Res99 13627 - Laserfiche WebLink

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Refunding Bonds, and the Authorized Officers, in coordination with Disclosure Counsel, shall cause sufficient copies of the Preliminary Official Statement and the Official Statement to be substantially derived therefrom to be primed and made available to the Underwriter for use by the Underwriter in connection with reoffering of the Refunding Bonds to the public. Section 6. The City Council hereby authorizes the preparation, execution and delivery to the Underwriter of an Official Statement to be substantially derived from the Preliminary Official Statement, following insertion of the information respecting the Bonds to be established by execmion of the Bond Purchase Agreement. Section 7. The form and substance of the proposed Bond Purchase Agreement on file with the City Clerk is hereby approved. The Council hereby authorizes the making of modifications to said Bond Purchase Agreement, subject to the prior approval of Disclosure Counsel, such approval to be conclusively established by the execution thereof. The Authorized Officers are each hereby authorized to execme and deliver said Bond Purchase Agreement, as modified and subject to the prior attachment thereto of a completed Exhibit A, setting forth the maturity schedule and interest rates for the Refunding Bonds and a schedule of mandatory advance redemption for any term bonds; provided that the Underwriter's discount (excluding original issue discount) shall not exceed $121,500, the average interest rate for the Refunding Bonds shall not exceed 6% per annum, and the principal amount thereof shall not exceed the amount of remaining unpaid reassessments. Section 8. The form and substance of the Escrow Agreement on file with the City Clerk is hereby approved. The Council authorizes the making of modifications to said Escrow Agreement, subject to the prior approval of Bond Counsel, such approval to be conclusively established by the execution thereof. The Authorized Officers are each hereby authorized to execute and deliver said Escrow Agreemem. Section 9. The form and substance of the Paying Agent Agreement on file with the City Clerk is hereby approved. The Council authorizes the making of modifications to said Paying Agent Agreement, subject to the prior approval of Bond Counsel, such approval to be conclusively established by the execution thereof. The Authorized Officers are each hereby authorized to execute and deliver said Paying Agent Agreement. Section 10. The Council hereby authorizes any officer or employee of the City to execute such further documents and to take such further actions as are reasonably and customarily required to accomplish issuance, sale and delivery of the Refunding Bonds and the redemption of the Prior Bonds, including the execution of agreements with the major property owners in the Reassessment District to obtain ongoing disclosure information from such property owners. Section 11. This resolution shall take effect iinmediately upon its adoption. 13627