ExploreUK is getting a new design. Try the beta site!


ExploreUK home

0-9 | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

[399] > Image [399] of Minutes of the University of Kentucky Board of Trustees, 1986-05-jun25.

Part of Minutes of the University of Kentucky Board of Trustees

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 following: 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 -5-