Resolution 4901 - Laserfiche WebLink

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-- . . (f) Resolution, for the deposit and investment within the Escrow Account thereunder of proceeds of the Bonds for subsequent disbursement by the Escrow Agent thereunder. The Council desires that the Bonds be issued in Book Entry Only Form, as hereinafter described. 2. Acceptance of Offer. The offer of FBS Investment Services, Inc. (the "Purchaser"), to purchase the City's $ 2,770,000 Taxable General Obligation Tax Increment Refunding Bonds, Series 1996A, dated March 1, 1996 (the "Bonds", or individually a "Bond"), at the rates of interest and upon the other terms set forth in this Resolution, and to pay therefor the sum of $2,751,995.00 plus interest accrued to settlement, is hereby accepted. 3. Title: Original Issue Date: Denominations: Maturities. (a) The Bonds shall be titled "Taxable General Obligation Tax Increment Refunding Bonds, Series 1996A," shall be dated March 1, 1996, as the date of original issue and s~all be issued forthwith on or after such date as fully registered bonds. The Bonds shall be numbered from R-1 upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity. The Bonds shall mature on February 1 in the years and amounts as follows: Year Amounts 1997 $260,000 1998 255,000 1999 270,000 2000 285,000 2001 300,000 2002 315,000 2003 .335,000 2004 355,000 2005 395,000 (b) Book Entry Only System. The Depository Trust Company, a limited purpose trust company organized under the laws of the State of New York, or any of its successors to its functions hereunder (the "Depository"), will act as securities depository for the Bonds, and to this end: (i) The Bonds shall be initially issued and, so long as they remain in book entry form only (the "Book Entry Only Period"), shall at all times be in the form of a separate single fully registered Bond for each maturity of the Bonds; and authorized denominations for each maturity of Bonds shall be deemed to be limited 311176.1 3