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07-27-09 Common Council Meeting Agenda & Packet
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07-27-09 Common Council Meeting Agenda & Packet
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9/10/2009 2:52:27 PM
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7/23/2009 1:06:53 PM
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City Council - City Clerk
City Council - Document Type
Agendas
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Section VIII. Form of the Bonds. The form and tenor of the Bonds shall be <br />substantially as set forth in Appendix A attached hereto and incorporated herein as if set forth at <br />this place (with all blanks to be filled in properly and all necessary additions and deletions to be <br />made prior to the delivery thereof). <br />Section IX. Issuance Sale and Delivery of the Bonds and the BANS. <br />(a) Generally. The Controller is hereby authorized and directed to <br />have the Bonds and BANS prepared, and the Mayor and the Clerk are each hereby <br />authorized and directed to execute, and attest as appropriate, the Bonds and the BANs in <br />the form and manner herein provided. The Controller is hereby authorized and directed <br />to deliver the Bonds and the BANs to the purchaser or purchasers thereof after sale made <br />and in accordance with the provisions of the Act and this Ordinance, provided that at the <br />time of said delivery the Controller shall collect the full amount which the purchaser or <br />purchasers have agreed to pay therefor, which shall be not less than ninety-nine percent <br />(99%) of the par amount of the Bonds (or such higher percentage of the par value of the <br />Bonds as the Controller, with the advice of the financial advisor of the City, shall <br />determine) plus accrued interest thereon to the date of delivery, if any. The City may <br />receive payment for the Bonds and BANS in installments. The proceeds derived from the <br />sale of the Bonds (or the BANs if such BANs are issued), shall be and are hereby set <br />aside for application to the costs of the Project, and including all authorized costs relating <br />thereto, including the costs of issuance of the Bonds. The authorized officers of the City <br />are hereby authorized and directed to draw all proper and necessary warrants and to do <br />whatever other acts and things that may be necessary or appropriate to carry out the <br />provisions of this Ordinance. <br />-21- <br />BDDB01 5738468v1 <br />
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