Opinion ID: 1642699
Heading Depth: 3
Heading Rank: 2

Heading: First supplemental indenture

Text: The Building Authority and Regions Bank entered into the first supplemental indenture, pursuant to which the Building Authority issued the Series 2002 Warrants as described above. The first supplemental indenture, in addition to refunding and retiring the Series 2000 Warrants, authorized the demolition of the existing Conecuh County courthouse and the construction of a new county courthouse on the site of the existing courthouse. The recitals in the first supplemental indenture state: The County has requested the [Building] Authority to acquire the existing county courthouse building (herein called the `Existing Courthouse Building') as well as the land (herein called the `Courthouse Site') upon which the Existing Courthouse Building is situated, to demolish the Existing Courthouse Building, to construct a new county courthouse building (herein called the `New Courthouse Building') on the Courthouse Site[,] to acquire and install various items of furniture, furnishings and equipment (herein called the `New Courthouse Equipment') for use in the New Courthouse Building (the Courthouse Site, the New Courthouse Building and the New Courthouse Equipment being herein together called the `New County Courthouse'). The County has also requested the [Building] Authority to refund and retire the Series 2000 Warrants to enable the County to realize a reduction in its annual payments under the Original Lease. The [Building] Authority has agreed to do so on behalf of the County. Section 3.1 of the first supplemental indenture reads as follows: Pursuant to the provisions of the Act and for the purposes of (a) providing for payment of the costs of demolishing the Existing Courthouse Building, of constructing the New Courthouse Building and acquiring and installing the New Courthouse Equipment for use in connection with the New County Courthouse, and (b) refunding the Series 2000 Warrants, there are hereby authorized to be issued under the Indenture an issue or series of Warrants designated Revenue Warrants (Conecuh County Jail & Courthouse Projects), Series 2002, limited in aggregate principal amount to $8,960,000. (Emphasis added.)