5.2b ERMUSR 04-13-2021 - Laserfiche WebLink

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TEMPLATE RESOLUTION funds,net of amounts deposited in the Debt ServiceAccount andthe Reserve Account, as provided in Section 9hereof. Moneys on deposit in the Project Accountmay be disbursed by the Commission to pay costs of issuance of the Series 2021BBonds and costs ofthe Project. Pending such disbursement, moneys on deposit in the Project Accountmay be invested in Government Obligations maturing or subject to redemption at the option of the holder thereof not laterthan the date on which such moneys are expectedto be needed. Section 14.Amendments. The provisions of this Resolution shall constitute a contract between the City, the Commission and the Holders of the Outstanding Bonds and after the issuance of any of the Series2021BBonds, no change, variation or alteration of any kind in the provisions of this Resolution shall be made in any manner, except as herein provided, until such time as all of the Series 2021BBonds and interest thereon have been paid in full. However, the Holders of a majority in principal amountof the Outstanding Bonds shall have the right to consent to, andapprove the adoption of resolutions or other proceedings modifying or amending any of the terms or provisions containedin this Resolution, except that without the consent of 100%of the Holders of Outstanding Bonds this Resolution shall not be modified or amended in any manner that may adversely affect the rights of any Holders of the Outstanding Bonds or reduce the percentage of the number of Holders whose consent is required to effect a further modification. Section 15.Electronic Signatures.The electronic signature of the President and Secretary, on behalf of the Commission, and the Mayor and City Clerk, on behalf of the City,tothis resolution and to any certificate authorized to be executed hereunder shall be as valid as an original signature of such party and shall be effective to bind the Commission andthe City, as applicable, thereto. signature that is then transmitted by electronic means or (b) a signature obtained through DocuSign or Adobe or a similarly digitally auditable signature ga electronic s a portable document formaattached to an electronic mail or internet message. Section 16.Defeasance. When any Series 2021BBond has been discharged as provided in this section, all pledges, covenantsand other rights granted by this Resolution to the Holder of such Series 2021B Bond shall cease, and such Series 2021B Bond shall no longer be deemed to be Outstanding under this Resolution. The obligations with respect to any Series 2021BBond which is due on any date may be discharged by depositing with the Registrar on or before that date a sum sufficient for the payment thereof in full; or, if any Series 2021BBond should not be paid when due, it may nevertheless be discharged by depositing with the Registrar a sum sufficient forthe payment thereof in full with interest accrued to the date of such deposit. The obligations with respect to any Series 2021BBond which is subject to redemption according to its terms may also be discharged by depositing with the Registrar on or before that date an amount equal to the principal, interest and redemption premium, if any, which will then be due, provided that notice of such redemption has been duly given or provided for. The obligations with respect to any Series 2021BBonds may also be discharged at any time, subject to the provisions of law now or hereafter authorizing and regulating such action, by depositing irrevocably in escrow, with the Registrar or any bank qualified by law as an escrow agent for this purpose, cash or Government Obligations which are authorized by law to be so deposited, 18 EL185-68-707442.v2 404