04-08-13 Agenda & Packet - Laserfiche WebLink

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(b) The Fiscal Officer is hereby authorized to appoint one or more financial institutions to serve as Escrow Trustee (each an "Escrow Trustee ") for each of the 1998 Bonds and the 2004 Bonds in accordance with the terms of one or more escrow agreements to be entered into between the City and the Escrow Trustee (collectively, the "Escrow Agreement "). The Executive and the Fiscal Officer are hereby authorized and directed to complete, execute and attest the same on behalf of the City so long as its provisions are consistent with this Ordinance. (c) The execution, by either the Executive, Fiscal Officer, or the purchaser, of a subscription for investments of proceeds of the 2013A Bonds to be held under the Escrow Agreement in a manner consistent with this Ordinance is hereby approved. (d) Distribution of an Official Statement (Preliminary and Final), if necessary, when and if prepared by the Financial Advisor, on behalf of the City, is hereby authorized and approved, and the Executive is authorized and directed to execute the Official Statement on behalf of the City in a form consistent with this Ordinance. The Executive or the Fiscal Officer is authorized to deem the Preliminary Official Statement as "final" for purposes of Rule 15c2 -12 promulgated by the Securities and Exchange Commission. (e) After the 2013A Bonds have been properly sold and executed, the Fiscal Officer shall receive from the purchasers payment for the 2013A Bonds and shall provide for delivery of the 2013A Bonds to the purchasers. (f) The 2013A Bonds, as and to the extent paid for and delivered to the purchaser shall be the binding special revenue obligations of the City, payable out of the Net Revenues. The proper officers of the City are hereby directed to sell the 2013A Bonds to the purchaser, to draw all proper and necessary warrants, and to do whatever acts and things which may be necessary to carry out the provisions of this Ordinance. (g) The Executive and the Fiscal Officer each are hereby authorized to deem final an official statement with respect to the 2013A Bonds, as of its date, in accordance with the provisions of Rule 15c2 -12 of the U.S. Securities and Exchange Commission, as amended (the "SEC Rule "), subject to completion as permitted by the SEC Rule, and the City further authorizes the distribution of the deemed final official statement, and the execution, delivery and distribution of such document as further modified and amended with the approval of the Executive or the Fiscal Officer in the form of a final official statement. (h) In order to assist any underwriter of the 2013A Bonds in complying with paragraph (b)(5) of the SEC Rule by undertaking to make available appropriate disclosure about the City and the 2013A Bonds to participants in the municipal securities market, the City hereby covenants, agrees and undertakes, in accordance with the SEC Rule, unless excluded from the applicability of the SEC Rule or otherwise exempted from the provisions of paragraph (b)(5) of the SEC Rule, that it will comply with and carry out all of the provisions of the continuing disclosure contract. "Continuing disclosure contract" shall mean that certain continuing disclosure contract executed by the City and dated the date of issuance of the 2013A Bonds, as originally executed and as it may be amended from time to time in accordance with the terms thereof. The execution and delivery by the City of the continuing disclosure contract, and the Will ill