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AG 2003 07 21
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AG 2003 07 21
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Last modified
3/3/2006 9:37:57 AM
Creation date
11/27/2017 11:41:27 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/21/2003
Board
Board of Commissioners
Meeting Type
Regular
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to the County. The County will cooperate fully in any such contest on the request and at <br />the expense of the Board of Education. <br /> <br /> Except as provided in this Article and except as the County may consent thereto, <br />which consent shall not be unreasonably withheld, the Board of Education shall not, <br />directly or indirectly, create, incur, assume or suffer to exist any mortgage, pledge, lien, <br />charge, encumbrance or claim on or with respect to the Leased Property, other than the <br />respective rights of the Board of Education and the County as herein provided. Except as <br />provided in this Article, the Board of Education shall promptly, at its own expense, take <br />such action as may be necessary to duly discharge or remove any such mortgage, pledge, <br />lien, charge, encumbrance or claim for which it is responsible, if the same shall arise at <br />any time; provided that the Board of Education may contest such liens, charges, <br />encumbrances, or claims if it desires to do so. The Board of Education shall reimburse <br />the County for any expense incurred by the County in order to discharge or remove any <br />such mortgage, pledge, lien, charge, encumbrance or claim. <br /> <br />ARTICLE VIII <br /> <br />BOARD OF EDUCATION'S ASSUMPTION OF COUNTY'S OBLIGATIONS <br /> <br /> 8.1 Assumption of Obligations. The Board of Education hereby assumes all <br />the County's obligations under Financial Contract Sections regarding care and use, <br />utilities, compliance with requirements, security, use and operation, payment of taxes and <br />other governmental charges, property damage insurance, prevention of liens, and <br />regarding notice of damage, repair or replacement from Net Proceeds, and disposition of <br />Equipment; provided, however, that the County hereby undertakes to make the Net <br />Proceeds contemplated by the Financial Contract available to the Board of Education for <br />use in carrying out this obligation, and further provided that the County retains its rights <br />to direct the use of Net Proceeds to prepayment of the County's obligations under the <br />Financial Contract. It is expressly understood that the Board of Education shall not <br />indemnify the County or any party to the Financial Contract for third party claims <br />asserted against any party to the Financial Contract. <br /> <br /> 8.2 Transfer of Rights. In order to allow the Board of Education to carry out <br />its obligations under the Financial Contract, the County hereby transfers its rights under <br />the Financial Contract regarding remodeling of the Facilities, improving the Facilities and <br />installing equipment to the Board of Education. Nothing in this Section, however, shall <br />be construed as in any way delegating to the Board of Education any of the County's <br />rights or responsibilities to make decisions regarding the Board of Education's capital <br />and operating budgets or otherwise covenanting that such funds for such purposes will be <br />appropriated or available. <br /> <br />7 <br /> <br /> <br />
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