Covenant to Foreclose. The Agency will covenant with CFD bondholders to foreclose the lien of delinquent Project Special Taxes consistent with the general practice for community facilities districts in California and otherwise as determined by the Agency in consultation with its underwriter or financial advisor for the CFD Bonds and other consultants, subject to applicable laws.
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Sources: Disposition and Development Agreement (Five Point Holdings, LLC), Financing Plan, Financing Plan
Covenant to Foreclose. The Agency Authority will covenant with CFD bondholders to foreclose the lien of delinquent Project Special Taxes consistent with the general practice for community facilities districts in California and otherwise as determined by the Agency Authority in consultation with its underwriter or financial advisor for the CFD Bonds indebtedness and other consultants, subject to applicable laws.
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