Res98 PFA 98-01 - Laserfiche WebLink

Browse Search

thereto or changes therein deemed necessary or advisable by the Chairperson, Executive Director, and the Director of Finance/Treasurer (collectively, the "Authorized Officers"), upon consultation with bond counsel, whose execution thereof shall be conclusive evidence of the approval of any such additions and changes. Such changes and additions shall include, without limitation, the insertion in the Indenture of the final annual maturities and final aggregate principal amount of the Bonds and the final annual interest rates payable with respect to the Bonds. Each of the Authorized Officers are hereby authorized and directed to execute, and the Clerk or the Secretary and the Assistant Secretary are hereby authorized and directed to attest, the final form of the Indenture for and in the name and on behalf of the Authority. The Board hereby authorizes the delivery and performance of the Indenture. Section 2. Approval of Sub-Lease Agreement. The Board hereby approves the sub-lease of the Property from the City and the sub-lease of the Property back to the City pursuant to and in accordance with the Sub-Lease Agreement in substantially the form on file with the Secretary, together with any additions thereto or changes therein deemed necessary or advisable by the Authorized Officers, upon consultation with bond counsel, whose execution thereof shall be conclusive evidence of approval of any such additions and changes. Each of the Authorized Officers are hereby authorized and directed to execute, and the Secretary and the Assistant Secretary are hereby authorized and directed to attest, the final form of the Sub-Lease Agreement for and in the name and on behalf of the Authority. The Board hereby authorizes the delivery and performance of the Sub-Lease Agreement. Section 3. Escrow Agreement. The form of the Escrow Agreement (the "Escrow Agreement"), by and between the Authority and First Trust of California, National Association, as Escrow Agent, presented to this meeting and on file with the Secretary, is hereby approved. Each of the Authorized Officers is hereby authorized and directed, for and in the name and on behalf of the Authority, to execute and deliver said Escrow Agreement in substantially said form, with such changes therein as such officer may require or approve, such approval to be conclusively evidenced by the execution and delivery thereof. Section 4. Contract of Purchase. The form of the Purchase Contract (the "Purchase Contract"), by and betweea the Authority and Dain Rauscher Incorporated (the "Underwriter"), presented to this meeting and on file with the Secretary, is hereby approved. Each of the Authorized Officers is hereby authorized and directed, for and in the name and on behalf of the Authority, to execute and deliver said Purchase Contract in substantially said form, with such changes therein as such officer may require or approve, such approval to be conclusively evidenced by the execution and delivery thereof; provided that the maximum interest rate under such Purchase Contract shall not exceed 5.5%, the principal amount shall not exceed $14,000,000 and the underwriter's discount (excluding original issue discount) shall not exceed 1.25%. Section 5. Official Statement. The Authority hereby approves the preparation of, 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, a preliminary form of Official Statement describing the Bonds. 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 Authority, including as it may be modified by such additions thereto and changes therein as the Authorized Officers shall deem necessary, f:n2~ 1-04~-esau~h. I 2 PAF 98 - 01