AgdaPkt 2015-04-13 Closed and Joint SA and PFA REVISED 04_10_2015

Browse Search

8.A. - Page 12 Authorized Officers, the execution thereof to be conclusive evidence of such approval. The Authority hereby delegates to each of the Authorized Officers, the authority to accept an offer from an underwriter to purchase the Bonds from the Authority pursuant to the Notice of Sale; provided, however, that the final maturity date of the Bonds shall not exceed the final maturity date of the Refunded Bonds and the net present value savings with respect to the Refunded Bonds shall be at least three percent (3.00%). The Authority further authorizes staff, with the advice of the City's MSRB-registered Municipal Advisor, to delete provisions in the Indenture and Installment Purchase Contract relating to the future termination of the Reserve Fund if such action is determined to be in the best interests of the Authority and the City. Section 5. Official Statement. The Authority hereby approves the Official Statement in the form on file with the Secretary, together with any additions thereto or changes therein deemed necessary or advisable by the Authorized Officers, and hereby authorizes the Authorized Officers to deem final within the meaning of Rule 15c2-12 of the Securities Exchange Act of 1934 except for permitted omissions. Distribution of the Official Statement to prospective purchasers of the Bonds is hereby approved. Each of the Authorized Officers are hereby authorized to execute the final form of the Official Statement, on behalf of the Authority, including as it may be modified by such additions thereto and changes therein as the Authorized Officers, upon consultation with Authority counsel, Quint & Thimmig LLP ("Disclosure Counsel") and Bond Counsel, shall deem necessary, desirable or appropriate, and the execution of the final Official Statement by the Authorized Officers shall be conclusive evidence of the approval of any such additions and changes. The Authority hereby authorizes the distribution of the final Official Statement by the purchaser of the Bonds. Section 6. Official Action. The officers and staff of the Authority are hereby authorized and directed, for and in the name and on behalf of the Authority, to do any and all things and take any and all actions, including negotiations for purchase of bond ratings, bond insurance or debt service reserve fund surety bond resulting in present value savings and execution and delivery of any and all assignments, certificates, requisition, agreements, consents, instruments of conveyance, warrants and other documents, which they, or any of them, may deem necessary or advisable in order to consummate the lawful issuance, sale and delivery of the Bonds, the payment of issuance costs incurred with respect to the Bonds, and the sale of the Project to the City. Section 7. Effective Date. This Resolution shall take effect immediately upon adoption. ATTY/RESO.3070/CC RESO PFA AUTHORITY REV:03-30-15 MLG Page 3 of 4