Resolution 24-125 - Laserfiche WebLink

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(e) Contracts for the Project have been or will be made by the City with the approval of the PFA and all other State and federal agencies of whose approval is required. Section 2. Acceptance of Offer; Payment. (a) The City hereby accepts the offer of the PFA to purchase the General Obligation Water Revenue Note, Series 2024 (the "Note"), to be issued by the City in the original aggregate principal amount of $15,996,190 at the rate of interest set forth therein, and to pay therefor the par amount of the Note as provided below, and the sale of the Note is awarded to the PFA. Payment for the Note is to be disbursed in installments as eligible costs of the Project are reimbursed or paid, all as provided in the Project Loan Agreement. The terms set forth in this resolution relating to the Note are intended to be consistent with the provisions of the Project Loan Agreement, and to the extent that any provision in the Project Loan Agreement is in conflict with this resolution, the Project Loan Agreement shall control. (b) The Note is to be issued in the aggregate principal amount of $15,996,190, originally and nominally dated as of the date of delivery as a fully registered Note without coupons. The Note will be in the denomination of the entire principal amount thereof, numbered R-1, and will bear interest and mature in installment amounts as specified in EXHIBIT B attached hereto. (c) The Note is subject to redemption and prior payment as provided in the Project Loan Agreement. (d) Interest and principal in the installment amounts set out in the Note are payable by wire transfer, or if by check or draft of the City or its designated Registrar, mailed no later than five (5) business days prior to the payment date to the registered holder thereof at the holder's address as it appears on the bond register at the close of business on the fifteenth day (whether or not a business day) immediately preceding the interest payment date. Section 3. Date; Denomination; Interest Rate. The Note will be a fully registered negotiable obligation, dated as of date of delivery and issued forthwith. The Note shall be issued in substantially the form attached hereto as EXHIBIT B. Section 4. Execution. The Note is to be executed on behalf of the City by the manual or facsimile signatures of its Mayor and City Administrator, and is to be authenticated by the manual signature of the City Administrator, acting as authenticating agent of the City. In the event of disability or resignation or other absence of any of such officers, the Note may be signed by any officer who is authorized to act on behalf of such absent or disabled officer. If an officer whose signature will appear on the Note ceases to be such officer before the delivery of the Note, such officer's signature will nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. 2