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Finance Highlights 2011 0909
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Finance Highlights 2011 0909
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9/13/2011 5:38:30 PM
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9/13/2011 5:37:30 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Committee Highlights
Document Date (6)
9/9/2011
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_CC Agenda 2011 0919
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\City Clerk\City Council\Agenda Packets\2011\Packet 2011 0919
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receive interest on any moneys advanced by it hereunder, at the maximum rate <br />permitted by law. <br />(f) The Trustee may establish additional accounts or subaccounts of the funds <br />established hereunder as the Trustee deems necessary or prudent in furtherance of its <br />duties under this Indenture. <br />(g) The Trustee has no responsibility or liability whatsoever with respect to any <br />information, statement, or recital in any official statement, offering memorandum or any <br />other disclosure material prepared or distributed with respect to the Bonds, nor shall the <br />Trustee have any obligation to review any such material, and any such review by the <br />Trustee will not be deemed to create any obligation, duty or liability on the part of the <br />Trustee. <br />(h) Before taking any action under Article VIII hereof the Trustee may require <br />indemnity satisfactory to the Trustee be furnished to it to hold the Trustee harmless from <br />any expenses whatsoever and to protect it against any liability it may incur hereunder. <br />(i) The immunities extended to the Trustee also extend to its directors, <br />officers, employees and agents. <br />Q) The permissive right of the Trustee to do things enumerated in this <br />Indenture shall not be construed as a duty. <br />(k) The Trustee may execute any of the trusts or powers hereof and perform <br />any of its duties through attorneys, agents and receivers and shall not be answerable for <br />the conduct of the same if appointed by it with reasonable care. <br />SECTION 6.04. Right to Rely on Documents. The Trustee is protected in acting <br />upon any notice, resolution, requisition, request, consent, order, certificate, report, <br />opinion or other paper or document believed by it to be genuine and to have been <br />signed or presented by the proper party or parties. The Trustee may consult with <br />counsel, including, without limitation, Bond Counsel or other counsel of or to the City, <br />with regard to legal questions, and the opinion of such counsel shall be full and <br />complete authorization and protection in respect of any action taken or suffered by the <br />Trustee hereunder in accordance therewith. <br />The Trustee is not bound to recognize any person as the Owner of a Bond <br />unless and until such Bond is submitted for inspection, if required, and such person's <br />title thereto is established to the satisfaction of the Trustee. <br />Whenever in the administration of the trusts imposed upon it by this Indenture <br />the Trustee deems it necessary or desirable that a matter be proved or established prior <br />to taking or suffering any action hereunder, such matter (unless other evidence in <br />respect thereof be herein specifically prescribed) may be deemed to be conclusively <br />proved and established by a Certificate of the City, which shall be full warrant to the <br />Trustee for any action taken or suffered in good faith under the provisions of this <br />Indenture in reliance upon such Certificate, but in its discretion the Trustee may (but has <br />no duty to), in lieu thereof, accept other evidence of such matter or may require such <br />additional evidence as to it may deem reasonable. The Trustee may conclusively rely <br />on any certificate or report of any Independent Accountant appointed by the City. <br />18 <br />
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