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 | Board of Visitors minutes May 25, 1990 |  |
Section 2. It is hereby found, determined, and declared that, based upon responsible engineering and economic estimates and advice of appropriate officials of the University, as shown on the Financial Feasibility Study attached hereto as Exhibit A, the anticipated revenues received from the charges and surcharges pledged herein will be sufficient to pay Allocated Current Expenses, the principal of, premium, if any, and interest on the Bonds issued to finance a portion of the Project as the same become due, and debt service on any outstanding obligations which are secured by the charges and surcharges pledged herein so long as the aggregate amount of debt service actually payable in any bond year on the Bonds issued to finance a portion of the Project does not exceed the amounts assumed in the Feasibility Study, unless the University provides the Governor and the Treasury Board of the Commonwealth of Virginia with satisfactory evidence that the charges and surcharges pledged herein will also be sufficient to pay the additional amount of actual debt service which for any bond year exceeds the amount stated above.
| Board of Visitors minutes May 25, 1990 | |