B6 Capital Journal, thursday, July 16, 2020
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Legal Notices Legal Notices Legal Notices Legal Noticesnecessary to assign and trans-fer the Ground Lease from theTrustee to the Lessor. Section 6.3. Tax Matters. (a) The County covenants andagrees with the registered own-ers from time to time of theSecond Amended and Restat-ed Lease Agreement that it willnot take or permit to be takenby any of its officers, employ-ees or agents any action whichwould cause the interest com-ponent on the Second Amend-ed and Restated Lease Agree-ment to become includable ingross income for federal in-come tax purposes under theCode and applicable TreasuryRegulations (the"Regulations"), and covenantsto take any and all actionswithin its powers to ensure thatthe basic interest componenton the Second Amended andRestated Lease Agreement willnot become includable in grossincome for federal income taxpurposes under the Code andthe Regulations. (b) The County shall file withthe Secretary of the Treasury astatement concerning the Sec-ond Amended and RestatedLease Agreement containingthe information required bySection 149(e) of the Code. (c) Pursuant to Section 265(b)(3)(B)(ii) of the Code, theCounty hereby designates theSecond Amended and Restat-ed Lease Agreement as "quali-fied tax-exempt obligations" forpurposes of Section 265(b)(3)of the Code. The County here-by represents that it does notanticipate that obligations bear-ing interest not includable ingross income for purposes offederal income taxation underSection 103 of the Code (in-cluding refunding obligationsas provided in Section 265(b)(3) of the Code and including"qualified 501(c)(3) bonds" butexcluding other "private activitybonds," as defined in Sections141(a) and 145(a) of the Code)will be issued by or on behalfof the County and all "subordi-nate entities" of the County in2020 in an amount greater than$10,000,000. ARTICLE VII NOTICE OF REFUNDING Section 7.1. Notice of Refund-ing. Prior to the issuance of theCertificates, notice of theCounty's intention to refund theRefunded Certificates shall beposted on http://emma.msr-b.org and be given, at the di-rection of the Auditor, by therespective paying agents forthe Refunded Certificates, viafirst-class mail to the respec-tive Registered Owners of theRefunded Certificates. Such
tive Registered Owners of theRefunded Certificates. Suchnotice shall be in substantiallythe form as provided in ExhibitA attached hereto and by thisreference made a part hereof. ARTICLE VIII MISCELLANEOUS Section 8.1. Payments Due onSaturdays, Sundays, and Holi-days. In any case where the date ofmaturity or interest on or princi-pal of any Certificate, or thedate fixed for redemption ofany Certificate, shall be a Sat-urday or Sunday or shall be, atthe place designated for pay-ment, a legal holiday or a dayon which banking institutionssimilar to the RegistrationAgent are authorized by law toclose, then the payment of theinterest on, or the principal, orthe redemption price of, suchCertificate need not be madeon such date but must bemade on the next succeedingday not a Saturday, Sunday, ora legal holiday or a day uponwhich banking institutions areauthorized by law to close, withthe same force and effect as ifmade on the date of maturity orthe date fixed for redemption,and no interest shall accrue forthe period after such date. Section 8.2. MiscellaneousActs. The appropriate officers of theCounty are hereby authorized,empowered, and directed to doany and all such acts andthings, and to execute, ac-knowledge, deliver, and, if ap-plicable file or record, or causeto be filed or recorded, in anyappropriate public offices, allsuch documents, instruments,,and certifications, in addition tothose acts, things, documents,instruments, and certificationshereinbefore authorized andapproved, as may, in their dis-cretion, be necessary or desir-able to implement or complywith the intent of this Resolu-tion, or any of the documentsherein authorized and ap-proved, or for the execution ofthe Second Amended and Re-stated Lease Agreement. Section 8.3. Amendment. The County Commission ishereby authorized to makesuch amendments to this Res-olution as will not impair therights of the Lessor. Section 8.4. No Recourse Un-der the Resolution. All stipulations, promises,agreements, and obligations ofthe County contained in thisResolution shall be deemed tobe the stipulations, promises,agreements, and obligations ofthe County and not of any offi-cer, director, or employee ofthe County in his or her individ-
cer, director, or employee ofthe County in his or her individ-ual capacity, and no recourseshall be had for the payment ofthe principal component of orinterest component on the Sec-ond Amended and RestatedLease Agreement or for anyclaim based thereon or on thisResolution against any officer,director, or employee of theCounty or against any officialor individual executing the Sec-ond Amended and RestatedLease Agreement. Section 8.5. Invalidity. If any one or more of the pro-visions of this Resolution, or ofany exhibit or attachmentthereto, shall be held invalid, il-legal, or unenforceable in anyrespect, by final decree of anycourt of lawful jurisdiction, suchinvalidity, illegality, or unen-forceability shall not affect anyother provision hereof, or ofany exhibit or attachmentthereto, but this Resolution,and the exhibits and attach-ments thereto, shall be con-strued the same as if such in-valid, illegal, or unenforceableprovision had never been con-tained herein, or therein, as thecase may be. Section 8.6. Post IssuanceCompliance. The County does herebyadopt Meierhenry Sargent PostIssuance Compliance Manualprocedures with regard to theSecond Amended and Restat-ed Lease Agreement. TheCounty appoints the Auditor asthe chief compliance officer. Section 8.7. Conflicting Reso-lutions Repealed. All resolutions or parts thereofin conflict herewith are, to theextent of such conflict, herebyrepealed. Section 8.8. Effective Date. This Resolution shall take ef-fect from and after its adoption,the welfare of the County re-quiring it. Motion by Weaver and sec-onded by Hohn and upon votebeing taken the following votedAYE: Abernathy, Hohn Inman,Vance and Weaver and the following voted NAY:None
Randy Vance,Chairman
Hughes County Commission
(SEAL)ATTEST:
Jane Naylor,Finance OfficerHughes County,
Finance OfficerHughes County,South Dakota
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