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RES 94045A
City of Pleasanton
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RES 94045A
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4/13/2012 4:17:17 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
4/19/1994
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Section 513. Tax Matters. <br />In order to maintain [he exclusion from gross income for federal income tax <br />purposes of the portion of Lease Payments designated as and comprising interest with respect <br />to the Bonds, the City covenants to comply with each applicable requirement of Section 103 <br />and Sections 141 through 150 of the Code. In furtherance of this covenant, the City agrees to <br />comply with the covenants contained in, and the instructions given pursuant to, the <br />Nonarbitrage Certificate provided to the City by Nossaman, Guthner, Knox & Elliott as a <br />source of guidance for compliance with such provisions. <br />Notwithstanding any other provision of this Lease Agreement to the contrary, <br />upon the City's failure to observe, or refusal to comply with, [he foregoing covenant, no <br />person other than [he Trustee or the Owners of the Bonds shall be entitled to exercise any <br />right or remedy provided to the above Owners under this Lease Agreement or the Trust <br />Agreement on the basis of the City's failure to observe, or refusal to comply with, the <br />covenant. <br />ARTICLE VI <br />DISCLAIMER OF WARRANTIES; ACCESS <br />Section 601. Disclaimer of Warranties. <br />THE AUTHORITY MAKES NO WARRANTY OR REPRESENTATTON, <br />EITHER EXPRESS OR IMPLIED, AS TO THE VALUE, DESIGN, CONDITION, <br />MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR FITNESS <br />FOR THE USE CONTEMPLATED BY THE CITY OF THE PROJECT OR ANY ITEM <br />THEREOF, OR ANY OTHER REPRESENTATION OR WARRANTY WITH RESPECT <br />TO THE SITE OR THE PROJECT OR ANY ITEM THEREOF. IN NO EVENT SHALL <br />THE AUTHORTTY BE LIABLE FOR INCIDENTAL, INDIRECT, SPECIAL OR <br />CONSEQUENTIAL DAMAGES, IN CONNECTION WITH OR ARISING OUT OF THE <br />LEASE AGREEMENT, FOR THE EXISTENCE, FURNISHING, FUNCTIONING OR <br />THE CITY'S USE OF THE PROJECT. <br />Section 602. City's Right to Enforce Warranties. <br />The City shall have all rights with respect to the warranties, if any, of the <br />Contractors with respect to the Project, and the right to enforce such warranties against the <br />Contractors. If the Authority is ever required or requested by the City to enforce any warranty <br />with respect to the Project on behalf of the City, the City shall reimburse the Authority for any <br />costs incurred by the Authority in the enforcement of such warranty, including reasonable <br />attorneys' fees. <br />15 <br />9ao7sotu.Lnt <br />
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