2015 Resolutions - Laserfiche WebLink

Home

apt .9n their behalf, shall without further act or authorization of tlie. Council do all things and: execute all instruments and documents required to be done or executed by such absent or disabled officers. The execution.of:any instrument by the appropriate officer or officers of 'the. City herein authorized shall be conclusive evidence of the approval of such doeuments in accordance with the terms hereof: 3:4 Qualified Tax Exempt Ol?li ation. in order to qualify the tax-exempt portion of the Note :as W 'qualifed tax-exempt obligation" within the meaning of Section 265(b)(3) of the Internal Revenue Code of 198.6, as amended (the "Code".), the City *hereby makes the following factual statements and representations; (a) the Note will be issued -after August 7,1986; .(b) 'the Note is not treated as a "private activity bond" under Secfion .265.(b)(3). of the Code; (0) the City hereby designates the tax-exemlrt portion. of* the Note as .a qualified flax -exempt obligation for purposes of section 20.5(b)(3) of •the Code; (d) the reasonably anticipated amount of tax-exempt obligations. (othei than obligations described in clause (ii) of Section 265(li)(3)(C) of the Code) which will be issued by the. City. (and all. entities whose obligations will be aggregated with those of the City) during the calendar year.2015 will not exc; ed.$10,000,000; and (e) not more. than $10,060,000 of obligations issued by. the. City during. th`e. calendar year.2015. have been designated .for purposes of Secdon.2.65(b)(3) of the Code. 429)1v1 A MA335-7