Common use of Local Obligations Clause in Contracts

Local Obligations. Upon the terms and conditions and upon the basis of representations, warranties, and agreements hereinafter set forth: (i) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 (Improvement Area No. 7A1) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 7A1 Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 7A1 Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), (ii) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 (Improvement Area No. 19A) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 19A Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 19A Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), (iii) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 (Improvement Area No. 18) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 18 Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 18 Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), (iv) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 (Improvement Area No. 16) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 16 Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 16 Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), and (v) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 (Improvement Area No. 8B) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 8B Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 8B Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ). The Improvement Area No. 7A1 Special Tax Refunding Bonds, the Improvement Area No. 19A Special Tax Refunding Bonds, the Improvement Area No. 18 Special Tax Refunding Bonds, the Improvement Area No. 16 Special Tax Refunding Bonds and the Improvement Area No. 8B Special Tax Refunding Bonds are collectively referred to herein as the “Local Obligations.” Each of the Local Obligations shall be dated the Closing Date and shall have the maturities and bear interest at the rates per annum as set forth in Appendices A-2 and A-3, respectively, attached hereto. Payment for and delivery of the Bonds and the Local Obligations, and the other actions contemplated hereby, shall take place on [Closing Date], or such other date as may be agreed to between the Authority and the Underwriter (the “Closing Date”). The agreement of the Underwriter to purchase the Bonds is contingent upon the Authority purchasing from the District all of the Local Obligations and the Authority and the District satisfying all of their respective obligations hereunder.

Local Obligations. Upon the terms and conditions and upon the basis of representations, warranties, and agreements hereinafter set forth: (i) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 Special Tax Refunding Bonds 2021 Series A (Improvement Area No. 7A17B) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 7A1 7B Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 7A1 7B Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), (ii) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 Special Tax Refunding Bonds 2021 Series A (Improvement Area No. 19A7C) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 19A 7C Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 19A 7C Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), (iii) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 Special Tax Refunding Bonds 2021 Series A (Improvement Area No. 1817A) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 18 17A Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 18 17A Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), (iv) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 Special Tax Refunding Bonds 2021 Series A (Improvement Area No. 1619C) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 16 19C Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 16 19C Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), and (v) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 Special Tax Refunding Bonds 2021 Series A (Improvement Area No. 8B20) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 8B 20 Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 8B 20 Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ). The Improvement Area No. 7A1 7B Special Tax Refunding Bonds, the Improvement Area No. 19A 7C Special Tax Refunding Bonds, the Improvement Area No. 18 17A Special Tax Refunding Bonds, the Improvement Area No. 16 19C Special Tax Refunding Bonds and the Improvement Area No. 8B 20 Special Tax Refunding Bonds are collectively referred to herein as the “Local Obligations.” Each of the Local Obligations shall be dated the Closing Date and shall have the maturities and bear interest at the rates per annum as set forth in Appendices A-2 and A-3, respectively, attached hereto. Payment for and delivery of the Bonds and the Local Obligations, and the other actions contemplated hereby, shall take place on [Closing Date], 2021, or such other date as may be agreed to between the Authority and the Underwriter (the “Closing Date”). The agreement of the Underwriter to purchase the Bonds is contingent upon the Authority purchasing from the District all of the Local Obligations and the Authority and the District satisfying all of their respective obligations hereunder.

Local Obligations. Upon the terms and conditions and upon the basis of representations, warranties, and agreements hereinafter set forth: (i) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 (Improvement Area No. 7A18C) 2025 2020 Special Tax Refunding Bonds (the “Improvement Area No. 7A1 8C Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 7A1 8C Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ),, and (ii) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 (Improvement Area No. 19A17B) 2025 2020 Special Tax Refunding Bonds (the “Improvement Area No. 19A 17B Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 19A 17B Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), (iii) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 (Improvement Area No. 18) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 18 Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 18 Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), (iv) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 (Improvement Area No. 16) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 16 Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 16 Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ), and (v) the Authority hereby agrees to purchase from the District and the District agrees to sell to the Authority all (but not less than all) of $ aggregate principal amount of the City of Beaumont Community Facilities District No. 93-1 (Improvement Area No. 8B) 2025 Special Tax Refunding Bonds (the “Improvement Area No. 8B Special Tax Refunding Bonds”), at an aggregate purchase price of $ (constituting the aggregate principal amount of the Improvement Area No. 8B Special Tax Refunding Bonds, less an original issue discount of $ and less a purchase discount of $ ). The Improvement Area No. 7A1 Special Tax Refunding Bonds, the Improvement Area No. 19A Special Tax Refunding Bonds, the Improvement Area No. 18 Special Tax Refunding Bonds, the Improvement Area No. 16 8C Special Tax Refunding Bonds and the Improvement Area No. 8B 17B Special Tax Refunding Bonds are collectively referred to herein as the “Local Obligations.” Each of the Local Obligations shall be dated the Closing Date and shall have the maturities and bear interest at the rates per annum as set forth in Appendices A-2 and A-3, respectively, attached hereto. Payment for and delivery of the Bonds and the Local Obligations, and the other actions contemplated hereby, shall take place on [Closing Date], 2020, or such other date as may be agreed to between the Authority and the Underwriter (the “Closing Date”). The agreement of the Underwriter to purchase the Bonds is contingent upon the Authority purchasing from the District all of the Local Obligations and the Authority Authority, the City, and the District satisfying all of their respective obligations hereunder.