Res03 PFA 03-03 - Laserfiche WebLink

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11/03/2003 Section 5. Purchase Contract. The Authority hereby authorizes 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 Secretary together with any additions thereto or changes therein approved by Authorized Officers, the execution thereof to be conclusive evidence of such approval. The Authority hereby delegates to each of the Authorized Officers, the Authority to accept an offer from the Underwriter to purchase the Bonds from the Authority pursuant to the Purchase Contract; provided, however, that the true interest cost payable with respect to the Bonds shall not exceed five and three-quarters percent (5.75%) per annum, and the and the final maturity shall not exceed twenty-five (25) years. Section 6. 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, 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 7. 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 insurance 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, the lease of the Leased Property from the City and the lease of the Property back to the City, and the defeasance and redemption of the 1991 Bonds. Section 8. Effective Date. This Resolution shall take effect immediately upon adoption. Atty/Reso/Reso. 1433 P FA 03-03 102303 4