Res13 PFA 13-02 - Laserfiche WebLink

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OS/20/2013 final annual interest rates payable with respect to the Bonds. Each Authorized Officer is hereby authorized and directed to execute, and the Secretary is hereby authorized and directed to attest, the final form of the Indenture for and in the name and on behalf of the Authority. The Authority hereby authorizes the delivery and performance of the Indenture. Section 2. Approval of Installment Purchase Contract. The Authority hereby approves the purchase and sale of the Project to the City pursuant to and in accordance with the Installment Purchase Contract in 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 Authority counsel and Bond Counsel, whose execution thereof shall be conclusive evidence of approval of any such additions and changes. Each Authorized Officer is hereby authorized and directed to execute, and the Secretary is hereby authorized and directed to attest, the final form of the Installment Purchase Contract for and in the name and on behalf of the Authority. The Authority hereby authorizes the delivery and perFormance of the Installment Purchase Contract. Section 3. Sale of Bonds. The Authority hereby authorizes the sale of the Bonds by competitive sale pursuant to and in accordance with the Notice of Sale, 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 an underwriter to purchase the Bonds from the Authority pursuant to the Notice of Sale; provided, however, that the final maturity shall not exceed the final maturity of the Refunded Bonds and the net present value savings with respect to the Refunded Bonds shall be at least three percent (3.00%). The Authority further authorizes staff, with the advise of the City's Financial Advisor, to delete provisions in the Indenture and Installment Purchase Contract relating to the future termination of the Reserve Fund if such action is determined to be in the best interests of the Authority and the City. Section 4. Official Statement. The Authority hereby approves the Official Statement in the form on file with the Secretary, together with any additions thereto or changes therein deemed necessary or advisable by the Authorized Officers, 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. Distribution of the 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, upon consultation with Authority counsel, Quint & Thimmig LLP ("Disclosure Counsel") and Bond Counsel, 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. ATTY/RE50.2856/PFA WATER REV BONDS JPA RESO RESO.PFA#13-02 REV:05-06-13 PT MUFF#t 505 Page 3 of 4