12-02-1997 Council Agenda - Laserfiche WebLink

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FROM B&M FAX 612- 334 -8650 VOICE 334 -8520 (TUE)11.25'97 15:23/ST.15:19/NO.3560292541 P 6/8 City within the meaning of any constitutional or statutory limitation. 5, Approval of Forms; Execution. Subject to the approval of, the City Attorney, and the provisions of paragraph 9 hereof, the:forms of the Bond Documents and exhibits thereto and all other documents listed in paragraph 3 hereof are approved substantially in the form submitted. Subject to the provisions of paragraph 9 hereof, the Bond Documents, in substantially the forms submitted, are directed to be executed in the name and =behalf of the City by the Mayor and Manager or Administrator. Subject to the provisions of paragraph 9 hereof, the Bonds are to be executed in the name of and on behalf of the City by the Mayor and Manager or Administrator, and are to be delivered to the Trustee for authentication and delivery to the Purchaser. Any other City documents and certificates necessary to the transaction described above may be executed by the appropriate City officers. Copies of all of the documents necessary to the transaction herein described shall be delivered, filed and recorded as provided herein and in the Loan Agreement and Indenture. 6. official Statement. The City hereby consents to the preparation and distribution of the Preliminary Official Statement dated on or about December _, 1997, and the final Official Statement (collectively, the "Official Statement ") to the Purchaser. The City has relied upon the Company and the pyrr^hager and legal counsel retained by them to assure the accuracy and completeness of the information set forth in the Official Statement and therefore the City has not participated, and will not participate significantly, in the preparation of rhA Official. Statement. The City has not made, and will not make, any independent investigation of the information contained therein, except under the headings "THE CITY" or "TEE ISSUER ", and it assumes no responsibility for the accuracy or completeness of such information. The drafts of the Preliminary official Statements on file with the city as of the date hereof are hereby designated as a "near final" Official Statement for purposes of Rule 15c2 -12 of the Securities Exchange Commission. 7. Issuance. The City shall proceed forthwith to issue the Bonds, in the form and upon the terms set forth in the Indenture and this cresol nti nn . The Bonds shall be issued in a principal amounts, shall be payable or prepayable at such time or times, shall bear interest at such rates and shall be subject to such other terms ann conditions as set forth in the Indenture. The City officers are authorized and directed to execute and deliver the Bonds as prescribed in the Indenture. i6. Records and Certificates. The Mayor, Manager, Administrator and other officers of the City are authorized and directed to prepare and furnish to the Purchaser certified copies of all proceedings and records of the City relating to the Bonds, and such other affidavits and certificates as may be required to 809726.1 Page 15