Laserfiche WebLink
• 12. 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. <br /> The obligation of the Authority and the Commission under this Agreement are and shall be <br /> subject to the following further conditions: . <br /> (a) At the Closing, the Bond Ordinance and the Tax Ordinance shall <br /> be in full force and effect and shall not have been amended, modified or <br /> supplemented after the date hereof except as may have been agreed to by the <br /> Authority and the Commission, and the Issuer shall have duly adopted and there <br /> shall be in full force and effect such other ordinances and resolutions as, in the <br /> opinion of Bond Counsel and the Commission, shall be necessary in connection <br /> with the transactions contemplated hereby. <br /> (b) The representations and warranties of the Issuer contained herein <br /> shall be true, complete and correct on the date hereof and on and as of the date of <br /> the Closing, as if made on and as of the date of the Closing. <br /> (c) At or prior to the Closing, the Commission and the Authority shall <br /> have received the following: <br /> (1) The Bond Ordinance and the Tax Ordinance; <br /> • certified by the Issuer under its seal.as having been duly.adopted <br /> and as being in full force and effect,with only such amendments as <br /> may have been agreed to by the Commission and the Authority; <br /> (2) An unqualified approving opinion, dated the date of <br /> the Closing, of Bond Counsel, in form and substance satisfactory <br /> to the Commission and the Authority,to the effect that: <br /> (i) the Issuer is duly created and validly <br /> existing as a city of the first class of the State of <br /> Arkansas, with the power to adopt the Bond <br /> Ordinance and the Tax Ordinance, perform the <br /> agreements on its part contained in the Bond <br /> Ordinance, and issue the Bond; <br /> (ii) the Bond has been duly authorized <br /> and issued by the Issuer and is a valid and binding <br /> special obligation of the Issuer enforceable in <br /> accordance with its terns; <br /> (iii) the Bond is secured by an irrevocable <br /> pledge of and lien on the Tax collections as <br /> • 8 <br />