the Issuer or a facsimile thereof shall be impressed, imprinted or otherwise
reproduced thereon and attested to by the manual or facsimile signature of its
Secretary. In case any officer whose signature shall appear on the Bonds shall
cease to be such officer before the delivery of such Series A Bonds, such
signature shall nevertheless be valid and sufficient for all purposes, the same
as if such officer had remained in office until delivery.
The Series A Bonds shall not be general obligations of Issuer but
limited obligations payable solely from the amounts pledged therefor by the
Master Resolution. Neither Issuer, the Commonwealth, nor any other political
subdivision of the Commonwealth shall be obligated to pay the principal of such
Bonds or the interest thereon or other costs incident thereto except from the
moneys pledged therefor. Neither the faith and credit nor the taxing power of
Issuer, the Commonwealth, or any political subdivision of the Commonwealth is
pledged to the payment of the principal of, premium, if any, or interest on the
Bonds or other costs incident thereto.
Section 2.06. Authentication.
No Bond shall be valid or obligatory for any purpose or entitled to
any security or benefit under this Series A Resolution or the Master Resolution
unless and until a certificate of authentication on such Bond shall have been
duly executed by Trustee, and such executed certificate of Trustee upon any
such Bond shall be conclusive evidence that such Bond has been authenticated
and delivered under this Series A Resolution and the Master Resolution.
Section 2.07. Delivery of Bonds and Bond Proceeds.
At any time on and subsequent to the execution and delivery of this
Series A Resolution to the Trustee, Issuer may execute and deliver to Trustee
and Trustee shall authenticate the Series A Bonds and deliver them to the
purchaser as the Issuer may direct upon the filing with the Trustee of the
A copy, duly certified by the Secretary of the Issuer, of the
Series A Resolution authorizing the issuance of the Series A Bonds.
A request and authorization to Trustee on behalf of Issuer to
authenticate and deliver the Series A Bonds to the purchasers therein
identified upon payment to Trustee, but for the account of Issuer, of a sum
specified in such request and authorization.
A certificate from a Consultant that the Net Revenues are sufficient
to produce Income Available for Debt Service of not less than 110% of Principal
and Interest Requirements.
The approving opinion, dated as of the closing time, of Bond
Counsel, stating, among other things, that the Series A Bonds are valid and
legally binding obligations of the Issuer, enforceable in accordance with their
terms and the terms of the Series A Resolution and the Master Resolution,
secured in the manner provided in the Series A Resolution and the Master