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10B Action 2009 1221
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10B Action 2009 1221
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Last modified
12/17/2009 10:13:45 AM
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12/17/2009 10:13:36 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
12/21/2009
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_CC Agenda 2009 1221
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2009\Packet 2009 1221
RDA Reso 2009-024
(Reference)
Path:
\City Clerk\City Council\Resolutions\2009
Reso 2009-170
(Reference)
Path:
\City Clerk\City Council\Resolutions\2009
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the observance or performance by the Agency of the other conditions, covenants and <br />terms contained in this Indenture, or with respect to the investment of any moneys in <br />any fund or account established, held or maintained by the Agency pursuant to this <br />Indenture or otherwise. <br />(g) No provision of this Indenture shall require the Trustee to expend or risk <br />its own funds or otherwise incur any financial liability in the performance of any of its <br />duties hereunder, or in the exercise of any of its rights or powers. The Trustee shall be <br />entitled to interest on all amounts advanced by it at the maximum rate permitted by law. <br />(h) The Trustee may execute any of the trusts or powers hereunder or <br />perform any duties hereunder either directly or by or through agents, attorneys or <br />receivers and the Trustee shall not be responsible for any intentional misconduct or <br />negligence on the part of any agent, attorney or receiver appointed with due care by it <br />hereunder. <br />(i) The Trustee shall have no responsibility, opinion, or liability with respect <br />to any information, statements or recital in any offering memorandum or other disclosure <br />material prepared or distributed with respect to the issuance of the Bonds. <br />(j) Before taking any action under Article VIII or this Article at the request of <br />the Owners, the Trustee may require that a satisfactory indemnity bond be furnished by <br />the Owners for the reimbursement of all expenses to which it may be put and to protect <br />it against all liability, except liability which is adjudicated to have resulted from its <br />negligence or willful misconduct in connection with any action so taken <br />Section 6.03. Right to Rely on Documents and Opinions. The Trustee shall have no <br />liability in acting upon any notice, resolution, request, consent, order, certificate, report, opinion, <br />facsimile transmission, electronic mail, or other paper or document reasonably believed by it to <br />be genuine and to have been signed or prescribed by the proper party or parties, and shall not <br />be required to make any investigation into the facts or matters contained thereon. The Trustee <br />may consult with counsel, including, without limitation, counsel of or to the Agency, with regard <br />to legal questions, and, in the absence of negligence or intentional misconduct by the Trustee, <br />the opinion of such counsel shall be full and complete authorization and protection in respect of <br />any action taken or suffered by the Trustee hereunder in accordance therewith. <br />The Trustee shall not be bound to recognize any person as the Owner of a Bond unless <br />and until such Bond is submitted for inspection, if required, and his title thereto is established to <br />the satisfaction of the Trustee. <br />Whenever in the administration of the trusts imposed upon it by this Indenture the <br />Trustee shall deem it necessary or desirable that a matter be proved or established prior to <br />taking or suffering any action hereunder, such matter (unless other evidence in respect thereof <br />be herein specifically prescribed) may be deemed to be conclusively proved and established by <br />a Written Certificate of the Agency, which shall be full warrant to the Trustee for any action <br />taken or suffered under the provisions of this Indenture in reliance upon such Written <br />Certificate, but in its discretion the Trustee may, in lieu thereof, accept other evidence of such <br />matter or may require such additional evidence as to it may deem reasonable. The Trustee <br />may conclusively rely on any certificate or report of any Independent Accountant or <br />Independent Redevelopment Consultant appointed by the Agency. <br />34 <br />
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