Summary
The 2010 Bond Issuance Documents detail the issuance and administration of bonds by the Pennsylvania Intergovernmental Cooperation Authority (PICA), with Meridian Bank serving as the trustee. The document includes extensive legal provisions governing the bonds, including authorization procedures, bondholder rights, redemption rules, and the financial mechanisms ensuring timely payment. It also outlines the structure of various trust funds established to manage bond revenues, including debt service and reserve accounts. Additionally, it specifies covenants regarding tax compliance, investment of funds, and conditions under which additional bonds can be issued. The indenture ensures that the bonds remain limited obligations backed by pledged revenues, explicitly avoiding any general obligation commitment from the Commonwealth of Pennsylvania or the City of Philadelphia. The document also defines the mechanisms for default, trustee responsibilities, and remedies available to bondholders, ensuring the structured and legally compliant administration of bond funds.