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TRUST INDENTURE
DATED AS OF FEBRUARY 1, 2001
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BETWEEN
UNIFIED GOVERNMENT OF WYANDOTTE COUNTY/KANSAS CITY, KANSAS,
AS THE ISSUER
AND
SECURITY BANK OF KANSAS CITY,
AS THE TRUSTEE
$22,075,000
TAXABLE INDUSTRIAL REVENUE BONDS
(EPA LABORATORY PROJECT)
SERIES 2001
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<PAGE>
TRUST INDENTURE
TABLE OF CONTENTS
PAGE
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Parties........................................................1
Recitals.......................................................1
Granting
Clauses...............................................1
ARTICLE I
DEFINITIONS
Section 101. Definitions of Words
and Terms.................................2
Section 102. Rules of
Interpretation.......................................10
ARTICLE II
THE BONDS
Section 201. Title and Amount of
Bonds.....................................10
Section 202. Limited Nature of
Obligations.................................10
Section 203. Denomination,
Numbering and Dating of Bonds...................10
Section 204. Method and Place of
Payment of Bonds..........................10
Section 205. Execution and
Authentication of Bonds.........................11
Section 206. Registration, Transfer
and Exchange of Bonds..................11
Section 207. Persons Deemed Owners
of Bonds................................11
Section 208. Authorization of
Series 2001 Bonds............................11
Section 209. Authorization of
Additional Bonds.............................11
Section 210. Temporary
Bonds...............................................12
Section 211. Mutilated, Lost,
Stolen or Destroyed Bonds....................14
Section 212. Cancellation and
Destruction of Bonds Upon Payment............14
Section 213. Book Entry; Securities
Depository.............................14
ARTICLE III
REDEMPTION OF BONDS
Section 301. Redemption of Bonds
Generally.................................15
Section 302. Redemption of
Bonds...........................................15
Section 303. Selection of Bonds to
be Redeemed.............................16
Section 304. Trustee's Duty to
Redeem Bonds................................16
Section 305. Notice and Effect of
Call for Redemption......................17
Section 306. Effect of Call for
Redemption.................................18
ARTICLE IV
FORM OF BONDS
Section 401. Form of Bonds
Generally.......................................18
Section 402. Form of Series 2001
Bonds.....................................18
ARTICLE V
CREATION OF PROJECT FUND; CUSTODY AND
APPLICATION OF BOND PROCEEDS
Section 501. Creation of Project
Fund......................................18
(i)
<PAGE>
Section 502. Deposits into the
Project Fund................................18
Section 503. Disbursements from the
Project Fund...........................18
Section 504. Disposition Upon
Completion of the Project....................19
Section 505. Disposition Upon
Acceleration.................................19
ARTICLE VI
REVENUES
AND FUNDS
Section 601. Creation of Funds and
Accounts................................19
Section 602. Deposits Into and
Application of Moneys in the Revenue Fund...19
Section 603. Deposits into the Debt
Service Fund...........................20
Section 604. Application of Moneys
in the Debt Service Fund................20
Section 605. Deposits into and
Application of Moneys in the Project
Replacement Fund......................................20
Section 606. Deposits into and
Application of Moneys in the Capitalized
Interest Fund.........................................20
Section 607. Deposits Into and
Application of Moneys in the Tax and
Insurance Fund........................................21
Section 608. Deposits Into and
Application of Moneys in the Project
Operation and Maintenance Fund........................21
Section 609. Payments Due on
Saturdays, Sundays and Holidays...............21
Section 610. Nonpresentment of
Bonds.......................................21
ARTICLE VII
SECURITY FOR DEPOSITS AND INVESTMENT OF FUNDS
Section 701. Moneys to be Held in
Trust....................................21
Section 702. Investment of Moneys
in Funds.................................21
Section 703. Record
Keeping................................................21
ARTICLE VIII
GENERAL COVENANTS AND PROVISIONS
Section 801. Payment of Principal
of, Premium, if Any, and Interest
on the Bonds..........................................22
Section 802. Authority to Execute
Indenture and Issue Bonds................22
Section 803. Performance of
Covenants......................................22
Section 804. Instruments of Further
Assurance..............................22
Section 805. Maintenance, Taxes and
Insurance..............................22
Section 806. Inspection of Project
Books...................................22
Section 807. Enforcement of Rights
Under the Lease.........................22
Section 808. Possession and Use of
Project.................................22
ARTICLE IX
REMEDIES ON DEFAULT
Section 901. Acceleration of
Maturity in Event of Default..................23
Section 902. Exercise of Remedies
by the Trustee...........................23
Section 903. Limitation on Exercise
of Remedies by Owners..................23
Section 904. Right of Owners to
Direct Proceedings.........................23
Section 905. Remedies
Cumulative...........................................23
Section 906. Waivers of Events of
Default..................................23
ARTICLE X
THE TRUSTEE
Section 1001. Acceptance of the
Trusts......................................24
Section 1002. Fees, Charges and Expenses
of the Trustee.....................25
Section 1003. Notice to Owners if Default
Occurs............................25
Section 1004. Intervention by the
Trustee...................................25
(ii)
<PAGE>
Section 1005. Successor Trustee Upon
Merger, Consolidation or Sale..........25
Section 1006. Resignation of
Trustee........................................25
Section 1007. Removal of
Trustee............................................25
Section 1008. Appointment of Successor
Trustee..............................25
Section 1009. Vesting of Trusts in
Successor Trustee........................25
Section 1010. Right of Trustee to Pay
Taxes and Other Charges...............25
Section 1011. Trust Estate May Be Vested
in Co-trustee......................26
Section 1012. Annual
Accounting.............................................26
Section 1013. Recordings and
Filings........................................26
Section 1014. Performance of Duties under
the Lease.........................26
Section 1015. Designation of Paying
Agents..................................26
Section 1016. Fees, Charges and Expenses
of Paying Agents...................26
ARTICLE XI
SUPPLEMENTAL INDENTURES
Section 1101. Supplemental Indentures Not
Requiring Consent of Owners.......26
Section 1102. Supplemental Indentures
Requiring Consent of Owners...........27
Section 1103. Tenant's Consent to
Supplemental Indentures...................27
ARTICLE XII
LEASE AND SUBLEASE AMENDMENTS
Section 1201. Lease
Amendments..............................................27
Section 1202. Sublease
Amendments...........................................27
ARTICLE XIII
SATISFACTION AND DISCHARGE
Section 1301. Satisfaction and Discharge
of Indenture.......................27
Section 1302. Bonds Deemed to be
Paid.......................................28
ARTICLE XIV
MISCELLANEOUS PROVISIONS
Section 1401. Consents and Other
Instruments by Owners......................28
Section 1402. Interested
Parties............................................28
Section 1403.
Notices.......................................................29
Section 1404. Suspension of Newspaper
Publication or Mail Service...........29
Section 1405.
Amendment.....................................................29
Section 1406.
Severability..................................................29
Section 1407.
