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1998 Resolutions
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1998 Resolutions
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2/17/2009 8:43:13 AM
Creation date
6/8/2001 5:00:33 PM
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Ord/Resolutions
Year
1998
Ord/Resolutions - Type
Resolutions
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obligations under the CTA Agreement and to satisfy their financial obhgations as specifically set <br /> <br /> forth in said Agreement. <br /> <br /> 1.2 Conveyances by the City. The City agrees to convey any real property or interests <br /> <br /> therein it owns within the Project site to PRHA or the IDA, as may be required to ensure <br /> <br /> performance of the CTA Agreement. <br /> <br /> 1.3 Services bv the City. The City agrees to provide services or assistance to PRHA <br /> <br /> or the IDA, as required, in furtherance of their obligations under the CTA Agreement. <br /> <br /> 1.4 PRHA and the IDA to Perform their Obligations. With regard to the rights, duties <br /> <br /> and obligations of PRHA and the IDA under the CTA Agreement, PRHA and the IDA agree to <br /> <br /> fully enforce their rights, to faithfully perform their duties and obligations, and to keep the City <br /> <br /> periodically and fully informed as to their activities. <br /> <br /> 1.5 Reports to the City. PRHA or the IDA, as required, shall provide to the City, in <br /> <br /> form and substance and on a schedule acceptable to the City, reports on expenditures and <br /> <br /> progress with respect to undertaking and carrying out the responsibilities imposed by the CTA <br /> <br /> Agreement and shall on request provide to the City copies of all plans, studies, contracts and <br /> <br /> agreements in its possession related to said Agreement. <br /> <br /> 1.6 Funding of Authority Obligations. The performance by PRHA and the IDA of <br /> <br />their obligations under the CTA Agreement is dependent upon its receipt of proceeds from the <br /> <br />Project Bonds to be issued by the IDA and City funding, if required, in an amount sufficient to <br /> <br />enable them to carry out these obligations, including their reasonable administrative costs, with <br /> <br />respect to the Project. Accordingly, .the City will provide any additional funds that may be <br /> <br />required in excess of the Bond proceeds to enable PRHA and the IDA to carry out their <br /> <br /> <br /> <br /> <br />
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