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Agenda - 04-19-2016 - 7-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $8,150,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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Agenda - 04-19-2016 - 7-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $8,150,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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4/15/2016 9:26:09 AM
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BOCC
Date
4/19/2016
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
7a
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RES-2016-032 Resolution providing final approval of terms and documents for 2016 County installment financing
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\Board of County Commissioners\Resolutions\2010-2019\2016
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56 <br /> condition to the School Board's entering into this Lease. The School Board further <br /> covenants and warrants that prior to the use of the new auxiliary gymnasium, the School <br /> Board will obtain, and will thereafter maintain through the duration of this Lease, all <br /> further permits, consents, approval or authorizations of all governmental entities and <br /> regulatory bodies necessary to operate it. <br /> ARTICLE IX <br /> TITLE TO LEASED PROPERTY <br /> Except for personal property purchased by the School Board at its own expense, <br /> title to the Leased Property and any and all additions and modifications to or replacements <br /> of any portion of the Leased Property will be held in the County's name, subject only to <br /> Permitted Encumbrances, until foreclosed upon or conveyed as provided in the Financing <br /> Contract or the Deed of Trust, notwithstanding (a) the occurrence of one or more events of <br /> default as defined in Financing Contract Section 10.1; (b) the occurrence of any event of <br /> damage, destruction, condemnation or construction or title defect; or (c) the County's <br /> violation of any provision of this Lease. <br /> The School Board has no right, title or interest in the Leased Property or any <br /> additions and modifications to or replacements of any portion of the Leased Property, <br /> except as expressly set forth in this Lease, or the deed by which the School Board <br /> conveyed title to the Leased Property to the County. <br /> ARTICLE X <br /> SUBLEASING,ASSIGNMENT,AND INDEMNIFICATION <br /> 10.1. School Board's Subleasing and Assignment. (a) Except as provided in <br /> subsection (b), the School Board may not sublease the Leased Property, in whole or in part, <br /> enter into other agreements for the use of any part of the Leased Property or assign any of <br /> its rights or obligations under this Lease, without the County's prior written consent. <br /> (b) The School Board may enter into agreements for the use of portions of the <br /> Leased Property with state and local (but not federal) government entities, and may allow <br /> for the occasional use of portions of the Leased Property by federal or non-government <br /> entities, in each case without the necessity of obtaining the County's prior consent. The <br /> School Board must certify to the County, by September 15 of each year, that the total use <br /> of the Leased Property by entities other than the School Board did not exceed 8% of the <br /> total use of the Leased Property for the Fiscal Year that ended the prior June 30. The <br /> School Board shall provide the County with such additional information as the County may <br /> request to document compliance with the County's covenants under the Financing Contract <br /> 8 <br />
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