2003 Resolutions - Laserfiche WebLink

Home Browse Search

4. Form of Note, The Note shall be in substantially the form attached to this Resolution as Exhibit A, with such appropriate variations, omissions and insertions as are permitted or required by this Resolution. There may be endorsed on the Note such legend or text as may be necessary or appropriate to conform to any applicable rules and regulations of any govemme~ntal authority or any usage or requirement of law with respect thereto. 5. Execution of Note The City Manager and the Clerk of the City are authorized and directed to execute an appropriate negotiable Note and to affix the seal of the City thereto and to deliver the Note to the purchaser thereof upon payment of the purchase price. The manner of execution and affixation of the seal may be by facsimile, provided, however, that if the signatures of the City Manager and the Clerk are both by facsimile, the Note shall not be valid until signed at the foot thereof by the manual signature of the Note Registrar. 6. Non-Arbitrage Certificate and Tax Covenam~;. The City Manager and the Chief Financial Officer, or either of them, are authorized and directed to execute a Non-Arbitrage Certificate and Tax Covenants setting forth the expected use and investment of the proceeds of the Note and contairfing such covenants as may be necessary m order to comply with the provisions of the Code, including the provisions of Section 148 of the Code and applicable regulations relating to "arbitrage bonds." The City Council covenants on behalf of the City that all of such proceeds will be invested and expended as set forth in the City's Non-Arbitrage Certificate and Tax Covenants and that the City will comply with the other covenants and representations contained therem. 7. Further Actions. The City Manager and the Chief Financial Officer and such officers and agents of the City as either of them may designate are authorized and directed to