued pursuant to this Indenture, the Health and Safety Code and the Act, as applicable, or (b) the payment of the Bonds from any legally available funds. The Successor Agency shall have the right to defease the Bonds and be discharged from the lien of this Indenture in accordance with the provision of Section 9.3 hereof. If the Successor Agency shall cause to be paid, or shall have made provision to pay upon maturity or upon redemption prior to maturity, to the Owners the principal of, premium, if any, and interest to become due on the Bonds, through setting aside trust funds or setting apart in a reserve fund or special trust account created pursuant to this Indenture or otherwise, or through the irrevocable segregation for that purpose in some sinking fund or other fund or trust account with a fiscal agent or otherwise, moneys sufficient therefor, including, but not limited to, interest earned or to be earned on the investment of such funds, then the lien of this Indenture, including, without limitation, the pledge of the Pledged Tax Revenues, and all other rights granted hereby, shall cease, terminate and become void and be discharged and satisfied, and the principal of, premium, if any, and interest Interest on the Bonds shall no longer be deemed to computed on the basis of a 360-day year consisting of twelve 30-day months, payable on 15 and 15 of each year, commencing 15, 2014. The Series A Bonds shall be outstanding and unpaid; provided, however, that nothing issued in this Indenture shall require the deposit of more than such amount as may be sufficient, taking into account both the principal amount of such funds amounts, shall bear interest at the rates per annum, and the interest to become due shall mature on the investment thereofdates set forth below: Principal Amount Maturity Date The Series B Bonds shall be issued in the principal amounts, to implement any refunding of shall bear interest at the Bonds.rates per annum, and shall mature on the dates set forth below: Principal Amount Maturity Date

Authorization of Bonds. (a) 2013A In order to provide funds for the Loan, Bonds of the Authority in the aggregate series designated “Independent Cities Finance Authority Mobile Home Park Revenue Refunding Bonds (Santa ▇▇▇▇ Leisure Mobile Home Park), Series 2016” to be issued in the initial principal amount of $ and 2013B Bonds in (the aggregate principal amount of $ “Bonds”) are hereby authorized to be issued authorized. The Bonds are payable on a parity basis from the Trust Estate. There is hereby created by the Successor Agency under and subject to the terms of this Indenture, in the Health manner and Safety Code to the extent provided herein, a continuing pledge and lien to secure the Actfull and final payment of the principal and Redemption Price of and interest on all of the Bonds issued pursuant to this Indenture. The Bonds shall be designated special obligations of the “Successor Agency Authority payable solely from the Trust Estate. No additional Bonds either on a senior, a parity or subordinate basis to the ▇▇▇▇▇▇ ▇▇▇▇ Redevelopment Agency, Refunding Revenue Bonds, Series 2013A” and the “Successor Agency to the ▇▇▇▇▇▇ ▇▇▇▇ Redevelopment Agency, Refunding Revenue Bonds, Series 2013B (Taxable),” respectively. This Indenture constitutes a continuing agreement with the Trustee for the benefit of the Owners of all of the Bonds of each Series hereunder and then Outstanding to secure the full payment of the principal of and interest or redemption premium (if any) on all Bonds which may from time to time shall be executed and delivered hereunder, subject to the covenants, agreements, provisions and conditions herein contained. In connection with the refunding of the Prior Bonds, Section 3.2 hereof provides for the deposit of a portion of the proceeds of the Bonds in the Escrow Fund, which together with other moneys held issued under the Prior this Indenture, will be used to refund the Prior Bonds and defease the Prior Indenture. Upon delivery of the Bonds hereunder, such sums are to be deposited and to be used as provided in this Indenture and the Escrow Agreement. (bi) The Bonds shall be and are special obligations dated as of the Successor Agency Closing Date. The Bonds shall bear interest at the rates set forth herein, shall be numbered in such manner as the Trustee may deem appropriate so long as each Bond of each series receives a distinctive number and are secured by an irrevocable pledge ofshall mature, subject to the right of prior redemption as described herein, and are become payable as to principal, interest and premium, if