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Last modified
7/17/2007 8:38:08 AM
Creation date
12/2/2004 9:13:14 AM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
9392
Resolution Title
Providing for the issuance and sale of revenue bonds for Presbyterian Homes of Minnesota, and authorizing the Mayor and City Manager to sign the Application for the Approval of the Industrial Bond Project (3/17/97).
Resolution Date Passed
3/17/1997
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<br />therein set forth, to purchase the Bonds at the purchase price <br />set forth in the Bond Purchase Agreement, and said purchase price <br />is hereby accepted. The Mayor, City Manager and other City <br />officers are authorized and directed to prepare and execute the <br />Bonds as prescribed in the Indenture and to deliver them to the <br />Trustee, together with a certified copy of this Resolution and <br />the other documents required by Section 2.02 of the Indenture, <br />for authentication, registration and delivery to the Underwriter. <br />As provided in the Indenture, each Bond shall contain a recital <br />that it is issued pursuant to the Act, and such recital shall be <br />conclusive evidence of the validity and regularity of the <br />issuance thereof. <br /> <br />6. Official Statement. The City hereby approves the form <br />of and consents to the circulation by the Underwriter of the <br />Official Statement in offering the Bonds for sale; provided, <br />however, that the City has not partièipated in the preparation of <br />the Official Statement or independently verified the information <br />in the Official Statement and takes no responsibility for, and <br />makes no representations or warranties as to, the accuracy or <br />completeness of such information. <br /> <br />7. Certificates. etc. The Mayor, City Manager and other <br />officers of the City are authorized and directed to prepare and <br />furnish to bond counsel and the purchaser of the Bonds, when <br />issued, certified copies of all procèedings and records of the <br />City relating to the Bonds, and such other affidavits and <br />certificates as may be required to show the facts appearing from <br />the books and records in the officers custody and control or as <br />otherwise known to them; and all such certified copies, <br />certificates and affidavits, including any heretofore furnished, <br />shall constitute representations of the City as to the truth of <br />all statements contained therein. <br /> <br />8. Designation of Oualified Tax-Exempt Obligations. In <br />order to qualify the Bonds as "qualified tax-exempt obligations" <br />within the meaning of Section 265(b) (3), of the Code, the City <br />hereby makes the following factual statements and <br />representations: <br /> <br />(a) the Bonds are issued after August 7, 1986; <br /> <br />(b) the Bonds are not "private activity bonds" as <br />defined in Section 141 of the Code treating "qualified <br />501(c) (3) bonds" as not being private activity bonds; <br /> <br />(c) the City hereby designates the Bonds as "qualified <br />tax-exempt obligations" for purposes of Section 265(b) (3) of <br />the Code; <br /> <br />346051. 1 <br /> <br />7 <br />
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