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14-20 Cedar Glen Bond Ordinance Addendums
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14-20 Cedar Glen Bond Ordinance Addendums
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3/18/2020 2:57:42 PM
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3/18/2020 2:55:23 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
3/23/2020
Bill Number
14-20
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(h) The Underwriter shall have received evidence that Moody's Investors Service has <br /> assigned and not withdrawn a rating of"MIG-1"with respect to the Bonds. <br /> (i) The Underwriter shall have received such additional certificates, proceedings, <br /> instruments and other documents as the Underwriter may reasonably request to evidence <br /> compliance by the Trustee or the Owner with legal requirements of closing, <br /> and to certify the <br /> truth and accuracy, as of the Closing Date, of the representations of the Issuer and the Owner <br /> contained herein and the due performance or satisfaction by the Issuer and the Owner at or prior <br /> to such time of all agreements then to be performed and all conditions then to be satisfied by <br /> each of them. <br /> Section 8. Establishment of Issue Price <br /> (a) The Underwriter agrees to assist the Issuer in establishing the issue price of the <br /> Bonds and shall execute and deliver to the Issuer at Closing an "issue price" or similar <br /> certificate, together with the supporting pricing wires or equivalent communications, <br /> substantially in the form attached hereto as Exhibit E, with such modifications as may be <br /> appropriate or necessary, in the reasonable judgment of the Underwriter, the Issuer and Bond <br /> Counsel, to accurately reflect, as applicable, the sales price or prices or the initial offering price <br /> or prices to the public of the Bonds. <br /> (b) The Issuer will treat the first price at which 10% of the Bonds (the "10% test") is <br /> sold to the public as the issue price of the Bonds. At or promptly after the execution of this Bond <br /> Purchase Agreement, the Underwriter shall report to the Issuer the price at which it has sold to <br /> the public the Bonds. For purposes of this Section, if Bonds mature on the same date but have <br /> different interest rates, each separate CUSIP number within that maturity will be treated as a <br /> separate maturity of the Bonds. <br /> (c) The Underwriter acknowledges that sales of any Bonds to any person that is a <br /> related party to an underwriter participating in the initial sale of the Bonds to the public (each <br /> such term being used as defined below) shall not constitute sales to the public for purposes of <br /> this section. Further, for purposes of this section: <br /> i <br /> "public"means anyperson other than an underwriter or a related party, <br /> ( ) p p <br /> (ii) "underwriter" means (A) any person that agrees pursuant to a written <br /> contract with the Issuer (or with the lead underwriter to form an <br /> underwriting syndicate) to participate in the initial sale of the Bonds to the <br /> public and (B) any person that agrees pursuant to a written contract <br /> directly or indirectly with a person described in clause (A) to participate in <br /> the initial sale of the Bonds to the public (including a member of a selling <br /> group or a party to a third-party distribution agreement participating in the <br /> initial sale of the Bonds to the public), <br /> (iii) a purchaser of any of the Bonds is a"related party"to an underwriter if the <br /> underwriter and the purchaser are subject, directly or indirectly, to (A) <br /> more than 50% common ownership of the voting power or the total value <br /> 8 <br />
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