Reso 2010-1538 - Laserfiche WebLink

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"Mayor" means the Mayor of the City and such other person as may be authorized to act on his or her behalf. "Non-Ad Valorem Revenues" means all revenues of the City derived from any source other than ad valorem taxation on real or personal property and which are legally available to make the payments required under this Agreement; but only after the payment of services and programs which are for essential public purposes affecting the health, welfare and safety of the inhabitants of the City or which are legally mandated by applicable law. "Person" means natural persons, firms, trusts, estates, associations, corporations, partnerships and public bodies. "State" means the State of Florida. "Supplemental Ordinance" means any ordinance or resolution of the City amending or supplementing the Bond Ordinance in accordance with the terms and provisions thereof. Section 1.2 Interpretation. Unless the context clearly requires otherwise, words of masculine gender shall be construed to include correlative words of the feminine and neuter genders and vice versa, and words of the singular number shall be construed to include correlative words of the plural number and vice versa. This Agreement and all the terms and provisions hereof shall be construed to effectuate the purposes set forth herein and to sustain the validity hereof. Section 1.3 Titles and Headine:s. The titles and headings of the articles and sections of this Agreement have been inserted for convenience of reference only and are not to be considered a part hereof, shall not in any way modify or restrict any of the terms and provisions hereof, and shall not be considered or given any effect in construing this Agreement or any provision hereof or in ascertaining intent, if any question of intent should arise. ARTICLE II REPRESENTATIONS OF CITY The City represents and warrants to the Bank that: Section 2.1 Powers of City. The City is duly organized and validly existing as a municipal corporation under the laws of the State. The City has the power to borrow the amount provided for in this Agreement, to execute and deliver the Loan Documents, to secure the Bonds in the manner contemplated hereby, and to perform and observe all the terms and conditions of the Bonds and this Agreement on its part to be performed and observed. The City may lawfully issue the Bonds in order to obtain funds to finance the Project. Section 2.2 Authorization of Loan. The City has, had or will have, as the case may be, full legal right, power, and authority to adopt the Bond Ordinance and to execute and deliver this Agreement, to issue, sell, and deliver the Bonds to the Bank, and to carry out and consummate all other transactions contemplated hereby and by the Loan Documents, and the {MI883440_2} 3