09-28-11 Council Agenda - Laserfiche WebLink

Home Browse Search

Assignment. The Series 20118 Note, the Series 2011 B Loan Agreement, and the Series 2011 B Assignment shall be substantially in the forms on file with the City on the date hereof, and are hereby approved, with such necessary and appropriate variations, omissions, and insertions as do not materially change the substance thereof, or as the Mayor and City Administrator, in their discretion, shall determine, and the execution and delivery thereof by the Mayor and City Administrator shall be conclusive evidence of such determination. The Series 2011 B Note, the Series 2011B Loan Agreement, and the Series 201113 Assignment are directed to be executed in the name and on behalf of the City by the Mayor and the City Administrator. 7. The proceeds derived from the sale of the Series 20128 Note shall be loaned by the City to the Borrower pursuant to the terms and conditions of the Series 2012B Loan Agreement. The loan repayments to be made by the Borrower under the Series 201213 Loan Agreement are to be fixed so as to produce revenues sufficient to pay the principal of premium, if any, and interest on the Series 201213 Note when due. 1110 Loan made pursuant to the Series 20128 Loan Agreement and the City's rights to the loan repayments and certain other rights under the Series 2012B Loan Agreement shall be assigned to the Lender as security for payment of the Series 201213 Note pursuant to the terms of the Series 201213 Assignment. The Series 20I2B Note, the Series 2012B Loan Agreement, and the Series 20128 Assignment shall be substantially in the forms on file with the City on the date hereof, and are hereby approved, with such necessary and appropriate variations, omissions, and insertions as do not materially change the substance thereof, or as the Mayor and City Administrator, in their discretion, shall determine, and the execution and delivery thereof by the Mayor and City Administrator shall be conclusive evidence of such determination. The Series 2012B Note, the Series 2012B Loan Agreement, and the Series 201213 Assignment are directed to be executed in the name and on behalf of the City by the Mayor and the City Administrator. 8. The Assignment of Mortgage shall be substantially in the form on file with the City on the date hereof, and is hereby approved, with such necessary and appropriate variations, omissions, and insertions as do not materially change the substance thereof, or as the Mayor and City Administrator, in their discretion, shall determine, and the execution and delivery thereof by the Mayor and City Administrator shall be conclusive evidence of such determination. The Assignment of Mortgage is directed to be executed in the name and on behalf of the City by the Mayor and the City Administrator. 9. The offer of the Lender to purchase the Series 201113 Note at a price of par is hereby accepted. The offer of the Lender to purchase the Series 2012B Note at a price of par is hereby accepted. 10. The City has not participated in the preparation of any disclosure documents relating to the offer and sale of the Notes and has made no independent investigation with respect to the information contained in any such disclosure documents. The City assumes no responsibility for the sufficiency, accuracy, or completeness of any information set forth in any such disclosure documents. 11. The Mayor, the City Administrator, and other officers of the City are authorized and directed to prepare and furnish to the Lender and to Briggs and Morgan, Professional Association, as bond counsel to the City ("Bond Counsel "), certified copies of all proceedings and records of the City relating to the Notes, and such other affidavits and certificates as may be required to show the facts relating to the legality of the Notes as such facts appear from the books and records in the officers' custody and control or as otherwise known to them; and all such certified copies, certificates, and 4243192v2 9 5