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CC PACKET 03142006
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CC PACKET 03142006
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7/30/2015 11:44:12 AM
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5/7/2014 2:28:41 PM
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City Council
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Council Agenda/Packets
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City Code Chapter Amendment
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Bonds, as the same appear from the books and records in their custody and control or as <br />otherwise known to them, and all such certified copies, affidavits and certificates, including any <br />heretofore furnished, shall be deemed representations of the Authority as to the correctness of'all <br />statements contained therein.. <br />Section 6. Tax Matters. <br />6.01. Certification. The Chair and Executive Director being the officers of the Authority <br />charged with the responsibility for issuing the Bonds pursuant to this Resolution, are authorized <br />and directed to execute and deliver to the Purchaser a certificate in accordance with Section 148 <br />of the Code, and applicable Regulations, stating the facts, estimates and circumstances in <br />existence on the date of issue and delivery of the Bonds which make it reasonable to expect that <br />the proceeds of the Bonds will not be used in a manner that would cause the Bonds to be <br />"arbitrage bonds" within the meaning .of the Code and Regulations. <br />6.02. Qualified Tax -Exempt Obligations. In order to enhance the marketability. of the . <br />Bonds, and since the Authorityand all subordinate entities do not reasonably expect to issue in <br />y p <br />excess of $10,000,000 of governmental and qualified 501(c)(3) bonds during calendar year 2006, <br />the Bonds are hereby designated by the Authority as "qualified tax-exempt obligations" for the <br />purposes of Section 265(b) of the Code. <br />Adopted March 14, 2006. <br />Attest: <br />Executive Director <br />In <br />64 <br />Chair <br />
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