R-1988-13 - Laserfiche WebLink

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eJ e) ance of the Bonds shall not occur until arbi tration, if any, is concluded. Section 3.04 Promptly after the City and La Porte approve the proposed Bond Resolution, the Authority shall proceed with the preparation of such data, materials and documents as may be necessary in the opinion of its financial advisor to facilitate the sale and delivery of the Bonds, and the Ci ty agrees promptly to furnish the Aut.hori ty wi th all such financial information and other data as may reasonably be requ i red by the .b,u thori ty in the sale of the Bonds in compliance wi th all appl icable laws, rules and regulat ions: prov ided, however, that no representation, covenant or warranty of the Ci ty, except as contained in this Contract, shall be included by the Authority in any sales documents in connection with the sale of the Bonds without the approval of the City. Following the sale and delivery of the Bonds, the .b,uthority shall "furnish the City ",'ith a debt service schedule sh:)wing the amounts required to pay all interest on and principal of the Bonds as the same shall become due and payable. Section 3.05 All Bonds shall be authorized, executed, issued, sold and delivered in su~stantial compliance with the provisions of the Act, including v;ithout limitation Section 13 thereof, and the Texas Bond Procedures Act of 1981, as supplemented and amended. The proceeds of sale of the Bonds, after deducting the costs of issuance and funding any debt service, reserve, contingency, escrow or other funds which are required by the Bond Resolution to be funded from such proceeds, shall be deposited into the special construction fund provided for in the Bond Resolution and used to pay the costs of acquisition, purchase and construction of the Authori ty' s share of the Southeast Plant, the Transmission System and the Distribution System. -13-