Counterparts..................................................29
Section 1408. Governing
Law.................................................29
Signatures and
Seals.........................................S-1
Schedule I - Property Subject to Lease
Schedule II - Permitted Encumbrances
Appendix A-Form of Series 2001 Bonds
(iii)
<PAGE>
TRUST INDENTURE
THIS TRUST
INDENTURE,
dated as of February
1, 2001, between the
UNIFIED
GOVERNMENT OF WYANDOTTE COUNTY/KANSAS CITY, KANSAS, a
municipal corporation and
political subdivision duly organized and
existing under the laws of the State of
Kansas, as Issuer, and SECURITY BANK OF
KANSAS CITY, a banking
corporation duly
organized and existing and authorized to accept and execute trusts of the
character herein set forth under the laws of the State of Kansas, with its
principal office located in the City of
Kansas City, Kansas, as Trustee;
WITNESSETH:
WHEREAS,
the Issuer is authorized by the Act to acquire, construct,
improve and equip certain "facilities" (as defined in the Act) for
commercial,
industrial and manufacturing purposes, to enter into leases and
lease-purchase
agreements with any person, firm or corporation for said facilities, and to
issue revenue bonds for the purpose of paying
the cost of any such
facilities;
and
WHEREAS,
pursuant to such
authorization,
the Issuer's governing body
passed and approved an Ordinance on
November 30, 2000, authorizing the Issuer to
issue the Series 2001 Bonds for the purpose of financing the acquisition,
construction, furnishing and equipping of an
approximately
70,000 square foot
commercial building located at the corner of
Minnesota and 3rd Street in Kansas
City, Kansas, which constitutes the
Project, and authorizing the Issuer to lease
the Project to the Tenant; and
WHEREAS,
pursuant to such Ordinance, the Issuer is authorized (a) to
execute and deliver this Indenture for the purpose of issuing and
securing the
Series 2001 Bonds and any Additional Bonds,
as hereinafter provided, and (b) to
enter into the Lease, under which the proceeds of the Bonds shall be used to
acquire, construct, furnish and equip the Project and pursuant to which the
Issuer shall lease the Project to the
Tenant, in
consideration of rentals which
are intended to be sufficient to provide for the payment of the
principal of,
premium, if any, and interest on the Bonds
as the same become due; and
WHEREAS,
all things necessary to make the Bonds, when authenticated by
the
Trustee and issued as provided in this
Indenture, the valid
and legally binding
limited obligations of the Issuer, and to
constitute this Indenture a valid and
legally binding pledge and assignment of the Trust Estate
herein made for the
security of the payment of the principal of, premium, if any, and interest on
the Bonds issued hereunder, have been done and performed, and
the execution and
delivery of this Indenture and the
execution and issuance of the Bonds, subject
to the terms hereof, have in all respects
been duly authorized;
NOW,
THEREFORE, THIS INDENTURE WITNESSETH:
GRANTING CLAUSES
That the
Issuer, in
consideration of the premises, the acceptance by the
Trustee of the trusts hereby created, the purchase and acceptance of the
Bonds
by the Owners thereof, and of other good
and valuable consideration, the receipt
of which is hereby acknowledged, and in order to secure the payment of the
principal of, premium, if any, and interest on all of the Bonds
issued and
Outstanding under this Indenture from time to
time according to their tenor and
effect, and to secure the performance and observance by the Issuer of
all the
covenants, agreements and conditions
herein and in the
Bonds contained,
does
hereby pledge and assign unto the Trustee
and its successors
and assigns,
the
following property (said property being herein referred to as the "Trust
Estate"):
(a) the real estate
situated in
Wyandotte County, Kansas,
described in
paragraph (a) of SCHEDULE I attached
hereto, with all
buildings, structures, facilities, additions, improvements,
machinery,
equipment and any other property now or hereafter constructed,
located
or installed
thereon to the extent and subject to the limitations
provided in
the Lease, and with the tenements, hereditaments,
appurtenances, rights, privileges and immunities thereunto
belonging or
appertaining;
(b) all right,
title and interest of the Issuer in, to and
under the Lease (except the Issuer's right to indemnity thereunder)
and
the Sublease,
and all rents,
revenues and receipts derived by the
Issuer from the
Project including, without limitation, all Rental
Payments derived by the Issuer under and pursuant to and subject to
the
provisions of the Lease; provided that the pledge and assignment
hereby
made shall not impair or diminish the obligations of the Issuer under
the provisions of the Lease; and
(c) all moneys and
securities
from time to time held
by the
Trustee under
the terms of this Indenture, and any and all other
property of every
kind and nature from time to time hereafter, by
delivery or by writing of any kind, pledged, assigned or
transferred as
and for additional security hereunder by the Issuer or by anyone in
its
behalf, or with its
written consent, to
the Trustee, which is
hereby
authorized to receive
any and all such
property at any and
all times
and to hold and apply the same subject to the terms hereof.
TO HAVE AND TO HOLD, all and singular, the Trust Estate with all
rights
and privileges hereby pledged and assigned,
or agreed or intended
so to be, to
the Trustee and its successors in trust and
assigns;
IN TRUST NEVERTHELESS,
upon the terms and
subject to the
conditions
herein set forth, for the equal and proportionate benefit, protection and
security of all Owners from time to time of the Bonds
issued and
Outstanding
under this Indenture, without preference,
priority or
distinction as to lien or
otherwise of any of the Bonds over any
other of the Bonds except with respect to
the Bond Reserve Fund and as expressly
provided by this Indenture;
<PAGE>
PROVIDED,
HOWEVER, that if the Issuer shall well and
truly pay, or cause
to be paid, the principal of, premium, if
any, and interest on all the Bonds, at
the times and in the manner mentioned in the Bonds according
to the true intent
and meaning thereof, or shall provide for the payment
thereof (as provided
in
ARTICLE XIII hereof), and shall pay or
cause to be paid to the Trustee all other
sums of money due or to become due to it in accordance with the terms and
provisions hereof, then upon such final payments this
Indenture and the rights
hereby granted shall cease, determine and be void;
otherwise,
this Indenture
shall be and remain in full force and
effect.
THIS
INDENTURE FURTHER
WITNESSETH, and it is
hereby expressly
declared,
covenanted and agreed by and between the
parties hereto,
that all Bonds
issued
and secured hereunder are to be issued,
authenticated and delivered and that all
the Trust Estate is to be held and applied
under, upon and subject to the terms,
conditions, stipulations, covenants, agreements, trusts, uses and
purposes as
hereinafter expressed, and the Issuer does hereby agree
and covenant with
the
Trustee and with the respective Owners from time to time of the Bonds, as
follows:
ARTICLE I
DEFINITIONS
SECTION
101. DEFINITIONS OF
WORDS AND TERMS. In addition to the words and
terms defined elsewhere in this Indenture,
the following words and terms as used
in this Indenture shall have the following
meanings, unless some other meaning
is plainly intended:
"ACT"
means K.S.A. 12-1740 to 12-1749d, inclusive, as amended.
"ADDITIONAL BONDS"
means any Bonds issued
in addition to and on a parity
with the Series 2001 Bonds and issued
pursuant to SECTION 209 of this Indenture.
"ADDITIONAL RENT" means all fees, charges and expenses of the
Trustee and
the Paying Agents, all Default Administration Costs, all other payments of
whatever nature payable or to become
payable pursuant to
the Indenture or which
the Tenant has agreed to pay or assume
under the provisions
of the Lease,
and
any and all expenses (including reasonable attorney's fees) incurred by the
Issuer in connection with the issuance of the Bonds or
the enforcement
of any
rights under the Lease or this Indenture.
The fees, charges and
expenses of the
Trustee shall include all costs incurred in connection with the issuance,
transfer, exchange, registration,
redemption or payment
of the Bonds except (a)
reasonable fees and expenses incurred in connection
with the replacement
of a
Bond or Bonds mutilated, stolen, lost or destroyed or (b) any tax or other
government charge imposed on the Trustee in
relation to the transfer, exchange,
registration, redemption or payment of the
Bonds.
