Laserfiche WebLink
1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />25 <br />26 <br />27 <br />28 <br />projects to gain better vehicular access to the SBD Airport, (ii) <br />upgrading the aviation facilities located on the SBD Airport by <br />contributing local match funds together with federal grant funds, <br />and (iii) paying the operating deficits created by the ongoing <br />operations of the SBD Airport and the payment of the necessary <br />administrative expenses of the SBIAA; and <br />WHEREAS, Section 11 of the JPA Agreement requires each <br />of the Members to pay their proportionate share of the operating <br />deficits and other debt of the SBIAA as may be assessed by the <br />SBIAA to the respective Members; and <br />WHEREAS, it has become necessary for the SBIAA to <br />obtain funds through the issuance of either tax-exempt notes or <br />the obtaining of a tax-exempt loan or a conventional loan from a <br />commercial lender or other financing institution (the <br />"Financing") to be either underwritten and sold in the municipal <br />finance market or privately placed with a commercial lender or <br />other financing institution for the funding of the ongoing <br />capital improvement budget and the operating deficits of the <br />SBIAA for the 1996-97 fiscal year of the SBIAA for which the <br />financial commitments of the Members will be required to ensure <br />the marketability of the Financing at the best terms available; <br />and <br />-2- <br />