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Authorizing Tax Anticipation Time Warrats for 1990
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Authorizing Tax Anticipation Time Warrats for 1990
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Last modified
11/9/2012 9:04:01 AM
Creation date
11/9/2012 9:04:00 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
2/26/1990
Ord-Res Number
8071-90
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by the City Controller, on behalf of the City, subsequent to the date <br /> of the adoption of this Ordinance in accordance with the terms and <br /> conditions of this Ordinance, and with such Purchase Agreement to set <br /> forth the definitive terms and conditions for such sale, including <br /> the interest rate or rates on the Warrants, which shall not exceed <br /> the maximum authorized rate of interest for the Warrants issued pur- <br /> suant to this Ordinance. The Warrants sold to the Purchaser shall be <br /> accompanied by all documentation required pursuant to the provisions <br /> of Indiana law and the Purchase Agreement, including without limita- <br /> tion an approving opinion of nationally recognized bond counsel, cer- <br /> tification and guarantee of signatures and certification as to no <br /> litigation pending, as of the date of delivery of the Warrants to the <br /> Purchaser, challenging the validity or issuance of the Warrants. The <br /> entry by the City into the Purchase Agreement and the execution of <br /> the Purchase Agreement on behalf of the City by the City Controller, <br /> in accordance with the Ordinance, are hereby authorized, approved and <br /> ratified. <br /> Section 6. The proper officers of the City are hereby authorized <br /> to deliver the Warrants to the Purchaser thereof upon receipt from <br /> such Purchaser of the agreed purchase price, pursuant to the Purchase <br /> Agreement. The Warrants of each purchase of each issue will be deli- <br /> vered as a single parcel at one time or pursuant to any agreement or <br /> understanding with respect to said delivery by and between the City <br /> Controller and the Purchaser of the Warrants. <br /> -7- <br />
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