RDA Reso 2008-015 - Laserfiche WebLink

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Section 1. Issuance of Bonds; Approval of Indenture. The Agency hereby authorizes the issuance of the Bonds under and pursuant to the Law and the Indenture, in the aggregate principal amount of not to exceed $35,000,000. The Agency hereby approves the Indenture in substantially the form thereof on file with the Secretary together with any additions thereto or changes therein deemed necessary or advisable by the Executive Director or Treasurer of the Agency, upon advice of the Agency's bond counsel, including, without limitation, the addition to the Indenture of the final interest rates payable with respect to the Bonds and the fmal principal amount and annual maturities of the Bonds. Execution of the Indenture shall be deemed conclusive evidence of the Agency's approval of such additions or changes. The Chair, the Executive Director and the Treasurer of the Agency (each, a "Designated Officer"), each acting alone, are hereby authorized and directed to execute, and the Secretary of the Agency is hereby authorized to attest, the Indenture for and in the name and on behalf of the Agency. The Agency hereby authorizes the delivery and performance of the Indenture. Section 2. Sale of Bonds. The Agency hereby authorizes and directs the sale of the Bonds at public sale by a competitive bidding procedure. Bids shall be received, and the Bonds shall be sold, subject to the terms and conditions set forth in the Official Notice of Sale in substantially the form on file with the Secretary, together with such additions thereto or changes therein (including but not limited to changes in the time and date fixed for sale of the Bonds) as may be deemed necessary or advisable by the Executive Director or the Treasurer. The Official Notice of Sale is hereby approved and the Executive Director, the Treasurer or their written designee is hereby authorized and directed to accept the best bid determined in accordance with the Official Notice of Sale, in the name and on behalf of the Agency. The true interest cost on the Bonds shall not exceed six and one-half percent (6.5%), and the discount paid by the original purchaser of the Bonds shall not exceed one and one-half percent (1.5%). Section 3. Notice of Intention. The Secretary shall cause a copy of a Notice of Intention to Sell the Bonds to be published once not less than five (5) days prior to the date of public sale of the Bonds in The Bond Buyer. The Secretary shall also cause a copy of such Notice to be published once not less than five (5) days prior to the date of public sale of the Bonds, in The Daily Review, an official newspaper of the City. The publication of such notice substantially in the form on file with the Secretary is hereby approved. Section 4. Official Statement. The preliminary Official Statement describing the Bonds on file with the Secretary is hereby approved for distribution by E. Wagner & Associates, Inc., the Financial Advisor to the Agency, to municipal bond broker-dealers, to banking institutions and to members of the general public who may be interested in purchasing the Bonds. The Executive Director and the Treasurer are authorized to approve, upon advice of the Agency's Disclosure Counsel, modifications to the preliminary Official Statement, from time to time, pending such distribution as shall be required to cause the preliminary Official Statement to contain any further information necessary to accurately describe the Bonds. With respect to the distribution of the preliminary Official Statement, the Executive Director and the Treasurer are authorized and directed, on behalf of the Agency, to deem the preliminary Official Statement "fmaP' pursuant to Rule 15c2-12 under the Securities Exchange Act of 1934 (the "Rule"). The final Official Statement, which shall include such changes and additions thereto deemed advisable by the Executive Director and upon advice of the Agency's Disclosure Counsel, and such information permitted to be excluded from the Preliminary Official Statement pursuant to the Rule, is hereby approved for delivery to the purchasers of the Bonds, and the Executive Director, the Treasurer and their designee are authorized and directed to execute the final Officia] Statement for and on behalf of the Agency and the Executive Director is authorized and directed to deliver to the purchaser of the Bonds (i) a certificate with respect to the information set forth therein and (ii) a Continuing Disclosure Certificate substantially in the form appended to the final Official Statement. RESOLUTION NO. 2008-015 RDA 2