Agenda Packets - 1989/09/25 - Laserfiche WebLink

Home Browse Search

charge that may be imposed in relation thereto. Every new Bond issued pursuant to this subsection in lieu of any destroyed, lost, or stolen Bond shall constitute an original additional contractual obligation of the Issuer, whether or not the destroyed, lost, or stolen Bond shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Resolution equally and proportionately with any and all other Bonds duly issued hereunder. The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Bonds. Section 4. Execution and Delivery 4.01. The Bonds shall be executed by the respective facsimile signatures of ,dim:n:Jta-aw, ,,.r u+ rr r+wat forth in the fnrm of Rnn.j Thp opal ulayUl' and me City Clerk-nWuuu of the Issuer may be omitted from the Bonds as permitted by law. The text of the approving legal opinion of 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 Purchas?r upon payment of the purchase price, and the receipt of the City Clerk -Administrator delivered to the Purchaser thereof shall be a full acquittance; and the Purchaser shall not be bound to see to the application of the purchase money. The Bonds shall not be valid for any purpose until authenticated by the Registrar. 4.02. The Official Statement relating to the Bonds, on file with the City Clerk -Administrator presented to this meeting, is hereby approved, and the furnishing thereof to prospective bidders for the Bonds is hereby ratified and 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 -Administrator are authorized and directed to furnish to the Purchaser at the closing a certificate that, to the best of the knowledge of such officers, the Official Statement does not, at the date of closing, and did not, at the time of sale of the Bonds, contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading. Unless litigation shall have been commenced and be pending questioning the Bonds, revenues pledged for payments of the bonds, or the organization of the issuer or incumbency of its officers, at the closing, the Mayor and the City Clerk - Administrator shall execute and deliver to the successful bidder a suitable certificate as to absence of material litigation, and a certificate as to payment for and delivery of the Bonds, together with the arbitrage certificate referred to below and the signed approving legal opinion of Holmes & Graven, Chartered, as to the validity and enforceability of the Bonds and the exemption of interest thereon from federal and Minnesota income taxation (other than Minnesota corporate and financial institution franchise taxes measured by net income) under present laws and rulings.