"ADDITIONAL TERM"
means the term
commencing on the last day of the Basic
Term and terminating five (5) years
thereafter.
"ANNUAL
BUDGET" means the Annual Budget of the Project required by
SECTION
10.4(B) of the Lease.
"AFFILIATE" means any
person (including
any corporation, partnership,
limited liability company or other entity
(including without
limitation,
any
trust or estate or natural person) which, directly or through one or more
intermediaries, owns or controls, or is controlled by or which is
under common
control with, the Tenant.
"AUTHORIZED TENANT REPRESENTATIVE" means any member of the Tenant
as is at
the time designated to act on behalf of the
Tenant as evidenced by written
certificate furnished to the Issuer and the Trustee
containing
the specimen
signature of such person and signed on behalf of the
Tenant by a member.
Such
certificate may designate an alternate
or alternates, each of whom shall be
entitled to perform all duties of the
Authorized Tenant Representative.
"AUTHORIZED
NEWSPAPER" means
a newspaper published and of general
circulation within the Issuer's boundaries and the official
newspaper or other
designated official publication of the
State.
"BANKRUPTCY CODE" means Title 11 of the United States Code, as
amended.
"BASIC
RENT" means the monthly pro rata amount which, when added to Basic
Rent Credits, will be sufficient to pay, on
the next Payment Date, all principal
of, premium, if any, and interest on the Bonds
which is due and payable on such
Payment Date.
"BASIC
RENT CREDITS"
means all funds on
deposit in the Debt Service Fund
and the Capitalized Interest Fund and the accounts contained therein and
available for the payment of principal of,
premium, if any, and
interest on the
Bonds on any Payment Date.
"BASIC
RENT PAYMENT DATE" means March 1, 2001 and the
first day of each
month thereafter until the principal of, premium,
if any, and interest
on the
Bonds have been fully paid or provision has been made for their
payment in
accordance with the provisions of the
Indenture.
"BASIC
TERM" means the term commencing as of the date of the Lease
and
ending on October 1, 2022, subject to prior termination as specified in the
Lease, but to continue thereafter until all of the principal of,
premium, if
any, and interest on all Outstanding Bonds shall have been paid in full
or
provision made for their payment in accordance with the provisions of the
Indenture.
"BOND" or
"BONDS" means the
fully registered
Series 2001 Bonds and any
Additional Bonds.
2
<PAGE>
"BOND
COUNSEL" means the firm of Gilmore & Bell, P.C. or any other
attorney or firm of attorneys whose expertise in matters relating to the
issuance of obligations by states and their
political subdivisions is nationally
recognized and acceptable to the Trustee
and the Tenant.
"BOND
REGISTER" means the books maintained by the Trustee for the
registration and transfer of the Bonds.
"BUSINESS
DAY" means a day which
is not (a) a Saturday
or Sunday or (b)
any day on which banks in the State are
authorized or required to be closed.
"CAPITALIZED INTEREST
FUND" has the
meaning set forth in
SECTION 601 of
this Indenture.
"CEDE
& CO." means Cede & Co., as nominee of The Depository Trust
Company,
New York, New York.
"CERCLA"
means the Comprehensive Environmental Response, Compensation and
Liability Act, 42 U.S.C. ss.9601, et
seq.
"CERTIFICATE OF
COMPLETION"
means a written
certificate
signed by the
Authorized Tenant Representative and the
Project Consultant stating that (a) the
Project has been completed in accordance
with the Plans and Specifications, (b)
the Project has been completed in a good and workmanlike manner, (c) no
mechanic's or other similar liens have been filed,
nor is there any basis
for
the filing of such liens, with respect to the Project, (d) all Improvements
constituting a part of the Project are located
or installed upon the
Land, (e)
if required by ordinances duly adopted by the Issuer or by
applicable
building
codes, that an appropriate certificate of
occupancy has been issued with respect
to the Project and (f) the Project has been
accepted by the
Subtenant pursuant
to the terms of the Sublease.
"CHANGE OF
CIRCUMSTANCES"
means the occurrence of any of the following
events:
(a) title to, or the
temporary use of, all
or any material part of
the
Project shall be
condemned by any authority exercising the power of
eminent
domain;
(b) title to substantially all of the Project is found to be
deficient
or nonexistent to the extent that the Project is untenantable
or
the
efficient utilization
of the Project by the
Tenant is
substantially
impaired;
(c) substantially all of the Project is damaged or destroyed by
fire
or other
casualty; or
(d) as a result of (i)
changes in the
Constitution
of the State,
(ii)
any legislative or administrative action by the State or any
political subdivision
thereof, or by the United States or (iii) any action
instituted
in any court, the Lease shall become void or unenforceable,
or
impossible
to perform without
unreasonable delay, or unreasonable burdens
or
excessive liabilities are imposed upon the Issuer or the Tenant
by
reason of
such changes of circumstances.
"CODE"
means the Internal Revenue Code of 1986, as amended, together with
the regulations promulgated thereunder by the United States
Department of the
Treasury.
"COMPLETION DATE"
means the date of completion of the acquisition,
purchase, construction and installation of
the Project pursuant to the Lease.
"CONSTRUCTION PERIOD"
means the period from the beginning of construction
of the Project to the Completion Date.
"COSTS OF
ISSUANCE" means any and all expenses of whatever nature
incurred
in connection with the issuance and sale of
the Bonds, including but not limited
to underwriting fees and expenses, underwriting discount, bond and other
printing expenses, and legal fees and
expenses of counsel.
"DEBT
SERVICE FUND" has the meaning set forth in SECTION 601 of this
Indenture.
"DEFAULT"
means any event or
condition the occurrence of which, with the
lapse of time or the giving of notice or
both, constitutes
an Event of
Default
under the Lease.
"DEFAULT
ADMINISTRATION
COSTS" means the
reasonable
fees, charges and
expenses of the Trustee incurred in anticipation of an Event of Default,
or
after the occurrence of an Event of Default, including, but not limited to,
counsel fees, litigation costs and expenses, the expenses of maintaining
and
preserving the Project and the expenses of
re-letting or selling the Project.
"DEFEASANCE OBLIGATIONS" means:
(a) Government Obligations which are not subject to redemption
prior
to
maturity; or
(b) obligations of any state or political subdivision of any state,
the
interest on which is excluded from gross income for federal income
tax
purposes
and which meet the following conditions:
3
<PAGE>
(i) (A) the obligations are not subject to redemption prior to
maturity
or (B) the
trustee for such obligations has been given
irrevocable instructions concerning their calling and redemption
and
the issuer of such
obligations has
covenanted
not to redeem such
obligations other than as set forth in such instructions;
(ii) the obligations are secured by cash or Government
Obligations that may
be applied only to
payment of principal
of,
premium, if any, and interest payments on such obligations;
(iii) such cash and Government Obligations serving as security
for the obligations
are held in an
irrevocable
escrow fund by an
escrow agent or a
trustee irrevocably
in trust for the
owners of
such obligations, and the issuer of such obligations is not, and
has
not been since
the establishment of such escrow, a debtor in a
proceeding commenced under the Bankruptcy Code;
(iv) the sufficiency of such cash and noncallable Government
Obligations to pay in
full all principal of,
premium, if any,
and
interest on such
obligations has been
verified by the report of an
independent certified
public accountant (for purposes of this
subparagraph
(iv), a "Verification") and no substitution of
Government Obligations
shall be permitted except with cash or other
Government Obligations and upon delivery of a new Verification;
(v) such cash and Government Obligations are not available
to
satisfy any other
claims, including
those against the trustee or
escrow agent;
(vi) the Trustee
has received an opinion of Bond Counsel
delivered in
connection
with
the original issuance of such
obligations to the effect that the interest on such obligations was
exempt for purposes of federal income taxation, and the Trustee has
received an opinion of Bond Counsel delivered in connection with
the
establishment of the
irrevocable
escrow to the effect that the
establishment of the
escrow will not result in the loss of any
exemption for purposes of federal income taxation to which interest
on such obligations would otherwise be entitled;
(vii) the Trustee
has received an unqualified opinion of
bankruptcy counsel to
the effect that the payment of principal of
and interest on such
obligations made from such escrow would not be
avoidable as
preferential
payments
and recoverable under the
Bankruptcy Code
should the obligor or
any other person
liable on
such obligations become a debtor in a proceeding commenced under
the
Bankruptcy Code; and
(vi) the obligations are rated in the highest long-term rating
category by Moody's (presently "AAA") and S&P (presently
"AAA").
