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10190-12 Refinance Waterworks revenue of 2002
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10190-12 Refinance Waterworks revenue of 2002
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Last modified
10/12/2012 12:35:11 PM
Creation date
10/12/2012 12:35:02 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/8/2012
Ord-Res Number
10190-12
Bill Number
53-12
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particular, without alteration or enlargement <br /> or any change whatsoever. <br /> Signature Guaranteed: <br /> NOTICE: Signature(s) must be guaranteed <br /> by an eligible guarantor institution participating <br /> in a Securities Transfer Association recognized <br /> signature guarantee program. <br /> SECTION 10. Sale of Bonds. <br /> (a) The Fiscal Officer is authorized to negotiate the sale of the 2012B Bonds <br /> at an interest rate or rates not exceeding five percent (5%) per annum. The Executive and the <br /> Fiscal Officer are hereby authorized to (i) execute a purchase agreement with the purchaser, and <br /> (ii) sell such Refunding Bonds upon such terms as are acceptable to the Executive and the Fiscal <br /> Officer consistent with the terms of this Ordinance. The final form of the purchase contract shall <br /> be determined by the Executive and Fiscal Officer, upon advice of the City's Bond Counsel and <br /> Financial Advisor and the Executive and Fiscal Officer are hereby authorized and directed to <br /> complete, execute and attest the same on behalf of the City so long as its provisions are <br /> consistent with the Ordinance. <br /> (b) The Fiscal Officer is hereby authorized to appoint a financial institution to <br /> serve as Escrow Trustee (the "Escrow Trustee") for the 2002 Bonds in accordance with the terms <br /> of an escrow agreement to be entered into between the City and the Escrow Trustee (the "Escrow <br /> Agreement"). The Executive and the Fiscal Officer are hereby authorized and directed to <br /> complete, execute and attest the same on behalf of the City so long as its provisions are <br /> consistent with this Ordinance. <br /> (c) The execution, by either the Executive, Fiscal Officer, or the purchaser, of <br /> a subscription for investments of proceeds of the 2012B Bonds to be held under the Escrow <br /> Agreement in a manner consistent with this Ordinance is hereby approved. <br /> (d) Distribution of an Official Statement (Preliminary and Final) when and if <br /> prepared by the Financial Advisor, on behalf of the City, is hereby authorized and approved, and <br /> the Executive is authorized and directed to execute the Official Statement on behalf of the City in <br /> a form consistent with this Ordinance. The Executive or the Fiscal Officer is authorized to deem <br /> the Preliminary Official Statement as "final" for purposes of Rule 15c2-12 promulgated by the <br /> Securities and Exchange Commission. <br /> (e) After the 2012B Bonds have been properly sold and executed, the Fiscal <br /> Officer shall receive from the purchasers payment for the 2012B Bonds and shall provide for <br /> delivery of the 2012B Bonds to the purchasers. <br /> - 15 - <br />
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