Laserfiche WebLink
arr 7.B. - Page 12 <br /> payments with the amounts so deposited on the 2003 Bonds and to redeem the <br /> 2003 Bonds on July 15, 2013. <br /> Joint Powers Authority Resolution <br /> The Joint Powers Authority Resolution approves the financing documents to <br /> which the PFA is a party and authorizes and directs authorized officers of the <br /> PFA to take any and all actions necessary to complete the transaction relating <br /> to the refunding of the 2003 Bonds. <br /> City Resolution <br /> The City Resolution authorizes a maximum refunding lease amount of <br /> $3,325,000, authorizes the City Manager to execute the Lease Letter <br /> Agreement to effect the refunding of the 2003 Bonds so long as the refunding <br /> produces net present value savings of at least 3% of the amount of the <br /> refunding lease, and approves the financing documents. It further authorizes <br /> and directs authorized officers of the City to take any and all actions necessary <br /> to complete the transaction relating to the refunding of the 2003 Bonds. <br />