1988 Resolutions - Laserfiche WebLink

Home Browse Search

Section 6. Authentication of Transcript. 6.01. The offic.r. of the Clty are hereby .uthorized 8Dcl dlr.cted to pr.par. and ful"n1.h to the Purcha.er and to the attorney. .pprov1nl the Bonds, c.rtified copi.. of proc..dloS_ and r.cord. of the Clty rel.tinl to tha Bond. and to the- f1oanci.l condition and .ff.lr. of the City, and such other certlficate., .ffldavit_ and tr.n.c~ipt. .. ..y be r.quired to .how the fact. within thair kDowl.dS. or a. shown by the books and r.cord. in th.ir cu.tody and und.r th.lr control, r.l.tln. to the v.lidity and-market- . abillty of the Boncl. and such 1o.trullent., lncludlo. any har.tofor.. tar- ni.h.d, aball b. d....dr.pr..ent.tion. of the City .. to the f.ct.- .tat.d th~lo. . 6.02.. It 1. d.t.min.d th.t no comprehen.lve- offlcl.l. atateaent or proap.ctua ha. b.. prep.r.d: or clrculat.d by the Clty 10 ~OIIIlectloa v1th the ul.. of the Boncla and. that the Purch...r baa aade it. own tnveatipt1oa. c:oacernloc the City .. ..t. forth ln an 1.DVutment l.tt.r of ev:.. elate,. ~ec.lpt of whlch 1. her.by acbovled..d. Section 7.. SP.cial 'fax Covenllllt. 7.01.. (a) 'fhe. City COYenaDta IIIld .ar.e. with the holder. &0. t:1IIe. to t1aa of the B'oncl. ebat it wO.J. not take or pera1t to be taka ir an)" of ita offlcfta,. ~ or .._te any actlon which. would c.ua. the- 1.Iltereat:. .. th.. BoDd.. to.~ subject: to taxatlO1L. WlCl.r the Int.rnal leYenue COder of 1986.. ... aaeDdect (the C'od.).. 11II4 th. 'rreuU)" leau1&tlon. pr..u.ated: thereuncler,., 1Jt.. eff.ct at the t:De of sum actlo_.. acl that it: vtU. taka or c:ause ita offlc:era., .-ploy.e. Gr' aaent. to t.ke,. all. affirmative act1oa; 1I1t"i~ ita power that: ...,... b. .ceaaar,. to: euur.. that auch tnunat wi1J:' Ilot: becoaa Rbjeet: ~. taxattoD.: WlCler the Code and:' appllcabl.. '1.'r..~ Jt.aulati~ _ prea_tl.y afat1.llC or _ h.reafter aencl.cr anct: ...... appU- cable to' the B'0Ilda.. (h,) the. City- ahall. c:oIIply _tit requtr...nta nec..A1:Y' 1IDCIer- the Cod. to: _tabltak and. aa1nta1n the Bclua10ll froa &rOs. mc.. of th.. 1.Ilter..a: OIl. the BoDcl. UDder Sec:d.oa 103' of the Code, 1.Ilclucltac, Rthout. - 1:.f.1I1tadOll> req~t. relatiDe to' tapor&r1' per10da for 1.IlY_eaea..... I1It1ead.ona cnr DDanta 1.DYeat8<<t at: . )"ie14' arnt.r tIum the yie14 OIl; the ....." a4 the- nbae. of acea_ iDv..tlleDt. eam1J:lp', to the UD1tect Stat.. ff the' IfoDCI...(toa.th.r wt:tIr other ob11..t:1on. zeuonalJI,. exp.ct.d to .. tuue4' 1.Il, calendar year 1988) BC.eeI' the _ll-t..u.r Bc.ptlon -.oune of. .5.000,,000.. Por purpo.... of qua11fy1Da for the ~l ta.u.r exceptiOIt' to the federa.J: arb:1tra.e rebate requlr_nt., the City b.r.by f1ncls... d.ter- a1.Ilea 81l4l.. cI.cl.rea that: the aarept.. face 8IIOunt of all tax-exelllpt bond. (other than private activlty bonds) 1..u.d by the City (and all 8U~rcl1Dat. entiti.. of the City) dur1.lla die calend.r year 1.Il which the JIODda are taau.d and out.t.nclloa at one t1ae- ta not reasonably BPSct.d to exc..d ",000,000.. all withln the --:lna of Sectlon 148(f) (4) (C) of the COd.. , 7.02. The Clty further cov.nanta not to us. the proCHU of the Boncls or to c.use' or pera1t th_ or any of th.. to b. used, :lD .uch _._.r .. to c.use the Bond., to b. "priv.te .ctivity bonds" wlthin the .ani. of S.etlou 103ancl 141 throUlh ISO of the COc:le.