"ENVIRONMENTAL
ASSESSMENT" means an environmental assessment with respect
to the Project conducted by an independent consultant satisfactory to the
Trustee which reflects the results of such
inspections,
records reviews,
soil
tests, groundwater tests and other tests
requested, which assessment and results
shall be satisfactory in scope, form and substance to the Trustee and the
Tenant.
"ENVIRONMENTAL
LAW" means
CERCLA,
the Superfund Amendments and
Reauthorization Act of 1986, and any other
federal, state or local environmental
statute, regulation or ordinance presently in effect or coming into effect
during the term of the Lease.
"EVENT OF
BANKRUPTCY" means an
event whereby the Tenant shall: (a) admit
in writing its inability to pay its debts as they become due; (b) file a
petition in bankruptcy or for reorganization or for the adoption of an
arrangement under the Bankruptcy Code as
now or in the future amended, or file a
pleading asking for such relief, (c) make an assignment for the benefit of
creditors; (d) consent to the appointment of
a trustee or receiver for all or a
major portion of its property; (e) be finally adjudicated as bankrupt or
insolvent under any federal or state law; (f) suffer the entry of a final
and
nonappealable court order under any federal or
state law appointing a
receiver
or trustee for all or a major part of its
property or ordering the winding-up or
liquidation of its affairs, or approving a petition filed
against it under the
Bankruptcy Code, which order, if the Tenant
has not consented thereto, shall not
be vacated, denied, set aside or stayed within 60 days
after the day of entry;
or (g) suffer a writ or warrant of attachment or any similar process to be
issued by any court against all or any
substantial portion of its property, and
such writ or warrant of attachment or any similar process is not contested,
stayed, or is not released within 60 days after the final
entry, or levy or
after any contest is finally adjudicated or
any stay is vacated or set aside.
"EVENT OF
DEFAULT" under this Indenture means any of the following
events:
(a) default in the due and punctual payment of any interest on any
Bond;
(b) default in the due and punctual payment of the principal of or
premium,
if any, on any Bond on the stated maturity or accelerated
maturity date thereof, or at
the redemption date thereof,
(c) default in the
performance or
observance
of any other of
the
covenants,
agreements or conditions on the part of the Issuer contained in
this
Indenture or in the Bonds, and the continuance thereof for a period
of 30 days
after written notice thereof shall have been given to the
Issuer,
the Tenant and the
Subtenant by the Trustee or the Issuer,
the
Tenant and
the Subtenant
by the Owners of not
less than 25% in aggregate
principal
amount of Bonds then Outstanding; provided, however, that if
any
default
shall be such that it
cannot be corrected within such 30-day
period,
it shall not
constitute an Event of Default if corrective action
is
instituted
by the Issuer or the Tenant within such period and
diligently
pursued until such default is corrected; or
4
<PAGE>
(d) "Default" as defined in the Lease shall have occurred.
"FULL
INSURABLE VALUE" means the full actual replacement cost of the
Project less physical depreciation as determined from time to time upon the
request of the Issuer, the Tenant or the Trustee (but not
more frequently
than
once in every 24 months) by an architect,
appraiser, appraisal company or one of
the insurers, selected and paid by the
Tenant.
"GOVERNMENT
OBLIGATIONS" means
direct obligations of, or obligations the
payment of the principal of and interest on
which are unconditionally guaranteed
by, the United States of America.
"HAZARDOUS
SUBSTANCES"
shall mean
"hazardous
substances" as defined
in
CERCLA.
"IMPOSITIONS" means all taxes and assessments, general and special, which
may be lawfully taxed, charged,
levied, assessed or imposed upon or
against or
payable for or in respect of the
Project or any part
thereof or the
Tenant's
interest therein, including any new lawful
taxes and assessments not of the kind
enumerated above to the extent that the same are lawfully made, levied or
assessed in lieu of or in addition to taxes or assessments now customarily
levied against real or personal
property, and further including all water and
sewer charges, assessments and other governmental charges and impositions
whatsoever, foreseen or unforeseen.
"IMPROVEMENTS" means
the buildings,
structures,
facilities,
additions,
improvements, machinery, equipment and
other property described in paragraph (b)
of SCHEDULE I attached hereto and made a
part hereof.
"INDENTURE" means this
Trust Indenture by and
between the Issuer and the
Trustee, as from time to time amended and supplemented by Supplemental
Indentures in accordance with the
provisions of ARTICLE XI of this Indenture.
"INTEREST
PAYMENT DATE" means (a) with respect to
the Series 2001 Bonds,
April 1 and October 1 of each year,
commencing October 1,
2001, and terminating
when the principal of, premium if any, and interest on the Series 2001
Bonds
have been fully paid, and (b) with respect to any
Additional Bonds,
the dates
specified as interest payments dates in the Supplemental Indenture relating
thereto.
