02-14-1996 Council Agenda - Laserfiche WebLink

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interests of the City in the Loan Agreement which have been assigned to the Trustee under the Indenture; the Bonds shall not constitute a charge, lien, or encumbrance, legal or equitable upon any property of the City except the interests of the City in the IndentAgreement which have b re; the Bonds shall recite sthatdthe Bonds areeissuedr without moral obligation on the part of the state or its political subdivisions, and that the Bonds, including interest thereon, are payable solely from the revenues pledged to the payment thereof; and, the Bonds shall not constitute a debt of the City within the meaning of any constitutional or statutory limitation. 7. Attorney the forms �oftthe Bond rDocuments anddrexhibitstthereto are approved substantially in the form submitted. The Bond in behalfoofsthe City by are directed to the City Administrator. Any other documents yand certificates necessary necessary to the transaction described above shall 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 Bond Documents. 8. The Bonds shall be issued in an aggregate amount not to exceed $3,890,000 and the rates of interest on the Bonds shall be such rates per annum as the Mayor, the City Administrator, the Purchaser, and the Company shall agree to, with such rate or rates not to exceed more than ten percent (10.00a) per annum. The City shall proceed forthwith to issue its Bonds, in the form and upon the terms set forth in the Indenture with the principal amount and rates established as provided in this paragraph. The Bonds shall be sold to the Purchaser at a price to be set forth in the Indenture, plus accrued interest, if any, to the date of delivery. The Mayor and the City Administrator are authorized and directed to prepare and execute the Bonds as prescribed in the Indenture and to deliver them to the Trustee for authentication and delivery to the Purchaser. 9. Mayor and City 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 show the facts relating to the legality of the bonds 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 affidavits, including any heretofore Furnished, shall constitute 312684.1 4 Page 9 9 d 91 IZELI99E 'ON/88 :I l '13/O17: 1 196 ,60 *ZO (Ifld) MEOW 2g SOD Iai Yt08d