Authorizing SAle of $3,000,000 Economic Development Revenue Bonds Beatrice Foods Co

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of and on behalf of the City, a Bond Purchase Agreement in substantially the form submitted to this Common Council, which is hereby approved in all respects. Section 9. Offering Memorandum. The Offering Memorandum to be dated as of the effective date of this Bond Ordinance and the distribution thereof to the initial purchasers of the Bonds be, and it hereby is, approved. The use by the Underwriter of the said Offering Memorandum is hereby approved and the use of the Preliminary Offering Memorandum is hereby ratified and confirmed as the official act of the City. Section 10. Election Under Internal Revenue Code. The City hereby elects to have the provisions of Section 103(b)(6)(D) of the Internal Revenue Code of 1954 apply to the Series 1983 Bonds. The Mayor of the City is hereby authorized to execute and file with the Internal Revenue Service a certificate evidencing such election. Section 11. General. The Mayor, City Clerk, and City Controller and other officials and employees of the City be and they are each hereby authorized and directed, in the name and on behalf of the City, to execute any and all instruments, perform any and all acts, approve any and all matters, and do any and all things deemed by them, or any of them, to be necessary or desirable in order to carry out the purposes of this Bond Ordinance (including the preambles hereto), the acquisition and construction of the Project by the Company, the issuance and sale of the Series 1983 Bonds, and the securing of the Series 1983 Bonds under the Indenture. Section 12. Effective Date. This Bond Ordinance shall be in full force and effect immediately upon its adoption by the Common Council and approval by the Mayor.