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CC RES 92-033 RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF HOUSING DEVELOPMENT REFUNDING REVENUE BONDS (AUTUMN WOOD PROJECT), SERIES 1992, AND AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS
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CC RES 92-033 RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF HOUSING DEVELOPMENT REFUNDING REVENUE BONDS (AUTUMN WOOD PROJECT), SERIES 1992, AND AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS
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exceed $9,000,000, bearing interest at a rate per annum not to exceed 7.125%, <br /> • maturing not later than August 1, 2022, and bearing the further terms and <br /> conditions set forth in the Indenture heretofore filed with the City (as the same may <br /> be amended or completed as hereinafter provided). The final terms of the Bonds, <br /> including the principal amount, maturity schedule, interest rates, redemption <br /> provisions and purchase price to be paid by the Underwriter has not as yet been <br /> determined. Subject to the limitations set forth in this Section 2.1, authority is <br /> hereby delegated to the Mayor and City Manager, acting jointly, to approve the <br /> aggregate principal amount of the Bonds, the maturities thereof, the provisions for <br /> redemption thereof prior to maturity and the rate or rates of interest payable <br /> thereon and the purchase price to be paid by the Underwriter under the Bond <br /> Purchase Agreement; provided that such purchase price is not less than 98% of the <br /> principal amount of the Bonds, plus accrued interest. Such approval shall be <br /> conclusively evidenced by the execution and delivery of the Bond Purchase <br /> Agreement by the City. <br /> 2.2. The form of the Bond Purchase Agreement heretofore filed with <br /> the City is hereby approved, subject to such changes therein as may be deemed <br /> desirable by the Mayor, the City Manager and the City Attorney. The Bonds are <br /> hereby authorized to be sold to the Underwriter upon the terms set forth in the <br /> Bond Purchase Agreement. The Mayor and the City Manager of the City are hereby <br /> authorized and directed, on behalf of the City, to execute and deliver the Bond <br /> Purchase Agreement in substantially the form of the Bond Purchase Agreement <br /> • heretofore filed with the City, together with such changes and completions thereof <br /> as may be approved by the Mayor, the City Manager and the City Attorney, subject to <br /> the limitations contained in this resolution, the execution thereof to constitute <br /> conclusive evidence of the approval of such changes and completions. <br /> 2.3. The forms of the City Financing Documents heretofore filed <br /> with the City are hereby approved. The Mayor and the City Manager of the City are <br /> hereby authorized and directed, on behalf of the City, to execute and deliver the City <br /> Financing Documents in substantially the forms hereby approved, but including <br /> such modifications, insertions and additions as are necessary and appropriate in <br /> their opinion and in the opinion of the City Attorney and consistent with the Act. <br /> The execution of the City Financing Documents by the appropriate officers of the <br /> City shall be conclusive evidence of the approval thereof and of the terms of the <br /> Bonds by the City. <br /> 2.4. The City hereby consents to the distribution by the Underwriter <br /> of the Preliminary Official Statement to potential purchasers of the Bonds and the <br /> distribution by the Underwriter of a final Official Statement to purchasers of the <br /> Bonds; however, the City makes no representations with respect to, and assumes no <br /> responsibility for the sufficiency, accuracy, completeness or contents of, the <br /> • -3- <br />
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