Res17 PFA 17-01 - Laserfiche WebLink

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01/23/2017 to purchase the Bonds from the Authority; 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 hereby authorizes the City Manager (or her designee) to determine, after consultation with the City's Municipal Advisor, bond counsel and disclosure counsel, whether the Bonds should be sold on a competitive basis or on a negotiated basis, with the determination to be based upon which sale method is likely to produce the lowest cost of borrowing. The Authority hereby approves the Notice of Sale in substantially the form on file with the Secretary, together with such additions thereto and changes therein as the Authority counsel and bond counsel shall deem necessary, desirable or appropriate. The Authority hereby approves the Bond Purchase Agreement in substantially the form on file with the Secretary, together with such additions thereto and changes therein as the Authority counsel and bond counsel shall deem necessary, desirable or appropriate. 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.0010/PFA RESO AUHTORIZING WATER REVENUE REFUNDING BOND SERIES 2017 REV: 01-19-17 JS Page 3 of 4 RESO. NO. PFA -17-01 MUFF NO. 505