1986-049 Council Resolution - Laserfiche WebLink

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(d) The City will cause its books and records to be audited at least annually by qualified public accountants and will furnish copies of such audit reports to any interested person upon request. Section 4. Refunding: Findings: Redemption of Refunded Bonds. 4.01. The Refunded Bonds are those $750,000 General Obligation Improvement Bonds of 1982, of the City, dated October 1, 1982, maturing on and after February 1, 1989. It is hereby found and determined that the issuance of the Bonds will result in a reduction of debt service or interest cost to the City on the Refunded Bonds. 4.02. The sum of $ 320,000 received as proceeds from the sale of the Bonds is hereby appropriated and pledged to the General Obligation Improve- ment Bonds of 1982 Debt Service Fund for redemption of the Refunded Bonds. The City Council hereby finds and determines that the funds available and appropriated to the General Obligation Improvement Bonds of 4982 Debt Service Fund will be sufficient, together with the permitted earnings on the investment of said Fund to pay at maturity or redemption all of the principal of, interest on and redemption premium (if any) on the Refunded Bonds. 4.03. The Refunded Bonds maturing on February 1, 1989, and thereafter shall be redeemed and prepaid on February 1, 1987. The Refunded Bonds shall be redeemed and prepaid in accordance with their terms and in accor- dance with the terms and conditions set forth in the form of Notice of Call for Redemption attached hereto as Exhibit C -1 which terms and conditions are hereby approved and incorporated herein by reference. The City Clerk - Treasurer is hereby authorized and directed to forthwith publish the Notice of Call for Redemption in a publication qualified under Section 475.54 of the Act and to send written notices of call to the paying agent for the Refunded Bonds, provided that published notice alone shall be effective. Section 5. Authentication of Transcript; Covenants. 5.01. The officers of the City are hereby authorized and directed to prepare and furnish to the Purchaser and to the attorneys approving the Bonds, certified copies of proceedings and records of the City relating to the Bonds and to the financial condition and affairs of the City, and such other certificates, affidavits and transcripts as may be required to show the facts within their knowledge or as shown by the books and records in their custody and under their control, relating to the validity and market- ability of the Bonds and such' instruments, including any heretofore fur- nished, shall be deemed representations of the City as to the facts stated therein. 5.02. The Mayor, Administrator and City Clerk- Treasurer are hereby authorized and directed to certify that they have examined the Official Statement dated November 11, 1986 prepared and circulated in connection with the issuance and sale of the Bonds and that to the best of their know- ledge and belief the Official Statement is, as of the date thereof, a complete and accurate representation of the facts and representations made therein as it relates to the City.