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Title: |
Trust Indenture |
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Date: |
2008 |
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Preview shows 33KB of 166KB total |
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$51 |
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ID: |
#3290269 |
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TRUST INDENTURE
between
DEVELOPMENT AUTHORITY OF FULTON COUNTY
and
SUNTRUST BANK
as Trustee
Dated as of December 1, 2002
Authorizing the Issuance of
$40,000,000 in Aggregate Principal Amount of
Development Authority of Fulton County
Taxable Economic Development Revenue Bonds
(ADESA Atlanta, LLC Project)
Series 2002
TABLE OF CONTENTS
| Page | ||||
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ARTICLE I DEFINITIONS |
8 | |||
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Section 1.01 |
Definitions | 8 | ||
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Section 1.02 |
Miscellaneous Use of Words | 13 | ||
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ARTICLE II THE BONDS |
13 | |||
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Section 2.01 |
Authorized Amount of Bonds | 13 | ||
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Section 2.02 |
Issuance of 2002 Bonds | 13 | ||
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Section 2.03 |
Execution; Limited Obligation | 16 | ||
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Section 2.04 |
Authentication | 16 | ||
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Section 2.05 |
Form of Bonds | 17 | ||
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Section 2.06 |
Mutilated, Lost, Stolen or Destroyed Bonds | 17 | ||
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Section 2.07 |
Registration and Exchange of Bonds | 18 | ||
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Section 2.08 |
Issuance of Additional Bonds | 19 | ||
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Section 2.09 |
Payment of 2002 Bonds in Installments | 21 | ||
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ARTICLE III REDEMPTION OF 2002 BONDS BEFORE MATURITY |
21 | |||
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Section 3.01 |
Optional Redemption | 21 | ||
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Section 3.02 |
[Intentionally Omitted] | 21 | ||
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Section 3.03 |
Notice of Redemption | 21 | ||
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Section 3.04 |
Redemption Payments | 22 | ||
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Section 3.05 |
Principal and Redemption Payment Credits | 22 | ||
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Section 3.06 |
Partial Redemption | 22 | ||
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Section 3.07 |
Cancellation | 23 | ||
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ARTICLE IV GENERAL COVENANTS |
23 | |||
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Section 4.01 |
Payment of Principal and Interest | 23 | ||
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Section 4.02 |
Performance of Covenants by Issuer | 23 | ||
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Section 4.03 |
Ownership; Instruments of Further Assurance | 24 | ||
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Section 4.04 |
Payment of Taxes and Related Charges | 24 | ||
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Section 4.05 |
Maintenance and Repair | 24 | ||
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Section 4.06 |
Recordation of the Financing Statement | 24 | ||
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Section 4.07 |
Inspection of Project Books | 24 | ||
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Section 4.08 |
Priority of Pledge | 25 | ||
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Section 4.09 |
Rights Under Lease and Bond Purchase Agreement | 25 | ||
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Section 4.10 |
Payment for Extraordinary Expenses | 25 | ||
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ARTICLE V REVENUES AND FUNDS |
25 | |||
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Section 5.01 |
SOURCE OF PAYMENT OF BONDS | 25 | ||
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Section 5.02 |
Creation of the Bond Fund; Pledge of Same | 26 | ||
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Section 5.03 |
Payments into the Bond Fund | 26 | ||
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Section 5.04 |
Use of Monies in the Bond Fund | 26 | ||
2
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Section 5.05 |
Non-Presentment of Bonds | 26 | ||
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Section 5.06 |
Fees, Charges and Expenses of Bond Agents | 27 | ||
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Section 5.07 |
Monies to be Held in Trust | 27 | ||
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Section 5.08 |
Insurance and Condemnation Proceeds | 27 | ||
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Section 5.09 |
Repayment to the Lessee from the Bond Fund | 27 | ||
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ARTICLE VI CUSTODY AND APPLICATION OF PROCEEDS OF BONDS |
27 | |||
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Section 6.01 |
Disposition of Accrued Interest; Disposition of Bond Proceeds | 27 | ||
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Section 6.02 |
Project Fund: Disbursements | 28 | ||
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Section 6.03 |
Completion and Occupancy of Project | 28 | ||
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Section 6.04 |
Surplus Money in Project Fund | 28 | ||
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ARTICLE VII INVESTMENTS; DEPOSIT OF FUNDS |
28 | |||
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Section 7.01 |
Project Fund Investments | 28 | ||
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Section 7.02 |
Bond Fund Investments | 29 | ||
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Section 7.03 |
Deposit of Funds | 29 | ||
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ARTICLE VIII SUBORDINATION TO RIGHTS OF THE LESSEE |
29 | |||
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Section 8.01 |
Subordination to Rights of the Lessee | 29 | ||
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Section 8.02 |
Release of Portions of the Project | 29 | ||
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Section 8.03 |
Release of Equipment | 30 | ||
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Section 8.04 |
Granting of Easements | 30 | ||
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Section 8.05 |
Further Assurances | 30 | ||
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ARTICLE IX DISCHARGE OF LIEN |
30 | |||
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Section 9.01 |
Discharge of Lien | 30 | ||
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Section 9.02 |
Provision for Payment of Bonds | 31 | ||
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ARTICLE X DEFAULT PROVISIONS AND REMEDIES OF BONDHOLDERS |
31 | |||
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Section 10.01 |
Defaults | 31 | ||
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Section 10.02 |
Acceleration | 32 | ||
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Section 10.03 |
Other Remedies | 32 | ||
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Section 10.04 |
Rights of Bondholders | 32 | ||
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Section 10.05 |
Application of Monies | 33 | ||
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Section 10.06 |
Termination of Proceedings | 34 | ||
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Section 10.07 |
Notice of Events of Default; Opportunity of the Issuer and Lessee to Cure Defaults | 34 | ||
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Section 10.08 |
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