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7/17/2007 8:37:02 AM
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12/2/2004 8:45:23 AM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
9176
Resolution Title
Awarding the sale of $2,500,000 General Obligation Improvement Bonds, Series 21; fixing their form and specifications; directing their execution and delivery; and providing for their payment (4/24/95).
Resolution Date Passed
4/24/1995
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<br />Section 5. Authentication of Transcript. <br /> <br />5.01. The officers of the City are authorized and directed to prepare and <br />furnish to the Purchaser and to the attorneys approving the Bonds, certified copies <br />of proceedings and records of the City relating to the Bonds and to the financial <br />condition and affairs of the City, and such other certificates, affidavits and <br />transcripts as may be required to show the facts within their knowledge or as shown <br />by the books and records in their custody and under their control, relating to the <br />validity and marketability of the Bonds and such instruments, including any <br />heretofore furnished, may be deemed representations of the City as to the facts <br />stated therein. <br /> <br />5.02. The Mayor, Finance Director and City Manager are authorized and <br />directed to certify that they have examined the Official Statement prepared and <br />circulated in connection with the issuance and sale of the Bonds and that to the best <br />of their knowledge and belief the Official Statement is a complete and accurate <br />representation of the facts and representations made therein as of the date of the <br />Official Statement. <br /> <br />Section 6. Tax Covenant. <br /> <br />6.01. The City covenants and agrees with the holders from time to time of the <br />Bonds that it will not take or permit to be taken by any of its officers, employees or <br />agents any action which would cause the interest on the Bonds to become subject to <br />taxation under the Internal Revenue Code of 1986, as amended (the Code), and the <br />Treasury Regulations promulgated thereunder, in effect at the time of such actions, <br />and that it will take or cause its officers, employees or agents to take, all affirmative <br />action within its power that may be necessary to ensure that such interest will not <br />become subject to taxation under the Code and applicable Treasury Regulations, as <br />presently existing or as hereafter amended and made applicable to the Bonds. <br /> <br />6.02. The City will comply with requirements necessary under the Code to <br />establish and maintain the exclusion from gross income of the interest on the Bonds <br />under Section 103 of the Code, including without limitation requirements relating to <br />temporary periods for investments, limitations on amounts invested at a yield greater <br />than the yield on the Bonds. <br /> <br />6.03. The City further covenants not to use the proceeds of the Bonds or to <br />cause or permit them or any of them to be used, in such a manner as to cause the <br />Bonds to be "private activity bonds" within the meaning of Sections 103 and 141 <br />through 150 of the Code. <br /> <br />6.04. In order to qualify the Bonds as "qualified tax-exempt obligations" <br />within the meaning of Section 265 (b) (3) of the Code, the City makes the following <br />factual statements and representations: <br /> <br />(a) the Bonds are not "private activity bonds" as defined in Section <br />141 of the Code; <br /> <br />(b) the City hereby designates the Bonds as "qualified tax-exempt <br />obligations" for purposes of Section 265(b)(3) of the Code; <br /> <br />DJX87117 <br />RB200-U <br />
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