Reso 2003-109 - Laserfiche WebLink

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NOW, THEREFORE, it is hereby ORDERED and DETERMINED, as follows: Section 1. Execution and Delivery of Certificates. The City hereby authorizes the execution and delivery of the Certificates, representing the right to receive lease payments under the Lease Agreement (as described below), in the aggregate principal amount of not to exceed $15,000,000, and the execution and delivery of the following agreements (collectively, the "Agreements'): (a) -the Site and Facility Lease expected to be dated as of May 1, 2003 (the "Site Lease") between the City, as lessor, and the Authority, as lessee; (b) the Lease Agreement; and (c) the Trust Agreement. The City hereby approves and separately authorizes the City Manager, the Assistant City Manager or the Finance Director (each, an "Authorized Officer') to execute the Agreements, and the City Clerk is hereb3J authorized and directed, if required, to attest and affix the seal of the City to said Agreements, in substantially the forms on file with the City Clerk, together with any changes therein or additions thereto deemed advisable by the Authorized Officers, whose execution thereof shall be conclusive evidence of approval of any such additions and changes. Section 2. Sale of Certificates. The Council hereby approves the sale of the Certificates by negotiation with E. Wagner & Associates, Inc., as Underwriter (the "Underwriter'), pursuant to the Purchase Contract, by and between the City and the Underwriter, in substantially the form on .file with the City Clerk, together with any changes therein or additions thereto approved by the Authorized Offciers, whose execution thereof shall be conclusive evidence of approval of any such additions and changes. The Purchase Contract shall be executed in the name and on behalf of the City by an Authorized Officer, each of whom are hereby separately authorized and directed to execute and deliver said form of Purchase Contract on behalf of the City upon submission of a proposal by the Underwriter to purchase the Certificates, which proposal is acceptable to the Authorized Officers. The purchase price received by the City for the Certificates from the Underwriter shall be not less than ninety-nine percent (99%) of the par amount thereof, exclusive of any original issue discount, and the interest rate on the Certificates shall not exceed six percent (6%). Section 3. Official Statement. The City hereby approves, and hereby deems nearly final within the meaning of Rule 15c2-12 of the Securities Exchange Act of 1934, the preliminary Official Statement describing the Certificates, in the form on file with the Finance Director. The Underwriter is hereby authorized to distribute the Official Statement in connection with the sale of the Certificates. The Authorized Officers, each acting alone, are hereby authorized and directed to (a) execute and deliver to the purchaser of the Certificates a certificate deeming the preliminary Official Statement to be nearly final as of its date, (b) approve any changes in or additions to cause such Preliminary Official Statement to be put in final form, and (c) execute said final Official Statement far and in the name and on behalf of the City. -2-