Resolution 8142 - Laserfiche WebLink

Home Browse Search

6. Issuance. The City shall proceed forthwith to issue the Bonds, in the forms and upon the terms set forth in the Indenture and this Resolution, if and to the extent the Borrower, the Lender and the City Officers determine to proceed with the Project, which determination shall be deemed made upon execution of the Financing Documents by the City Officers. The Bonds shall be payable or prepayable at such time or times, shall bear interest at such rates and shall be subject to such other terms and conditions as set forth therein which the Lender, the Borrower and the City Officers shall agree to, which agreement shall be deemed to have been made upon execution and delivery of the Bonds by the City Officers. The City Officers are authorized and directed to execute and deliver the Bonds as prescribed in the Indenture and this Resolution. 7. Records and Certificates. The City Officers and other officers of the City are authorized and directed to prepare and furnish to the Lender 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 representations of the City as to the truth of all statements contained therein. 8. Changes in Forms Approved; Absent and Disabled Officers. The approval hereby given to the various documents referred to above includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by legal counsel to the City and the City Officers; and said City Officers or staff members are hereby authorized to approve said changes on behalf of the City. The execution of any instrument by the City Officers shall be conclusive evidence of the approval of such document in accordance with the terms hereof. In the event of absence or disability of either of the City Officers, any of the documents authorized by this Resolution to be executed may be executed without further act or authorization of the City Council by any member of the City Council or any duly designated acting official, or by such other officer or officers of the City Council as, in the opinion of the City Attorney, may act in their behalf. 9. Future Amendments. The authority to approve, execute and deliver future amendments to Financing Documents entered into by the City in connection with the issuance of the Bonds and consents required under the financing documents is hereby delegated to the City Officers, subject to the following conditions: (a) such amendments or consents do not require the consent of the respective holders of the Bonds or such consent has been obtained; (b) such amendments or consents to not materially adversely affect the interests of the City; (c) such amendments or consents do not contravene or violate any policy of the City, and (d) such amendments or consents are acceptable in form and substance to the counsel retained by the City to review such amendments. The authorization hereby given shall be further construed as authorization for the execution and delivery of such certificates and related items as may be required to demonstrate compliance with the agreements being amended and the terms of this Resolution. The execution of any instrument by the City Officers shall be conclusive evidence of the approval of such instruments in accordance with the terms hereof. In the absence of the Mayor and/or City Administrator, any instrument authorized by this paragraph to be executed and delivered may be executed by the officer of the City authorized to act in his or her place and stead. 10. Payment of Expenses; Indemnification by Borrower. It is understood and agreed by the Borrower that the Borrower shall indemnify the City against all liabilities, losses, damages, costs and expenses (including attorney's fees and expenses incurred by the City) arising with respect to the Project or the Bonds, as provided for and agreed to by and between the Borrower and the City