any, from Pledged Tax Revenues and other funds as hereinafter provided. Upon receipt by the Trustee in the then-current Bond Year of all amounts required to be deposited in the funds and accounts pursuant to this Indenture, any remaining Pledged Tax Revenues held by the County-Auditor Controller shall be released from the lien of this Indenture. The Bonds, interest and premium, if any, thereon are not a debt of the City, the County, the State or any of its political subdivisions (except the Successor Agency), and none of the City, the County, the State nor any of its political subdivisions (except the Successor Agency) is liable thereon. The Bonds, interest thereon and premium, if any, are not payable from any funds or properties other than those set forth in this Indenture. Neither the members of the Successor Agency Board, the Oversight Board, the County, the Board of Supervisors of the County nor any persons executing the Bonds is liable personally on the Bondsprovided herein. (aii) the payment of the Bonds from the proceeds of refunding bonds issued pursuant to this Indenture, the Health and Safety Code and the Act, as applicable, or (b) the payment of the Bonds from any legally available funds. The Successor Agency shall have the right to defease the Bonds and be discharged from the lien of this Indenture in accordance with the provision of Section 9.3 hereof. If the Successor Agency shall cause to be paid, or shall have made provision to pay upon maturity or upon redemption prior to maturity, to the Owners the principal of, premium, if any, and interest to become due on the Bonds, through setting aside trust funds or setting apart in a reserve fund or special trust account created pursuant to this Indenture or otherwise, or through the irrevocable segregation for that purpose in some sinking fund or other fund or trust account with a fiscal agent or otherwise, moneys sufficient therefor, including, but not limited to, interest earned or to be earned on the investment of such funds, then the lien of this Indenture, including, without limitation, the pledge of the Pledged Tax Revenues, and all other rights granted hereby, shall cease, terminate and become void and be discharged and satisfied, and the principal of, premium, if any, and interest Interest on the Bonds shall no longer be deemed to computed on the basis of a 360-day year consisting of twelve 30-day months, payable on 15 and 15 of each year, commencing 15, 2017. The Bonds shall be outstanding and unpaid; provided, however, that nothing issued in this Indenture shall require the deposit of more than such amount as may be sufficient, taking into account both the principal amount of such funds amounts, shall bear interest at the rates per annum, and the interest to become due shall mature on the investment thereof, to implement any refunding of the Bonds.dates set forth below: Principal Maturity Interest

Authorization of Bonds. (a) 2013A In order to provide funds for the Loan, Bonds of the Authority in the aggregate series designated “Independent Cities Finance Authority Mobile Home Park Revenue Refunding Bonds (Rancho Vallecitos Mobile Estates), Series 2013” to be issued in the initial principal amount of $ and 2013B Bonds in (the aggregate principal amount of $ “Bonds”), are hereby authorized to be issued authorized. There is hereby created by the Successor Agency under and subject to the terms of this Indenture, in the Health manner and Safety Code to the extent provided herein, a continuing pledge and lien to secure the Actfull and final payment of the principal and Redemption Price of and interest on all of the Bonds issued pursuant to this Indenture. The Bonds shall be designated special obligations of the “Successor Agency Authority payable solely from the Trust Estate. No additional Bonds either on a senior, a parity or subordinate basis to the ▇▇▇▇▇▇ ▇▇▇▇ Redevelopment Agency, Refunding Revenue Bonds, Series 2013A” and the “Successor Agency to the ▇▇▇▇▇▇ ▇▇▇▇ Redevelopment Agency, Refunding Revenue Bonds, Series 2013B (Taxable),” respectively. This Indenture constitutes a continuing agreement with the Trustee for the benefit of the Owners of all of the Bonds of each Series hereunder and then Outstanding to secure the full payment of the principal of and interest or redemption premium (if any) on all Bonds which may from time to time shall be executed and delivered hereunder, subject to the covenants, agreements, provisions and conditions herein contained. In connection with the refunding of the Prior Bonds, Section 3.2 hereof provides for the deposit of a portion of the proceeds