"INVESTMENT
SECURITIES" means any
of the following
securities,
to the
extent the same are at the time
permitted for investment of funds held by
the
Trustee pursuant to this Indenture:
(a) cash (insured
at all times by the
Federal Deposit Insurance
Corporation or
otherwise
collateralized with
obligations
described in
paragraph
(b) below);
(b) direct obligations
of (including
obligations issued or held in
book entry
form on the books of) the Department of the Treasury of the
United
States of America;
(c) obligations
of any of the
following federal
agencies, which
obligations represent
the full faith and
credit of the United
States of
America:
-
Export-Import Bank
-
Farm Credit System Financial Assistance Corporation
-
Rural Economic Community Development Administration (formerly
the Farmers Home Administration)
-
General Services Administration
-
U.S. Maritime Administration
-
Small Business Administration
-
Government National Mortgage Association (GNMA)
-
U.S. Department of Housing & Urban Development (PHA's)
-
Federal Housing Administration
-
Federal Financing Bank;
(d) direct obligations
of any of the
following federal
agencies,
which
obligations are not fully guaranteed by the full faith and credit
of
the United
States of America:
- Senior debt obligations rated "Aaa" by Moody's and "AAA"
by
S&P issued by the Federal National Mortgage Association
(FNMA)
or Federal Home Loan Mortgage Corporation (FHLMC)
-
Obligations of the Resolution Funding Corporation (REFCORP)
-
Senior debt obligations of the Federal Home Loan Bank System
(e) U.S. dollar
denominated
deposit accounts, federal funds and
bankers'
acceptances with domestic commercial banks (including the
Trustee
and its
affiliates) which have
a rating on their short term certificates
of deposit
on the date of
purchase of "A-1" or "A-1+" by S&P and "P-l" by
Moody's
and maturing no more than 360 days after the date of purchase
(provided
that ratings on holding companies are not considered to be
ratings on
the subsidiary banks);
(f) commercial
paper which is rated
at the time of purchase in the
single
highest classification
by S&P
(presently
"A-1+") and by
Moody's
(presently
"P-l") and which
matures not more than 270 days after the date
of
purchase;
5
<PAGE>
(g) investments
in a money market fund
rated "AAAm" or "AAAm-G" or
better by
S & P;
(h) "pre-refunded
municipal
obligations," which is
defined as any
bonds or
other obligations of any state of the United States of America
or
of any
agency, instrumentality or local governmental unit of any such
state
which are not callable at the option of the obligor prior to
maturity
or as to which
irrevocable
instructions have been
given by the
obligor to
call on the date specified in the notice; and
(i) which are rated based on an irrevocable escrow account or
fund (the "escrow"),
in the highest rating category of S&P and
Moody's or any successors thereto; or
(ii) (A) which are fully secured as to principal, premium, if
any, and interest by an escrow consisting only of cash or
obligations described
in paragraphs (a) and (b) above, which escrow
may be applied only to the payment of such principal of and
interest
and redemption
premium, if any, on
such bonds or other obligations
on the maturity date or dates thereof or the specified redemption
date or dates pursuant to such irrevocable instructions, as
appropriate, and (B)
which escrow is
sufficient, as
verified by a
nationally recognized
independent certified
public accountant,
to
pay principal of and
interest and premium,
if any, on the bonds or
other obligations
described in this
paragraph on the maturity date
or dates specified
in the irrevocable instructions referred to
above, as appropriate;
(i) general
obligations
of any state with a rating of at least
"A2/A" or
higher by both Moody's and S&P; or
(j) investment agreements constituting an obligation of a bank,
bank
holding
company, savings and
loan association,
trust company,
insurance
company
or other financial institution whose outstanding unsecured
short-term
debt is rated at the time of such
agreement in the highest
rating
category by a nationally recognized rating agency or whose
outstanding unsecured
long-term debt is rated at the time of such
agreement
in either of the two highest rating categories by a nationally
recognized
rating agency.
"ISSUER"
means the Unified
Government of
Wyandotte
County/Kansas
City,
Kansas, a municipal corporation and
political subdivision organized and existing
under the laws of the State, and its
successors and assigns.
"LAND"
means the real
property on which the
Project is located, as
more
specifically described in paragraph (a) of
SCHEDULE I attached hereto and made a
part hereof and paragraph (a) of SCHEDULE I
of the Lease.
"LAND
CLOSING DATE" has the meaning set forth in SECTION 14.1 of the
Lease.
"LEASE"
means the Lease dated as of the date of this Indenture between
the
Issuer and the Tenant, as from time to time amended and supplemented in
accordance with the provisions thereof and
of ARTICLE XII of this Indenture.
"LEASE
EVENT OF DEFAULT"
under the Lease means
any one of the
following
events:
(a) failure of the Tenant to make any payment of Basic Rent when
due
or within
five (5) days thereafter and in the amounts required hereunder;
(b) failure of the Tenant to make any payment of Additional
Rent at
the times
and in the amounts required hereunder, or failure by the Tenant
to
observe or perform any other covenant, agreement, obligation or
provision
of the Lease,
if the same is not
remedied within
thirty (30)
days after
the Issuer or the Trustee has given the Tenant written notice
specifying
such failure (or such longer period as shall be reasonably
required
to correct such default; provided that (i) the Tenant has
commenced
such correction within
said 30-day period,
and (ii) the Tenant
diligently
prosecutes such correction to completion);
(c) an Event of Bankruptcy; or
(d) the Tenant abandons the Project.
"MOODY'S"
means Moody's
Investors Service,
a corporation
organized and
existing under the laws of the State of Delaware, and its successors and
assigns, and, if such corporation
shall be dissolved or
liquidated or shall no
longer perform the functions of a
securities rating
agency, "Moody's"
shall be
deemed to refer to any other nationally recognized securities rating agency
designated by the Issuer by notice to the
Trustee.
"NET
PROCEEDS" means, when used with respect to any insurance or
condemnation award with respect to the
Project, the proceeds
from the insurance
or condemnation award remaining after the payment of all expenses
(including
attorneys' fees and any extraordinary expenses of the Trustee) incurred
in the
collection of such proceeds.
"NOTICE
ADDRESS" means:
(a) with
respect to the Issuer:
6
<PAGE>
Unified Government of Wyandotte County/Kansas City, Kansas
701 N. 7th Street
9th Floor
Kansas City, KS 66101
Attention: County
Administrator
(b) with
respect to the Trustee:
Security Bank of Kansas City
One Security Plaza
701 Minnesota, 2nd Floor
Kansas City, Kansas 66101-2703
Attention: Corporate
Trust Department
(c) with
respect to the Tenant:
Kansas EPA Laboratory, LLC
3100 Broadway, Suite 1102
Kansas City, Missouri 64111
Attention: Member
(d) with
respect to the Subtenant:
General Services Administration
P.O. Box 17181
Ft. Worth,
Texas 76102-0181
Attention: Finance
Division (7BCPL)
With a copy to:
Contracting Officer
GSA Property Acquisition and Realty Services (6PEEM)
1500
E. Bannister Road
Kansas City, Missouri 64131-3088
Attention: Madelynn C.
Garffie
(e) with
respect to the Owners:
The addresses of the Owners shown on the Bond Register.
"OUTSTANDING"
means,
as of a particular date, all Bonds issued,
authenticated and delivered under this
Indenture, except:
(a) Bonds cancelled
by the Trustee or
delivered to the Trustee for
cancellation pursuant to this Indenture;
(b) Bonds for which
moneys or investments
have been deposited in
trust with
the Trustee for payment or redemption in accordance with the
provisions
of the Indenture; and
(c) Bonds in exchange
for or in lieu of which other Bonds have been
authenticated and delivered pursuant to this Indenture.
"OWNER"
means the registered owner of any fully registered Bond.
"PARTICIPANTS" means those financial institutions from whom the
Securities
Depository effects book-entry transfers and pledges of Bonds
deposited with the
Securities Depository, as such listing
exists at the time of such reference.
"PAYING
AGENT" means the
Trustee and any other
commercial bank or
trust
institution organized under the laws of any state of the United States of
America or any national banking association designated pursuant to this
Indenture or any Supplemental Indenture as paying agent for any
series of Bonds
for the principal of, premium, if any, and
interest on such Bonds.
"PAYMENT
DATE" means any date on which the principal of or interest on
any
Bonds is payable.
"PERMITTED
ENCUMBRANCES" means any mortgages, liens or other encumbrances
specifically described in SCHEDULE II hereto,
easements and rights of way of
record at the time of conveyance of the
Land to the Issuer,
and any other title
exceptions not affecting marketability or the usefulness of
the Project for the
Tenant's purposes.
7
<PAGE>
"PLANS AND
SPECIFICATIONS"
means the plans and
specifications
prepared
with respect to the Project, as amended by
the Tenant from time to time prior to
the Completion Date, the same being duly certified by the Authorized Tenant
Representative, which plans and
specifications have been approved by the Project
Consultant and are on file at the principal
office of the Tenant in Kansas City,
Missouri, and shall be available for
reasonable inspection
by the Issuer, the
Trustee and their duly appointed
representatives.
