res_9083 - Laserfiche WebLink

Home

1.03 Documentation. Forms of the following have been prepared and submitted to this Council and are hereby directed to be filed: (a) the Indenture; (b) the Loan Agreement; (c) a form of Bond (attached as Exhibit A to the Indenture); (d) the Mortgage; (e) the Bond Purchase Agreement; and (f) the Guaranty. Section 2. Findings and Approval of Documents. Based on the foregoing, the City council hereby determines that issuance of the Bonds furthers the purposes of the Act and approval of the Bonds and the transactions herein contemplated are in the public interest of the City. The forms of each document listed in Section 1.03 are hereby approved. Section 3. Official Statement. The city Council has been presented with the form of the Preliminary Official Statement and hereby consents to the use of the preliminary Official Statement and consents to the use of a Final Official Statement in substantially the form of the preliminary Official Statement. The city has not reviewed or participated in the preparation of the Preliminary Official Statement or the Final Official Statement, has made no independent investigation with respect to the information contained therein and assumes no responsibility for the accuracy or completeness of such information. Section 4. The Bonds: Terms. Sale and Execution. 4.01 Authorization: Price. The City Council hereby authorizes the issuance of the Bonds bearing the interest rate or rates as negotiated between the Borrower and the Underwriter (provided the average weighted interest rate shall not exceed 8.50% per annum) and the sale thereof to the Underwriter at the price and upon the terms contained in the Bond Purchase Agreement. 4.02 Terms. All terms of the Bonds, including their interest rates, series, dates, maturity, place and medium of payment, registration privileges, redemption terms, manner of execution, form and other terms, covenants and conditions shall be as provided in t.he Indenture, which is hereby incorporated in its entirety herein and shall constitute a part of this Resolution; provided that the Bonds shall be subject to maturity or mandatory sinking fund redemption commencing in 1996 t.hrough final maturity in amounts that shall cause annual scheduled payments of principal and interest to be approximately level.