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RES 88-037 AUTHORIZING THE SALE AND ISSUANCE OF $10,750,000 HOUSING DEVELOPMENT REVENUE BONDS (ST. ANTHONY LANEL PROJECT), SERIES 1988, OF THE CITY AND THE EXECUTION OF NECESSARY DOCUMENTS
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RES 88-037 AUTHORIZING THE SALE AND ISSUANCE OF $10,750,000 HOUSING DEVELOPMENT REVENUE BONDS (ST. ANTHONY LANEL PROJECT), SERIES 1988, OF THE CITY AND THE EXECUTION OF NECESSARY DOCUMENTS
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12/30/2015 5:44:20 PM
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12/30/2015 5:44:19 PM
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21
SP Folder Name
RES 1988
SP Name
CC MINUTES 09131988
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• hereof . In the absence or disability of the Mayor , any of the <br /> documents authorized by this resolution to be executed may be <br /> executed by the acting Mayor , and in the absence or disability <br /> of the City Manager by such officer of the City who, in the <br /> opinion of the City Attorney, may execute such documents . <br /> 4 . 04 . Official Statement. The use and distribution <br /> of the Preliminary Official Statement and a final official <br /> statement in substantially the same form as the Preliminary <br /> Official Statement is authorized and approved; provided, - <br /> however, that the City has made no investigation of any facts <br /> contained therein and makes no representations as to the <br /> accuracy or completeness of the Preliminary Official Statement <br /> and final Official Statement . <br /> Section 5 . Authentication of Proceedings . <br /> The Mayor , City Manager and City Clerk and other <br /> officers of the City are authorized and directed to furnish to <br /> the Underwriter and bond counsel certified copies of all <br /> proceedings and records of the City relating to the Bonds , and <br /> such other affidavits and certificates as may be required to <br /> show the facts relating to the legality and marketability of <br /> the Bonds as such facts appear from the books and records in <br /> the officer ' s custody and control or as otherwise known to <br /> • them; and all such certified copies, certificates and <br /> affidavits, including any heretofore furnished, shall <br /> constitute representations of the City as to the truth of all <br /> statements contained therein. <br /> Section 6 . Limitations of the City' s Obligations . <br /> Notwithstanding anything contained in the Bonds , the <br /> Loan Agreement, the Indenture, the Bond Purchase Agreement, or <br /> any other documents referred to in Section 1 . 04 , the Bonds <br /> shall not constitute a debt of the City within the meaning of <br /> any constitutional or statutory limitation, and shall not be <br /> payable from nor charged upon any funds other than the revenues <br /> pledged to the payment thereof, and no holder of the Bonds <br /> shall ever have the right to compel any exercise of the taxing <br /> power of the City to pay the Bonds or the premium, if any, or <br /> interest thereon, or to enforce payment thereof against any <br /> property of the City other than those rights and interests of <br /> the City under the Loan Agreement which have been pledged to <br /> the payment thereof, and the Bonds shall not constitute a <br /> charge, lien or encumbrance, legal or equitable, upon any <br /> property of the City other than those rights and interests of <br /> the City under the Loan Agreement which have been pledged to <br /> the payment thereof . The agreement of the City to perform the <br /> covenants and other provisions contained in this resolution or <br /> • the Bonds, the Loan Agreement, the Bond Purchase Agreement or <br /> -6- <br />
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