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(f) The reporting requirements set forth in this Agreement are in addition to <br /> any financial reporting requirements set forth in the Bond Ordinance. <br /> 13. The Authority and the Commission have entered into this Agreement in <br /> reliance upon the representations and agreements of the Issuer herein and the performance by the <br /> Issuer of its obligations hereunder,both as of the date hereof and as of the date of the Closing. The <br /> obligation of the Authority and the Commission under this Agreement are and shall be subject to <br /> the following further conditions: <br /> (a) At the Closing,the Bond Ordinance and the Tax Ordinance shall be in full <br /> force and effect and shall not have been amended,modified,or supplemented after the date hereof <br /> except as may have been agreed to by the Authority and the Commission,and the Issuer shall have <br /> duly adopted and there shall be in full force and effect such other ordinances and resolutions as,in <br /> the opinion of Bond Counsel and the Commission, shall be necessary in connection with the <br /> transactions contemplated hereby. <br /> (b) The representations and warranties of the Issuer contained herein shall be <br /> true,complete,and correct on the date hereof and on and as of the date of the Closing,as if made <br /> on and as of the date of the Closing. <br /> (c) At or prior to the Closing,the Commission and the Authority shall have <br /> received the following: <br /> (1) The Bond Ordinance and the Tax Ordinance,certified by the Issuer <br /> under its seal as having been duly adopted and as being in full force and effect,with <br /> only such amendments as may have been agreed to by the Commission and the <br /> Authority; <br /> (2) An unqualified approving opinion,dated the date of the Closing,of <br /> Bond Counsel, in form and substance satisfactory to the Commission and the <br /> Authority,to the effect that: <br /> (i) the Issuer is duly created and validly existing as a city of the <br /> first class of the State of Arkansas, with the power to adopt the Bond <br /> Ordinance and the Tax Ordinance, perform the agreements on its part <br /> contained in the Bond Ordinance,and issue the Bond; <br /> (ii) the Bond has been duly authorized and issued by the Issuer <br /> and is a valid and binding special obligation of the Issuer enforceable in <br /> accordance with its terms; <br /> (iii) the Bond is secured by an irrevocable pledge of and lien on <br /> the Tax collections as provided in the Bond Ordinance, which pledge is <br /> valid and enforceable;and <br /> (iv) the interest on the Bond is exempt from all Arkansas state, <br /> county,and municipal taxes; <br /> 8 <br />