Res98 13281 - Laserfiche WebLink

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the City pursuant to and in accordance with the Agreement in accordance with the Ordinance No. 2038. Section 3. Notice of Sale. The City Council hereby approves the sale of the Bonds to the Underwriter pursuant to and in accordance with the Purchase Contract, in substantially the form on file with the City Clerk, together with any additions thereto or changes therein approved by the Authority, the execution thereof to be conclusive evidence of such approval. The City Council hereby delegates to each of the Mayor, City Manager and the Director of Finance (collectively, the "Authorized Officers") the authority to accept an offer from the Underwriter to purchase the Bonds from the City; provided, however, that the stated maximum annual interest rate payable with respect to the Bonds shall not exceed five and one-half percent (5.5%) per annum. Section 4. Official Statement. The City Council hereby approves the preliminary form of Official Statement describing the Bonds, the Agreement and the City. Distribution of such preliminary 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 City, including as it may be modified by such additions thereto and changes therein as such Authorized Officer shall deem necessary, desirable or appropriate, and the execution of the f'mal Official Statement by such Authorized Officer shall be conclusive evidence of the approval of any such additions and changes. The City Council also approves the distribution of the final Official Statement by the purchaser of the Bonds. In addition, the City Council hereby authorizes and directs the City Manager and the Director of Finance to execute and deliver to the Underwriter a Continuing Disclosure Certificate, as required by the further provisions of the Official Statement and the Agreement. Section 5. Further Actions. The Mayor of the City, the City Manager, the Director of Finance, the City Clerk, the City Attorney and any and all other officers of the City are hereby authorized and directed, for and in the name and on behalf of the City, to do any and all things and take any and all actions, including execution and delivery of any and all assignments, certificates, requisitions, 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, and the sub-lease of the Property to the Authority and the sub-lease of the Property back to the City. Section 6. Approval of Bond Counsel and Financial Advisor. The employment of Stradling Yocca Carlson & Rauth to serve as Bond Counsel and William Euphrat Municipal Finance, Inc. to serve as financial advisor to the City is hereby approved and authorized. Section 7. Effective Date. This Resolution shall take effect from and after the date of its passage and adoption. f:~22931-04\rescity 1.1 2 1 3 2 8 1