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05-22-2017 Packet
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05-22-2017 Packet
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5/18/2017 3:17:10 PM
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City Council - City Clerk
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as provided in the Indenture, payable either: (i) on the first day of each month; (ii) quarterly on <br /> January 1, April 1, July 1 and October 1; (iii) semiannually on February 1 and August 1; or (iv) <br /> at maturity, as determined by the Controller with the advice of the City's financial advisor. The <br /> Bonds are subject to optional redemption, prior to maturity, in whole or in part, at the option of <br /> the City, on any date, on seven (7) days' notice to the Trustee, at face value, with no premium. <br /> The Bonds may be issued as term bonds subject to mandatory sinking fund redemption. <br /> Payments on the Bonds are payable in lawful money of the United States of America by check <br /> mailed or delivered to the registered owners or by wire transfer as provided in the Indenture. <br /> The Bonds shall never constitute a general obligation of, an indebtedness of, or a charge against <br /> the general credit of the City as described in the Indenture. <br /> SECTION VI. The Mayor and the Controller are authorized and directed to sell the <br /> Bonds to the purchaser thereof at a price not less than 100%of the par value thereof. The Bonds <br /> shall bear interest at a rate of not to exceed 2% per annum payable either: (i) on the first day of <br /> each month; (ii) quarterly on January 1, April 1, July 1 and October 1; (iii) semiannually on <br /> February 1 or August 1; or (iv) at maturity, as determined by the Controller with the advice of <br /> the City's financial advisor. The first interest payment date shall be set forth in the Indenture. <br /> Interest on the Bonds shall be calculated on an average daily balance basis. <br /> SECTION VII. The Mayor and the Controller are authorized and directed to execute, <br /> attest, affix or imprint by any means the City seal to the documents constituting the Financing <br /> Agreement approved herein on behalf of the City and any other document which may be <br /> necessary or desirable to consummate the transaction, including the Bonds authorized herein. <br /> The Mayor and the Controller are hereby expressly authorized to approve any modifications or <br /> additions to the documents constituting the Financing Agreement which take place after the date <br /> -4 - <br /> 1\11852)54.5 <br />
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