2008_0728_packet - Laserfiche WebLink

Home

the purchaser of an approving legal opinion of Briggs and Morgan, Professional Association, of Saint Paul and Minneapolis, Minnesota, and of customary closing papers, including a no- litigation certificate. On the date of settlement, payment for the Certifi cates shall be made in federal, or equivalent, funds that shall be received at the offices of the City or its designee not later than 12:00 Noon, Central Time. Unless compliance with the terms of payment for the Certifi cates has been made impossible by action of the City, or its agents, the purchaser shall be liable to the City for any loss suffered by the City by reason of the purchaser's non-compliance with said terms for payment. CONTINUING DISCLOSURE On the date of actual issuance and delivery of the Certifi cates, the City will execute and deliver a Continuing Disclosure Undertaking (the "Undertaking") where and er the City will covenant for the benefit of the owners of the Certifi cates to provide certain financial and other information about the City and notices of certain occurrences to information repositories as specified in and required by SEC Rule 15c2-12 (b) (5). OFFICIAL STATEMENT The City has authorized the preparation of an Official Statement containing pertinent information relative to the Certifi cates, and said Official Statement will serve as a nearly final Official Statement within the meaning of Rule 15c2-12 of the Securities and Exchange Commission. For copies of the Official Statement or for any additional information prior to sale, any prospective purchaser is referred to the Financial Advisor to the City, Springsted Incorporated, 380 Jackson Street, Suite 300, Saint Paul, Minnesota 55101, telephone (651) 223-3000. The Official Statement, when further supplemented by an addendum or addenda specifying the maturity dates, principal amounts and interest rates of the Certifi cates, together with any other information required by law, shall constitute a "Final Official Statement" of the City with respect to the Certifi cates, as that term is defined in Rule 15c2-12. By awarding the Certifi cates to any underwriter or underwriting syndicate submitting a proposal therefor, the City agrees that, no more than seven business days after the date of such award, it shall provide without cost to the senior managing underwriter of the syndicate to which the Certifi cates are awarded 100 copies of the Official Statement and the addendum or addenda described above. The City designates the senior managing underwriter of the syndicate to which the Certifi cates are awarded as its agent for purposes of distributing copies of the Final Official Statement to each Participating Underwriter. Any underwriter delivering a proposal with respect to the Certifi cates agrees thereby that if its proposal is accepted by the City (i) it shall accept such designation and (ii) it shall enter into a contractual relationship with all Participating Underwriters of the Certifi cates for purposes of assuring the receipt by each such Participating Underwriter of the Final Official Statement. Dated July 28, 2008 BY ORDER OF THE CITY COUNCIL /s/ William J. Malin n. Clerk