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OTHER-2021-022 Trust Agreement
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OTHER-2021-022 Trust Agreement
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Last modified
8/27/2021 3:01:03 PM
Creation date
8/27/2021 2:57:43 PM
Metadata
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BOCC
Date
5/18/2021
Meeting Type
Business
Document Type
Others
Agenda Item
8-e
Document Relationships
Agenda - 05-18-2021; 8-e - Adoption of the Final Financing Resolution Authorizing the Issuance of Installment Purchase Financing for Various CIP Projects and To Refinance Existing County Obligations
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2021\Agenda - 05-18-2021 Virtual Business Meeting
Agenda for May 18, 2021 Board Meeting
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2021\Agenda - 05-18-2021 Virtual Business Meeting
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whether or not any requirement necessitates structural changes or improvements <br /> or interferes with the use or enjoyment of the Mortgaged Property (or be diligently <br /> and in good faith contesting such requirements). Unless required by applicable law <br /> or unless the Trustee has otherwise agreed in writing, the County must not use the <br /> Mortgaged Property for any purposes other than that for which the same were <br /> intended as of the Closing Date. In no event may the County use the Mortgaged <br /> Property or any part thereof, nor allow the same to be used for, any unlawful <br /> purpose or in violation of any certificate of occupancy or other permit or certificate, <br /> or any law, ordinance or regulation. <br /> Section 5.09. Use and Operation. (a) The County represents <br /> that the acquisition and construction of the improvements to the Pledged Facilities <br /> will be useful to the County in carrying out its required public functions. The County <br /> has an immediate need for the Pledged Facilities, and the County expects to use the <br /> Pledged Facilities throughout the Contract Term. <br /> (b) The County will be solely responsible for the operation of the Pledged <br /> Facilities and will not contract with any other person or entity for that operation. <br /> The Pledged Facilities will not be used in any private business or put to any private <br /> business use, except for such minor and occasional uses as may be consistent with <br /> their use as local government facilities and that will not cause the County to be in <br /> violation of its covenant as set forth in Section 6.01(k). The County will use and <br /> operate the Financed Facilities for their intended public purposes, and for no other <br /> purpose unless required by law. <br /> (b) Notwithstanding the provisions of subsections (a) and (b), the parties <br /> acknowledge that the County intends to lease a portion of the Pledged Facilities that <br /> constitute public school facilities (the "School Facilities") to the School Board, or may <br /> otherwise provide for the School Board's use and operation of those School <br /> Facilities. In addition, the County and the School Board may agree that the School <br /> Board will assume some of the County's responsibilities under this Agreement, <br /> including obligations with respect to maintaining primary casualty insurance on the <br /> School Facilities. Notwithstanding any other provision of this Agreement to the <br /> contrary, the parties agree that any such lease or other arrangements between the <br /> County and the School Board will not violate any provision of this Agreement. No <br /> such lease or other arrangement, however, will in any way reduce the County's <br /> responsibilities with respect to the School Facilities under this Agreement. <br /> 19 <br />
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