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Ordinance 2002-162
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Ordinance 2002-162
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8/19/2013 4:13:28 PM
Creation date
1/25/2006 4:41:03 PM
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CityClerk-Ordinances
Ordinance Number
2002-162
Date (mm/dd/yyyy)
10/10/2002
Description
Negotiate $18.5 Million Loan from Fla. Municipal Loan Counci
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<br />indemnify and save the Dissemination Agent and its officers, directors, attorneys, agents and <br />employees harmless from and against any costs, expenses, damages or other liabilities (including <br />attorneys fees) which it (or they) may incur in the exercise of its (or their) powers and duties <br />hereunder, except with respect to its (or their) willful misconduct or gross negligence. <br /> <br />SECTION 11. Concernine: the Dissemination Ae:ent and the Borrower. <br /> <br />(a) The Dissemination Agent is not answerable for the exercise of any discretion <br />or power under this Continuing Disclosure Agreement or for anything whatever in connection <br />herewith, except only its own willful misconduct or gross negligence. The Dissemination Agent <br />shall have no liability to the Bondholders or any other person with respect to the undertakings <br />described in Section 1 hereof, except as expressly set forth in this Continuing Disclosure Agreement <br />regarding its own willful misconduct or gross negligence. <br /> <br />(b) The Dissemination Agent has no responsibility or liability hereunder for <br />determining compliance for any information submitted hereunder with any law, rule or regulation or <br />the terms of this agreement. The Dissemination Agent shall have no responsibility for <br />disseminating information not delivered to it or giving notice of non-delivery except as specifically <br />required hereunder; and <br /> <br />(c) The parties to this Continuing Disclosure Agreement acknowledge and agree <br />that the Borrower assumes no obligations hereunder other than those specifically assumed by the <br />Borrower herein. <br /> <br />SECTION 12. Termination of this Continuine: Disclosure Ae:reement. This Continuing <br />Disclosure Agreement shall terminate at such time as the Loan Agreement terminates. <br /> <br />SECTION 13. Beneficiaries. This Continuing Disclosure Agreement shall inure solely to <br />the benefit of the Borrower, the Dissemination Agent, the Trustee, the Issuer, the Insurer, the <br />Participating Underwriter and the Bondholders. This Continuing Disclosure Agreement shall not be <br />deemed to inure to the benefit of or grant any rights to any party other than the parties specified in <br />the preceding sentence. <br /> <br />SECTION 14. Counterparts. This Continuing Disclosure Agreement may be executed in <br />several counterparts, each of which shall be an original and all of which shall constitute one and the <br />same instrument. <br /> <br />SECTION 15. Governine: Law. This Continuing Disclosure Agreement shall be governed <br />by the laws of the State of Florida. <br /> <br />8 <br />
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