"PRINCIPAL
PAYMENT DATE" means
(a) with respect to the Series 2001 Bonds,
October 1 of each year, commencing October 1, 2003, during which the
principal
of and premium, if any, on the Series 2001
Bonds remains Outstanding and unpaid,
and (b) with respect to any Additional Bonds, the dates specified as the
principal payment dates in the Supplemental
Indenture relating thereto.
"PROJECT"
means the Land and the Improvements, including an approximately
70,000 square foot office building located at the corner of Minnesota
and 3rd
Street in Kansas City, Kansas.
"PROJECT
ADDITIONS"
means any Improvements acquired, constructed or
installed from proceeds of any series of
Additional Bonds
authorized and issued
pursuant to this Indenture, and any
alterations or additions made to the Project
to the extent provided in ARTICLE XI of the
Lease.
"PROJECT
CLOSING DATE" has the meaning set forth in
SECTION 13.1 of
the
Lease.
"PROJECT CONSULTANT" means the
consultant appointed for the Project by the
Tenant and approved by the Issuer and the
Trustee, which shall
be an architect,
engineer or firm of architects or engineers who is not a
full-time employee
of
the Tenant or the Issuer.
"PROJECT
CONTRACTS" has the meaning set forth in SECTION 4.4 of the
Lease.
"PROJECT
COSTS" means those costs incurred in connection with the
Project,
including:
(a) all costs and expenses necessary or incident to the
acquisition
of any
Improvements that are
acquired, constructed
or in progress at the
date of
the original issuance and delivery of the Series 2001 Bonds;
(b) fees and expenses
of architects, appraisers, surveyors and
engineers
for estimates,
surveys, soil borings and soil tests and
other
preliminary
investigations and
items necessary to the
commencement
of
construction,
preparation of
plans, drawings and specifications and
supervision of
construction, as well
as for the performance of all other
duties of
architects,
appraisers, surveyors
and engineers in relation to
the
construction,
furnishing and equipping of the Project or the issuance
of the
Bonds;
(c) all costs and expenses of acquiring, constructing or installing
any
Improvements
that are acquired,
constructed or
installed after
the
date of
the original issuance and delivery of the Series 2001 Bonds;
(d) the cost of the
title insurance
policies and the cost of any
insurance
and performance and payment bonds maintained during the
Construction Period with respect to the Project in accordance with
ARTICLE
VI of the
Lease;
(e) interest accruing
on the Bonds prior to the Completion Date, if
and to the
extent proceeds
of the Bonds set aside
and deposited
to the
credit of
the Capitalized
Interest Fund or any accounts contained therein
pursuant
to SECTION 603 of this Indenture are insufficient for payment of
such
interest;
(f) Costs of Issuance; and
(g) all other items of expense as may be necessary or incident to:
(i)
the authorization, issuance and sale of the Bonds; (ii) the
acquisition,
construction,
equipping and furnishing of the Project; and
(iii) the
financing thereof.
"PROJECT
FUND" has the meaning set forth in SECTION 501 of this
Indenture.
"PROJECT
OPERATION AND MAINTENANCE FUND" has the meaning set forth in
SECTION 601 of this Indenture.
"PROJECT
OPERATION AND MAINTENANCE FUND REQUIREMENT" means $100,000.
"PROJECT
REPLACEMENT
FUND" has the
meaning set forth in SECTION 601 of
this Indenture.
"RECORD
DATE" means the 15th day of the month immediately preceding each
Payment Date, or if such date is not a Business Day, the Business Day
immediately preceding such Payment
Date.
"RENTAL
PAYMENTS" means the aggregate of the Basic Rent (as defined in
the
Lease) and Additional Rent (as defined in the Lease) payments provided for
pursuant to ARTICLE V of the Lease.
"REPLACEMENT BONDS"
means Bonds issued to
the beneficial
owners of the
Bonds in accordance with SECTION 213(B) of
this Indenture.
8
<PAGE>
"REVENUE
FUND" has the meaning set forth in SECTION 601 of this
Indenture.
"S&P"
means Standard & Poor's Ratings Services, A Division of The
McGraw-Hill Companies, a corporation organized and existing under the
laws of
the State of New York, and its successors
and assigns, and, if
such corporation
shall be dissolved or liquidated
or shall no longer
perform the functions
of a
securities rating agency, S&P shall be deemed to refer
to any other nationally
recognized securities rating agency designated by the Issuer by notice
to the
Trustee.
"SECURITIES
DEPOSITORY" means The Depository Trust Company, New York, New
York, and its successors and assigns.
"SERIES
2001
BONDS" means the Unified Government of Wyandotte
County/Kansas City, Kansas Taxable Industrial Revenue Bonds (EPA Laboratory
Project), Series 2001, dated the date of
original issuance and delivery thereof,
in the aggregate principal amount of
$22,075,000.
"SERIES
2001 CAPITALIZED INTEREST ACCOUNT" means the Series 2001
Capitalized Interest Account created within the Capitalized Interest Fund
pursuant to SECTION 601 of this
Indenture.
"SERIES
2001 DEBT SERVICE ACCOUNT" means the Series 2001 Debt
Service
Account created within the Debt Service
Fund pursuant to SECTION 601 of
this
Indenture.
"SERIES
2001 PROJECT ACCOUNT" means the Series 2001 Project Account
created within the Project Fund pursuant to
SECTION 501 of this Indenture.
"SERIES
2001 PLACEMENT AGENT" means U.S. Bancorp Piper Jaffray, Inc.
"STATE"
means the State of Kansas.
"SUBLEASE"
means the US
Government
Lease for Real
Property, Lease No.
GS-06P-00027, executed on December 8, 2000,
as supplemented by Supplemental
Lease Agreement No. 1 executed on
December 8, 2000 and any further supplements
and amendments thereto, whereby the Tenant subleases the Project to the
Subtenant.
"SUBTENANT" means the
United States of America acting by and through the
General Services Administration for the
benefit of the Environmental Protection
Agency, and its successors and assigns.
"SUPPLEMENTAL INDENTURE" means any indenture supplemental or
amendatory to
this Indenture entered into by the Issuer
and the Trustee pursuant to ARTICLE XI
of this Indenture.
"TAX AND
INSURANCE FUND" has
the meaning set forth in SECTION 601 of this
Indenture.
"TENANT"
means Kansas EPA Laboratory, LLC, a Missouri limited liability
company, and its successors and
assigns.
"TERM"
means, collectively, the Basic Term and the Additional Term.
"TRUST
ESTATE" has the
meaning set forth in the Granting Clauses of this
Indenture.
"TRUSTEE"
means Security Bank of
Kansas City, in the City of Kansas City,
Kansas, in its capacity as bond registrar and trustee and its successor or
successors and any other corporation or association which at the time may be
substituted in its place pursuant to and at the time
serving as Trustee
under
this Indenture.
"VALUE"
means:
(a) as to investments
for which the bid and asked prices are
published
on a regular basis in The Wall Street Journal (or, if not in
The
Wall
Street Journal, then
in The New York Times), the average of the most
recently
published bid and
asked prices for such
investments at the time
of
determination;
(b) as to investments
the bid and
asked prices of which are not
published
on a regular
basis in The Wall
Street Journal or The
New York
Times,
the average bid price at the time of determination for such
investments by any two nationally recognized government securities
dealers
(selected
by the Trustee in its
absolute discretion)
making a market in
such
investments
at the time or the bid
price published by a
nationally
recognized
pricing service;
(c) as to certificates of deposit and bankers acceptances,
the face
amount
thereof, plus accrued interest; and
(d) as to any
investment not
specified above, the value thereof
established by prior agreement between the Issuer and the
Trustee.