of the Bonds in the Escrow Fund, which together with other moneys held issued under the Prior this Indenture, will be used to refund the Prior Bonds and defease the Prior Indenture. Upon delivery of the Bonds hereunder, such sums are to be deposited and to be used as provided in this Indenture and the Escrow Agreement. (bi) The Bonds shall be and are special obligations dated as of the Successor Agency Closing Date. The Bonds shall bear interest at the rates set forth herein, shall be numbered in such manner as the Trustee may deem appropriate so long as each Bond of each series receives a distinctive number and are secured by an irrevocable pledge ofshall mature, subject to the right of prior redemption as described herein, and are become payable as to principal, interest and premium, if any, from Pledged Tax Revenues and other funds as hereinafter provided. Upon receipt by the Trustee in the then-current Bond Year of all amounts required to be deposited in the funds and accounts pursuant to this Indenture, any remaining Pledged Tax Revenues held by the County-Auditor Controller shall be released from the lien of this Indenture. The Bonds, interest and premium, if any, thereon are not a debt of the City, the County, the State or any of its political subdivisions (except the Successor Agency), and none of the City, the County, the State nor any of its political subdivisions (except the Successor Agency) is liable thereon. The Bonds, interest thereon and premium, if any, are not payable from any funds or properties other than those set forth in this Indenture. Neither the members of the Successor Agency Board, the Oversight Board, the County, the Board of Supervisors of the County nor any persons executing the Bonds is liable personally on the Bondsprovided herein. (aii) the payment of the Bonds from the proceeds of refunding bonds issued pursuant to this Indenture, the Health and Safety Code and the Act, as applicable, or (b) the payment of the Bonds from any legally available funds. The Successor Agency shall have the right to defease the Bonds and be discharged from the lien of this Indenture in accordance with the provision of Section 9.3 hereof. If the Successor Agency shall cause to be paid, or shall have made provision to pay upon maturity or upon redemption prior to maturity, to the Owners the principal of, premium, if any, and interest to become due on the Bonds, through setting aside trust funds or setting apart in a reserve fund or special trust account created pursuant to this Indenture or otherwise, or through the irrevocable segregation for that purpose in some sinking fund or other fund or trust account with a fiscal agent or otherwise, moneys sufficient therefor, including, but not limited to, interest earned or to be earned on the investment of such funds, then the lien of this Indenture, including, without limitation, the pledge of the Pledged Tax Revenues, and all other rights granted hereby, shall cease, terminate and become void and be discharged and satisfied, and the principal of, premium, if any, and interest Interest on the Bonds shall no longer be deemed to computed on the basis of a 360-day year consisting of twelve 30-day months, payable on May 15 and November 15 of each year, commencing November 15, 2013. The Bonds shall be outstanding and unpaid; provided, however, that nothing issued in this Indenture shall require the deposit of more than such amount as may be sufficient, taking into account both the principal amount of such funds amounts, shall bear interest at the rates per annum, and the interest to become due shall mature on the investment thereof, to implement any refunding of the Bonds.dates set forth below: Principal Amount Maturity Date

Authorization of Bonds. (a) 2013A In order to provide funds for the Loan, Bonds of the Authority in the aggregate series designated “Independent Cities Finance Authority Mobile Home Park Revenue Refunding Bonds (Palomar Estates East and West), Series 2015” to be issued in the initial principal amount of $ and 2013B Bonds in (the aggregate principal amount of $ “Bonds”), are hereby authorized to be issued authorized. The Bonds are payable on a parity basis from the Trust Estate. There is hereby created by the Successor Agency under and subject to the terms of this Indenture, in the Health manner and Safety Code to the extent provided herein, a continuing pledge and lien to secure the Actfull and final payment of the principal and Redemption Price of and interest on all of the Bonds issued pursuant to this Indenture. The Bonds shall be designated special obligations of