Washtenaw County Building Authority Lease Agreement Summary
Lease outlines 40 year term with revenue bonds to fund the project. County duties end upon bond repayment. failure to sell bonds nullifies the contract, but not if bonds are issued. Signatures by Washtenaw Authority Commission and County Board, with notary attestations. Meeting notes show adjournment and committee reports.
MENTIONED IN THIS ARTICLE
Michigan
Washtenaw County Building Authority
Washtenaw
Board of Supervisors
County OF
Washtenaw County
Bent F. Nielsen
Robert M. Harrison
Arliss P. Dennison
County Lease Provisions for Project Funding and Bond Security
The document outlines lease terms between the COUNTY and AUTHORITY for a project funded by revenue bonds. It covers fixed annual rentals, risk of casualty, use of insurance proceeds, liability cover, subletting limits, and remedies for default. It affirms bondholder rights and requires ongoing payments until all bonds are retired. It also notes authority to invest funds for bondholder benefit and the need to maintain insurance and fidelity bonds.
MENTIONED IN THIS ARTICLE
United States of America
Michigan
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