9
<PAGE>
SECTION
102 RULES OF INTERPRETATION.
(a) Words of the
masculine gender shall
be deemed and construed to
include
correlative words of
the feminine and neuter genders. Unless the
context
shall indicate otherwise, the words importing the singular
number
shall
include the plural and vice versa, and words importing persons
shall
include
firms, associations and corporations, including public bodies, as
well as
natural persons.
(b) Wherever in this
Indenture it is provided that either party
shall or
will make any payment or perform or refrain from performing any
act
or obligation, each such provision shall, even though not so
expressed,
be construed as an
express covenant to make such payment or to
perform,
or not to perform, as the case may be, such act or obligation.
(c) All references in
this instrument
to designated "Articles,"
"Sections"
and other subdivisions are, unless otherwise specified,
to the
designated
Articles, Sections and subdivisions of this instrument as
originally
executed. The words
"herein," "hereof,"
"hereunder" and other
words of
similar import refer
to this Indenture as a whole and not to any
particular
Article, Section or subdivision.
(d) The Table of Contents and the Article and Section headings of
this
Indenture shall not be treated as a part of this
Indenture or as
affecting
the true meaning of the provisions hereof.
ARTICLE II
THE BONDS
SECTION
201. TITLE AND AMOUNT OF BONDS. No Bonds may be issued under
this
Indenture except in accordance with the provisions of this
Article. The Bonds
authorized to be issued under this Indenture shall be issued in one or more
separate series, the first series of which shall be designated as "Unified
Government of Wyandotte County/Kansas City, Kansas Taxable Industrial Revenue
Bonds (EPA Laboratory Project), Series
2001," and any subsequent series of which
may contain such other appropriate particular designation added to or
incorporated in such title as the Issuer may
determine.
The total principal
amount of Bonds that may be issued
hereunder is hereby expressly limited to the
$22,075,000 principal amount of Series 2001 Bonds and
the permitted
principal
amount of any Additional Bonds issued
hereunder as set forth in the Supplemental
Indenture related thereto.
SECTION
202. LIMITED NATURE OF OBLIGATIONS.
(a) The
Bonds and the interest thereon shall be limited obligations of
the
Issuer payable solely and only from the Trust
Estate, and are secured by a
pledge and assignment of the Trust Estate
to the Trustee in favor of the Owners,
as provided in this Indenture. The Bonds
and the interest thereon shall not be a
debt or general obligation of the Issuer or the State, or any municipal
corporation or political subdivision thereof, and neither the Bonds, the
interest thereon, nor any judgment thereon or with
respect thereto, are payable
in any manner from tax revenues of any kind or
character.
The Bonds shall
not
constitute an indebtedness or a pledge of the faith and
credit of the Issuer,
the State or any municipal corporation or
political subdivision thereof, within
the meaning of any constitutional or
statutory limitation or restriction.
(b) No
provision, covenant or agreement contained in this Indenture or
the
Bonds, or any obligation herein or therein imposed upon the Issuer, or the
breach thereof, shall constitute or give rise to or impose upon the
Issuer a
pecuniary liability or a charge upon its
general credit or
powers of taxation.
In making the agreements, provisions and covenants set forth
in this Indenture,
the Issuer has not obligated itself except with respect to the
Project and the
application of the payments, revenues and receipts therefrom as hereinabove
provided. Neither the officers of the Issuer
nor any person executing the Bonds
shall be liable personally on the Bonds by
reason of the issuance thereof.
SECTION
203. DENOMINATION, NUMBERING AND DATING OF BONDS.
(a) The
Bonds shall be issuable in the form of fully registered Bonds in
the denomination of $100,000 or any integral multiple of $5,000 in excess
thereof not exceeding the principal amount of the Bonds maturing on any
Principal Payment Date. The Bonds shall be
substantially in the forms set forth
in ARTICLE IV of this Indenture. The Bonds of each series of Bonds shall be
numbered in such manner as the Trustee
shall determine.
(b) The
Bonds of each series
of Bonds shall be
dated as provided in this
Indenture or the Supplemental Indenture authorizing the issuance
of such series
of Bonds. The Bonds shall bear interest from their effective date of
registration. The effective date of
registration shall be set forth on each such
Bond, such effective date of registration
to be as of the Interest Payment Date
next preceding the date of authentication thereof by the Trustee,
unless such
date of authentication shall be an Interest Payment Date, in which case the
effective date of registration shall be as of such date of
authentication,
or
unless the date of authentication shall be prior to the first
Interest Payment
Date for such series of Bonds, in which case the effective date
of registration
shall be either the dated date of such
series of Bonds or the
date such series
of Bonds is issued and delivered, as provided in SECTION 208(D) of this
Indenture or the Supplemental Indenture authorizing such series of Bonds;
provided, however, that if payment of the
interest on any Bonds
of any series
shall be in default at the time of
authentication of any
fully registered Bonds
issued in lieu of Bonds surrendered for
transfer or exchange, the effective date
of registration shall be as of the date to which
interest has been paid in full
on the Bonds surrendered.
SECTION
204. METHOD AND PLACE OF PAYMENT OF BONDS. Payment of the
principal and premium, if any, on the Bonds shall be made
(a) by check or draft
upon the presentation and surrender of such Bonds as the same respectively
become due and payable at the principal
10
<PAGE>
office of any Paying Agent named in the
Bonds or (b) upon written request to the
Trustee of any Owner owning Bonds in an
aggregate principal
amount of at least
$500,000, by electronic transfer to a bank for credit to
the account
number
filed with the Trustee no later than the
Business Day immediately preceding the
applicable Record Date (which request shall be signed by the Owner and
shall
include the name of the bank, its address,
its ABA routing number
and the name,
phone number and contact name related to the Owner's
account at such bank
to
which the payment is to be credited).
Payment of the interest on each Bond shall
be made by the Trustee on each Interest
Payment Date to the
person appearing as
the Owner thereof on the Bond Register by
check or draft mailed to such Owner at
his address as it appears on such Bond
Register as of the applicable Record
Date.
SECTION
205. EXECUTION AND AUTHENTICATION OF BONDS.
(a) The
Bonds shall be
executed on behalf of
the Issuer by the manual or
facsimile signature of its Mayor/CEO and attested by the manual or
facsimile
signature of its Unified Clerk,
and shall have the
corporate seal of the Issuer
affixed thereto or imprinted thereon. In case any officer whose
signature or
facsimile thereof appears on any Bonds
shall cease to be such officer before the
delivery of such Bonds, such signature or
facsimile thereof
shall nevertheless
be valid and sufficient for all purposes, the same as if such person had
remained in office until delivery. Any Bond may be signed by such
persons as
shall be the proper officers to sign such Bond at the actual time of the
execution of such Bond although on the date of such Bond
such persons may
not
have been such officers.
(b) The
Bonds shall have endorsed thereon a Certificate of Authentication
substantially in the form set forth in ARTICLE IV hereof, which shall be
manually executed by the Trustee.
No Bond shall be
entitled to any security or
benefit under this Indenture or shall be valid or
obligatory
for any purpose
unless and until such Certificate of Authentication shall have been duly
executed by the Trustee. Such executed Certificate of Authentication
upon any
Bond shall be conclusive evidence that such
Bond has been duly authenticated and
delivered under this Indenture.
