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<br />for all or any portion of the costs of the Projects, the City Representative, without further <br /> <br />approval of the City Council as to documentation or otherwise, may execute, deliver and issue <br /> <br />short-term notes of the City (the "Notes") as provided in Section 15.2-2628 of the Virginia Code <br /> <br />at public or private sale in anticipation of the issuance of any or all series of the Bonds; provided <br /> <br />that the aggregate principal amount of the Notes shall not exceed $58,000,000, the term to <br /> <br />maturity thereof shall not exceed five years, and the Notes shall have a "true" or "Canadian" <br /> <br />interest cost not to exceed four percent (4%) per annum (taking into account any original issue <br /> <br />discount or premium and taking into account the direct credit payments from the United States if <br /> <br />any Notes are issued as Build America Bonds (Direct Payment)). The Notes shall be subject to <br /> <br />such other terms and conditions contained in this Ordinance to the extent not inconsistent with <br /> <br />this paragraph 17. The Notes shall be secured in the same manner as the corresponding Bonds as <br /> <br /> <br />provided in paragraph 2 of this Ordinance and may be retired from the proceeds of the <br /> <br /> <br />corresponding Bonds or any other lawfully available funds. <br /> <br />18. Further Actions. The City Representative and such other officers and agents of <br /> <br /> <br />the City as he or she may designate are authorized and directed to take further action as they <br /> <br /> <br />deem necessary or appropriate regarding the issuance, credit enhancement and sale of the Bonds, <br /> <br />the Courthouse Obligations, or the Public Utility Obligations, including, without limitation, the <br /> <br />preparation, execution, and delivery of any agreement relative to the tax-exempt or Build <br /> <br /> <br />America Bond (Direct Payment) status of the Bonds, the Courthouse Obligations, or the Public <br /> <br /> <br />Utility Obligations and the use of the proceeds thereof and other instruments, agreements and <br /> <br /> <br />documents related to the issuance and sale of any series of the Bonds, the Courthouse <br /> <br />Obligations, or the Public Utility Obligations, the purchase of municipal bond insurance or other <br /> <br />credit enhancement for any series of the Bonds, the Courthouse Obligations, or the Public Utility <br /> <br />-10- <br />