the “Successor Agency Authority payable solely from the Trust Estate. No additional Bonds either on a senior, a parity or subordinate basis to the ▇▇▇▇▇▇ ▇▇▇▇ Redevelopment Agency, Refunding Revenue Bonds, Series 2013A” and the “Successor Agency to the ▇▇▇▇▇▇ ▇▇▇▇ Redevelopment Agency, Refunding Revenue Bonds, Series 2013B (Taxable),” respectively. This Indenture constitutes a continuing agreement with the Trustee for the benefit of the Owners of all of the Bonds of each Series hereunder and then Outstanding to secure the full payment of the principal of and interest or redemption premium (if any) on all Bonds which may from time to time shall be executed and delivered hereunder, subject to the covenants, agreements, provisions and conditions herein contained. In connection with the refunding of the Prior Bonds, Section 3.2 hereof provides for the deposit of a portion of the proceeds of the Bonds in the Escrow Fund, which together with other moneys held issued under the Prior this Indenture, will be used to refund the Prior Bonds and defease the Prior Indenture. Upon delivery of the Bonds hereunder, such sums are to be deposited and to be used as provided in this Indenture and the Escrow Agreement. (bi) The Bonds shall be and are special obligations dated as of the Successor Agency Closing Date. The Bonds shall bear interest at the rates set forth herein, shall be numbered in such manner as the Trustee may deem appropriate so long as each Bond of each series receives a distinctive number and are secured by an irrevocable pledge ofshall mature, subject to the right of prior redemption as described herein, and are become payable as to principal, interest and premium, if any, from Pledged Tax Revenues and other funds as hereinafter provided. Upon receipt by the Trustee in the then-current Bond Year of all amounts required to be deposited in the funds and accounts pursuant to this Indenture, any remaining Pledged Tax Revenues held by the County-Auditor Controller shall be released from the lien of this Indenture. The Bonds, interest and premium, if any, thereon are not a debt of the City, the County, the State or any of its political subdivisions (except the Successor Agency), and none of the City, the County, the State nor any of its political subdivisions (except the Successor Agency) is liable thereon. The Bonds, interest thereon and premium, if any, are not payable from any funds or properties other than those set forth in this Indenture. Neither the members of the Successor Agency Board, the Oversight Board, the County, the Board of Supervisors of the County nor any persons executing the Bonds is liable personally on the Bondsprovided herein. (aii) the payment of the Bonds from the proceeds of refunding bonds issued pursuant to this Indenture, the Health and Safety Code and the Act, as applicable, or (b) the payment of the Bonds from any legally available funds. The Successor Agency shall have the right to defease the Bonds and be discharged from the lien of this Indenture in accordance with the provision of Section 9.3 hereof. If the Successor Agency shall cause to be paid, or shall have made provision to pay upon maturity or upon redemption prior to maturity, to the Owners the principal of, premium, if any, and interest to become due on the Bonds, through setting aside trust funds or setting apart in a reserve fund or special trust account created pursuant to this Indenture or otherwise, or through the irrevocable segregation for that purpose in some sinking fund or other fund or trust account with a fiscal agent or otherwise, moneys sufficient therefor, including, but not limited to, interest earned or to be earned on the investment of such funds, then the lien of this Indenture, including, without limitation, the pledge of the Pledged Tax Revenues, and all other rights granted hereby, shall cease, terminate and become void and be discharged and satisfied, and the principal of, premium, if any, and interest Interest on the Bonds shall no longer be deemed to computed on the basis of a 360-day year consisting of twelve 30-day months, payable on 15 and 15 of each year, commencing , 2015. The Bonds shall be outstanding and unpaid; provided, however, that nothing issued in this Indenture shall require the deposit of more than such amount as may be sufficient, taking into account both the principal amount of such funds amounts, shall bear interest at the rates per annum, and the interest to become due shall mature on the investment thereof, to implement any refunding of the Bonds.dates set forth below: Principal Amount Maturity Date Interest Rate