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2024 Ordinances
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2024 Ordinances
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12/12/2024 12:24:06 PM
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1/31/2024 10:52:52 AM
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without limitation the provisions of Section 148 of the Code and applicable regulations relating to <br />"arbitrage bonds." The City Council covenants on behalf of the City that all of such proceeds will <br />be invested and expended as set forth in any such document and that the City will comply with the <br />other covenants and representations contained therein. <br />13. Disclosure Documents. The City Representative and such officers and agents of <br />the City as he or she may designate are hereby authorized and directed to prepare, execute, and <br />deliver appropriate notice(s) of sale, preliminary official statement, official statement or such other <br />offering or disclosure documents as may be necessary to expedite the sale of the Bonds. The <br />notice(s) of sale, preliminary official statement, official statement or other documents shall be <br />published in such publications and distributed in such manner, including electronically, and at such <br />times as the City Representative shall determine. <br />14. Continuing Disclosure. The City Representative is hereby authorized and directed <br />to enter into a Continuing Disclosure Agreement for the benefit of the owners of the Bonds to <br />assist the underwriter(s) for the Bonds in complying with the provisions of Section (b)(5) of <br />Securities and Exchange Commission Rule 15c2-12. <br />15. Authorization of Bond Anticipation Notes. If market or other conditions are such <br />that the City Representative determines that it is not advisable to enter into a long-term financing <br />for all or any portion of the projects specified in the recitals, the City Representative, without <br />further approval of the City Council as to documentation or otherwise, is hereby authorized to <br />execute, deliver and issue short-term notes of the City (the "Notes") as provided in Section 15.2- <br />2628 of the Virginia Code at public or private sale in anticipation of the issuance of any or all <br />series of the Bonds; provided that the aggregate principal amount of the Notes shall not exceed the <br />
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