O-1979-768-B - Laserfiche WebLink

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, I I . e Section 13. The District hereby covenants with the purchaser and any subsequent holders of the Bonds that the District will not make any use of the proceeds of the Bonds which will cause the Bonds to be or become arbitrage bonds within the meaning of section l03(c) of the Internal Revenue Code of 1954, as amended, or any regulations promul- gated thereunder, and that the District will otherwise comply with the pertinent provisions of said section l03(c) and regulations in order that the Bonds will not be made or become arbitrage bonds thereunder. section 14. The President of the Board of Direc- tors of the District is hereby authorized and directed to submit, or cause to be submitted, the record of the. Bonds, and the Bonds, to the Attorney General of the State of Texas for examination and approval and thereafter cause the Bonds to be registered by the Comptroller of Public Accounts of the State of Texas. Upon said registration of the Bonds, said Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually sign the Comptroller's Registration Certificate prescribed herein to be" printed and endorsed on each Bond, and the seal of said Comptrol1er shall be impressed or printed, or litho- graphed on each of the Bonds. The President and Secretary of the Board of Trustees and other appropriate officers of the District are hereby further authorized and directed to do any and all things necessary and/or convenient to carry out the provisions of this Order. Section 15. The Bonds shall be sold and delivered to the Texas Water Development Board (hereinafter called the "Development Board") at a price equal to the aggregate principal amount of the Bonds, and accrued interest to the date of delivery, pIus a premium of $1,288.27, and otherwise in accordance with the terms and conditions of the Develop- . ment Board's grant of financial assistance to the District -14-