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7.B. - Page 9 <br /> Section 5. The Continuing Disclosure Agreement, in the form attached as <br /> Appendix E to the Preliminary Official Statement, is hereby approved. The Authorized <br /> Officers, each acting alone, are hereby authorized to execute and deliver the Continuing <br /> Disclosure Agreement in said form, with such additions thereto or changes therein as are <br /> deemed necessary or advisable by the Director of Finance, the approval of any such <br /> changes to be conclusively evidenced by the execution and delivery by an Authorized <br /> Officer of the Continuing Disclosure Agreement. <br /> Section 6. The City hereby covenants, for the benefit of the Bondowners, to <br /> commence and diligently pursue to completion any foreclosure action regarding <br /> delinquent installments of any amount levied as a special tax for the payment of interest <br /> or principal of the Bonds, said foreclosure action to be commenced and pursued as more <br /> completely set forth in the Fiscal Agent Agreement. <br /> Section 7. All actions heretofore taken by the officers and agents of the City with <br /> respect to the sale and issuance of the Bonds are hereby approved, confirmed and ratified, <br /> and the proper officers of the City are hereby authorized and directed to do any and all <br /> things and take any and all actions and execute any and all certificates, agreements and <br /> other documents, which they, or any of them, may deem necessary or advisable in order <br /> to consummate the lawful issuance and delivery of the Bonds and the refunding of the <br /> Prior Bonds in accordance with this Resolution, and any certificate, agreement, and other <br /> document described in the documents herein approved. <br /> Section 8. This Resolution shall take effect immediately upon its adoption. <br /> * * * <br /> ATTY/RESO.0046/CC RESO APPROVING SALE OF BONDS <br /> REV:05-16-16 JS <br /> Page 5 of 8 <br />