2015 05-19 CC PACKET - Laserfiche WebLink

Home

7.03. dot l'riN,ate.rl ivityIL, s.: 'rlTe City further covenants not to use the proceeds of the 1:3onnt.s.or to cause. or petin it them o r any of thern to be used, ill such a manner as to cause the: Bond,; ) bt " jirivatc activity bonds'- within .the ineanitnb crf Sections 1.01 and. 141 through 1')0 of rile Code. 7.04, fZualiiicd "f ax Exempt_.C)bli �a iq�s. In order t:o qualilz the Btmds as `'qual.ifieci tax - a within rile meaning .of Section 265(b)(3) .of the Coify, the City make. the following f=tlal statetnents and representations: (a) the -Bonds are not '`pxivato:activity.boti6"*as defined in Section 14*1 ofthe Code-., (b) the City he:reb.v dcsiknates the [land,, as "qualified -tax-e.<empts obligaticoris" for' purposes of Section?65(h)(3) of the Cade.; (c) the rea.soriably anticipated arilount of-tiik-exetolpt. obligations (other than private. activity bonds which. are. not. qualified 501{c)(3) bands) which will be issued by theiiy (and all 6ubordihntc entities of the City) during caiet)dar year 2015 miill not exceed $10;000,000; and (d) not more than t 10,0.00,000 ofobligations issued by the City during calendar year 201 s have* been designated for purposes of Section 265(b)(3) of tlne. Code. 7.05. Prot edural RecJgL ;penis. The City will use its best efforts to rornply cvifh any f'ederal procedural requirements which spay apply in order to effectritite the designations trade. bV this se ction. Serrtit)tr S: Bml_f-.ntrv__ System; >.imted_Ul�littio+3 of airy:; 8.01: Tlne__nepositorv�"t_fttst 'd an f. The Bonds will be. filithilly issued .ill the form of .a separate .single .typewritten or printed fully registered Bond for each Of the tnaturiticS lin forth in Section .1.04 hereof Upon initial isstiance, the ownership of each such Bond will be registered. in the re�*istration. books kept by the Registrar in the (name of C:ed : &` Co., as non(inee. for The Depository Trust Company, i\cw York, 'New York, and its successors and assigns ("DTC'`). Except as provide d in this section, all o-f the outstanding [fonds. will br registered in rile registraticin:.books kept by the Registrar in the naive of ('ede & Cq , as nont.inec: cif l)TC. 8.U3. Pal.ticio-Ifts. With respect to Bonds. reglstcied in the registration books kept by the Registrar in the name of Cede &. Co., as nominee cif DIV, the City. tiie Registrar and the Payincy Agent will .have no res.potlsibili.ty or.ol)1ibation. to any broker dealers, banks and Tither financial institutions. frcarnl time to linie lot- which D-TC holds. Bonds as securities depository (the "Participants`') or to any other person on behalf' of which a Participant holds an interest ill (he.. Bonds. including but. not limited to any resporrs.iWlity or o.bIigation with respect to (i) die accuracy- of the records of DTC..C,ede & Co. or any Participant with re -specs to any .os� nership interest in the fit uds.. (ii) the delivery to any Participant or any ether person (other than a registered owner of Bon&, as shown !�y the registration brooks kupi ley t.il:e Registrar). of any notice with respect .to the Borlds, ineluding; ally notice of redemption. (�r (iii) the pityrnent' to any Participant or any other' person, other (hall a registered owner tot` f3oirds. of an anraunf with respect to principal of, premium_ it any, or interest on the Bonds. 'Cite City.. the Registrar and. the Paying Agent may treat and consider the person in Nvhose name each Bond is registered i:n the registration I�o.oks kept hy:the Re(,istrar.as tilt: holder and absolute. owner of tick Rood for the purpose of payment of princip.il. premium and interest with respect to such Bondfor the purpose of registering transfers with respect to uch Bonds, and for all other purposes. The Paying Agent wil.1 pay all principal (if. premium, if an%. and interest on the Bonds only to or on the order of the respective reg�istem-d owners. as shown in the, registration books kept by lilt: Registrar. mild all such paytnents �vi.Il be. valid and effectual to frilly satisfy ai{il ili�chrirgc the CitS 's obligations with respect to payment of principal of,, premitrill. it anv. or interest I,.,JIii%� i,.'.f , !,4o')? 10