The Certificate of
Authentication
on any Bond
shall be deemed to have been duly executed
if signed by any
authorized officer
or employee of the Trustee, but it shall not be necessary that
the same officer
or employee sign the Certificate of
Authentication on all
of the Bonds that may
be issued hereunder at any one time.
SECTION
206. REGISTRATION, TRANSFER AND EXCHANGE OF BONDS.
(a) The
Trustee shall keep books for the
registration
and transfer of
Bonds as provided in this Indenture.
(b)
Any Bond may be transferred or exchanged only upon the books
maintained by Trustee for the registration and transfer of Bonds
upon surrender
thereof to the Trustee duly endorsed for transfer or accompanied by an
assignment duly executed by the Owner or
his attorney or legal representative in
such form as shall be satisfactory to the Trustee. Upon any such transfer or
exchange, the Issuer shall execute and the Trustee shall authenticate and
deliver in exchange for such Bond a new fully registered Bond or Bonds,
registered in the name of the transferee,
of any denomination or denominations
authorized by this Indenture in an aggregate principal amount equal to the
principal amount of such Bond, of the same series and maturity and bearing
interest at the same rate.
(c) The
Bonds and any interest in the Bonds shall be transferable
only to
a "qualified institutional buyer" as defined in Rule 144A
promulgated
by the
SEC.
(d) In all
cases in which Bonds shall be exchanged or transferred
hereunder, the Issuer shall execute and the Trustee
shall authenticate and
deliver at the earliest practicable time new Bonds in accordance with the
provisions of this Indenture. All Bonds surrendered in any such exchange or
transfer shall forthwith be cancelled by the Trustee.
The Trustee may make
a
charge for every such exchange or transfer of Bonds
sufficient to
reimburse it
for any tax, fee or other governmental charge required to be paid with
respect
to such exchange or transfer, and such charge shall be paid by
the Owner before
a new Bond shall be delivered. The fees and charges of the Trustee for
making
any transfer or exchange hereunder and the expense of any bond printing
necessary to effect such transfer or exchange shall be paid by the Tenant as
Additional Rent (as defined in the Lease). In the event any Owner
fails to
provide a correct taxpayer identification
number to the Trustee, the Trustee may
make a charge against such Owner sufficient to pay any governmental charge
required to paid as a result of such
failure. In compliance with Section 3406 of
the Code, such amount may be deducted by the
Trustee from amounts otherwise
payable to such Owner hereunder or under the Bonds.
Neither the Issuer nor
the
Trustee shall be required to make any exchange or transfer of Bonds (i)
on or
after a Record Date and preceding the Payment Date immediately subsequent to
such Record Date or (ii) in the case of any
proposed redemption of Bonds, during
the 15 days immediately preceding the selection of Bonds
for such redemption or
after such Bonds or any portion thereof has
been selected for redemption.
SECTION
207. PERSONS DEEMED
OWNERS OF BONDS. The person in whose name any
Bond shall be registered as shown on the registration books required to be
maintained by the Trustee by this
Section shall be deemed and regarded as
the
absolute owner thereof for all purposes. Payment of, or on account of the
principal of and premium, if any, and, interest on any such Bond shall be
made
only to or upon the order of the Owner
thereof or his legal representative. All
such payments shall be valid and effectual to satisfy and discharge the
liability upon such Bond, including the interest thereon,
to the extent of
the
sum or sums so paid.
SECTION
208. AUTHORIZATION OF SERIES 2001 BONDS.
(a) There
shall be initially issued and secured pursuant to this
Indenture
a series of Bonds in the aggregate principal amount of $22,075,000 for the
purpose of providing funds to pay Costs of Issuance and
Project Costs,
which
Bonds shall be designated as provided in
SECTION 201 hereof.
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The Series 2001
Bonds shall be dated
February 1, 2001,
shall become due
(subject to prior redemption as hereinafter
provided in ARTICLE
III) and shall
bear interest from the dated date or the
Interest Payment Date to which interest
has been paid at the rates as follows:
TERM BONDS
$680,000 6.750% TERM BONDS MATURING OCTOBER 1, 2005
$1,720,000 7.000% TERM BONDS MATURING OCTOBER 1, 2009
$6,690,000 7.410% TERM BONDS MATURING OCTOBER 1, 2016
$12,985,000 7.650% TERM BONDS MATURING OCTOBER 1, 2022
(b)
Interest on the Series 2001 Bonds shall be payable to the Owners
thereof in accordance with the provisions
of SECTION 204 hereof.
(c) The
Trustee is hereby
designated as the Issuer's Paying Agent for the
payment of the principal of, premium, if any, and interest on the Series
2001
Bonds.
(d) Upon
the original issuance
and delivery of the Series 2001 Bonds, the
effective date of registration of the Series 2001 Bonds shall be February
1,
2001.
(e) The
Series 2001 Bonds
shall be substantially
in the form and
manner
set forth in ARTICLE IV hereof and
delivered to the Trustee for authentication,
but prior to or simultaneously with the authentication and delivery of the
Series 2001 Bonds by the Trustee, there shall be filed with the
Trustee the
following:
(i) an original
or certified copy of the Ordinance adopted by
Issuer's
governing body authorizing the issuance of the Bonds and the
execution
of this Indenture and the Lease;
(ii) an original executed counterpart of this Indenture;
(iii) an original executed counterpart of the Lease;
(iv) an original executed counterpart of the Sublease;
(v) an opinion or
opinions of Bond
Counsel to the effect
that the
Series
2001 Bonds constitute valid and legally binding obligations of the
Issuer and
that the interest on
the Bonds is exempt
from Kansas
income
taxation,
subject to such limitations and restrictions as shall be
described
therein;
(vi) a request and
authorization
to the Trustee on behalf of the
Issuer to
authenticate
the Bonds and to
deliver the Bonds to
the Series
2001
Placement Agent upon
payment to the Trustee, for the account of the
Issuer,
of the purchase
price thereof (and the
Trustee shall be entitled
to
conclusively rely upon
such request and authorization as to the amount
of such
purchase price); and
(vii) such other certificates, statements, receipts and documents
as
the
Trustee or Bond Counsel shall reasonably require for the delivery of
the Series
2001 Bonds.
(f) When
the documents
specified in subsection (e) of this Section shall
have been filed with the Trustee, and when
the Series 2001 Bonds shall have been
executed and authenticated as required by this Indenture, the Trustee shall
deliver the Series 2001 Bonds to or upon
the order of the Series 2001 Placement
Agent, but only upon payment to the
Trustee of the purchase price of the Series
2001 Bonds. The proceeds of the sale of the
Series 2001 Bonds, including accrued
interest and premium thereon, if any, shall be immediately paid over to the
Trustee, and the Trustee shall deposit and apply such proceeds as
provided in
ARTICLE V hereof.
SECTION
209. AUTHORIZATION OF ADDITIONAL BONDS.
(a)
Additional Bonds may
be issued under and equally and ratably secured
by this Indenture on a parity with the Series 2001 Bonds and any other
Additional Bonds Outstanding at any time and from
time to time, upon compliance
with the conditions hereinafter provided in this Section, for any of the
following purposes:
(i) to provide funds to pay the costs of completing the
construction
of the
Project, the total of
such costs to be evidenced by a certificate
signed by
the Authorized Tenant Representative and the Project