Agenda Packets - 1989/09/25 - Laserfiche WebLink

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Section 4. Execution and Delivery 4.01. The Bonds shall be executed by the respective facsimile signatures of Administrator as set forth in the. form of Bond. The seal Mayor and the City Clerk of the issuer approving legal opinion pinion o'fted from the Bonds a' Holmes & Graven, Chartered, of Minneapolis, Minnesota, as bond counsel, shall be printed on the reverse side of each Bond and shall be certified by the facsimile signature of the City Clerk -Administrator. When said Bonds shall have been duly executed and authenticated by the Registrar in accordance with this resolution, the same shall be delivered to the Purchaser upon ,._ anf chall be a full acquittance; and thenPuAeh hsA payment of the purchase price, and the receipt of the City Clerk-Administratore delivered to the rurcia- t•e-application of the purchase money. T„= pn _ shall not be bound to see to the application g the Registrar. not be valid for any purpose until authenticated by o the Bonds, on file with the City 4.02. The Official Statement relating t Clerk Administrator presented to this meeting, is hereby approved, and the furnishing thereof to prospective bidders for the Bonds is hereby ratified end confirmed, insofar as the same relates to the Bonds and the sale thereof. 4.03. If such officers find the same to be accurate, the Mayor and the City Clerk P.dministrator are authorized and directed to Furnish to the Purchaser at the and did not, at the time of sale closing a certificate that, o the best of the knowledge of such officers, the Official Statement does not, at the date of closing, of the Bonds, contain any untrue statement of a material fact or omit 4o state any material fact necessary in order to make the statements made therein, g. the light ° pendingquestioning the Bonds, m the ciac_.. necessary under which they were made, not misleading• Unless litigation shall have been co men a bonds, or the organization of the issuer or revenues pledged for p y the Mayor and the City Clerk incumbency of its officers, at the closing, Administrator shall execute and deliver to the successful bidder a suitable legal opinion of Holmes & certificate as to absencmaterial litigation, and a certificate as to payment for e of and delivery of the Bonds, with the signed approving validity and enforceability of the Bonds. Graven, Chartered, as to the Section 5. Bond Fund and Accounts Appropriations Pled e. 5.01. There is hereby created a special fund of the Issuer designated Fund" nd "Taxable General Obligation Ta Increment Finance D Bond , rector separaseparateand apart f� m Fund") held and administered by the City all other Funds of the issuer. The Bond Fund shall be maintained in the manna specified until all of the Bonds general obligation tax Increment bonds n authorized, any refunding hereaftebonds issued r refund the Bonds, and anyfrom the pledge of tax issued and made payable from the Bond Fund, and the i serest thereon, have been fully paid and the Issuer has been fully reimbursed frthe Increment for any of the principal and interern s'n fhehlsB a^ds Pn id b r,ind there shall general ad valorem taxes levied on u property t •a as the ''Capital Account" be maintained two separate t," respectively. �ely be designs and the "Debt Service Account," rasp Y ie sale Of tl of the proceeds ccount The °f the Bonds deposiunt ted in inmhe Debt Service AcaountsCand lessthe oany ed thereon, shall be credited to the Cspital Account, from accrued interest receiv