|
133
<br /> or other similar laws affecting the rights of creditors generally and the exercise of judicial
<br /> discretion in accordance with general principles of equity) and will be entitled to the
<br /> benefits of, and secured as provided in, the Trust Agreement.
<br /> (g) The County has complied, and will at the Closing be in compliance,
<br /> in all material respects, with the Approving Resolution, the Trust Agreement and the Act
<br /> and all other agreements relating to projects undertaken by the County or with respect to
<br /> which the County has assumed responsibility.
<br /> (h) There is no action, suit, proceeding, inquiry or investigation, at law or
<br /> in equity, before or by any court, public board or body, pending or, to the knowledge of
<br /> the County,threatened against or affecting the County(or,to the knowledge of the County,
<br /> any meritorious basis therefor) (i) attempting to limit, enjoin or otherwise restrict or
<br /> prevent the County from functioning or contesting or questioning the existence of the
<br /> County or the titles of the present officers of the County to their offices or (ii) wherein an
<br /> unfavorable decision, ruling or finding would(A) adversely affect the existence or powers
<br /> of the County or the validity or enforceability of the Bonds, the Approving Resolution, the
<br /> Trust Agreement, this Bond Purchase Agreement, the Modified Deed of Trust or any
<br /> agreement or instrument to which the County is a party and which is used or contemplated
<br /> for use in the consummation of the transactions contemplated hereby including, without
<br /> limitation, the County Documents and the Official Statement; or (B) materially adversely
<br /> affect (1) the transactions contemplated by the County Documents or the Official
<br /> Statement, or (2) the exemption of the interest on the Bonds from federal or State income
<br /> taxation.
<br /> (i) The County's adoption of the Approving Resolution,its execution and
<br /> delivery of the County Documents and the Bonds, and compliance with the provisions
<br /> thereof and hereof, do not and will not conflict with or constitute, on the County's part, a
<br /> violation of, breach of or default under any material statute, existing law, administrative
<br /> regulation, filing, decree or order, state or federal, or any provision of the Constitution or
<br /> laws of the State, or any rule or regulation of the County, or any material indenture,
<br /> mortgage, lease, deed of trust, note, resolution, or other agreement or instrument to which
<br /> the County, or its properties, are subject or by which the County, or its properties, are or
<br /> may be bound or, to the knowledge of the County, any order, rule or regulation of any
<br /> regulatory body or court having jurisdiction over the County or its activities or properties.
<br /> 0) The County is not in default in the payment of the principal of or
<br /> interest on any of its indebtedness for borrowed money and is not in default in any material
<br /> respect under any document or instrument under and subject to which any indebtedness for
<br /> borrowed money has been incurred which default would affect materially and adversely
<br /> the transactions contemplated by any of the County Documents. No event has occurred or
<br /> is continuing under the provisions of any such document or instrument that, with the lapse
<br /> of time or the giving of notice, or both, would constitute an event of default thereunder,
<br /> -7-
<br />
|