Laserfiche WebLink
3:6:8 <br /> <br />A TEIJST INDENTURE, DATED-AS OF MAY 1, 1998, BY AND BETWEEN THE CiTY <br />AND CRESTAR BANK, AS TRUSTEE, PROVIDING FOR THE ISSUANCE OF AND <br />SECURITY FOR THE SERIES 1998 BONDS; AUTHORIZING THE PREPARATION AND <br />DELIVERY OF A PRELIMINARY OFFICIAL STATEMENT AND A FINAL OFFICIAL <br />STATEMENT RELATING TO THE SERIES'1998 BONDS; AUTHORIZING THE <br />EXECUTION AND DELIVERY OF A'CONTINUING DISCLOSURE AGREEMENT, <br />DATED AS OF MAY t, 1998, BY AND BETWEEN THE CITY AND CRESTAR BANK, AS <br />TRUSTEE, RELATING TO THE SERIES i998 BONDS; APPOINTING CRESTAR <br />BANK, AS TRUSTEE AND REGISTRAR AND PAYING AGENT FoR THE SERIES 1998 <br />BONDS; AND OTHERWISE PROVIDING WITH RESPECTTO THE ISSUANCE OF THE <br />SERIES 1998 BONDS, <br /> <br />BE IT RESOLVED BY THE COUNCIL OF THE CiTY OF PORTSMOUTH: <br /> <br /> SECTION 1, References. Unless otherwise set forth below or unless the <br />context shall clearly indicate some other meaning, all Words and terms used in this <br />resolution which are defined in the Trust Indenture approved in Section 3 shall, for <br />all purposes of this resolution, have the respective meanings given to them in the <br />Trust Indenture. <br /> <br /> "Bond Purchase Agreement" shall mean the Bond Purchase Agreement to be <br /> entered into by and between the City and the Underwriters relating to the Series 1998 <br />- Bonds. <br /> <br />"City" shall mean the City of Portsmouth, Virginia. <br /> <br />"Commonwealth" shall mean the Commonwealth of Virginia. <br /> <br /> "Continuing Disclosure Agreement" shall mean the Continuing Disclosure <br />Agreement, dated as of May 1, 1998, to be entered into by and between the City and <br />the Trustee relating to the Series 1998 Bonds. <br /> <br />"DTC" shall mean The Depository Trust Company. <br /> <br /> "Official Statement" shall mean the Official Statement of the City relating to <br />the Series 1998 Bonds. <br /> <br /> "Preliminary_ Official Statement" shall mean the Preliminary Official Statement <br />of the City relating to the Series 1998 Bonds. <br /> <br /> "Rule 15c2-12" shall mean Rule 15c2-12 promulgated by the Securities and <br />- Exchange Commission under'the Securities Exchange Act of 1934. <br /> <br /> "Series 1998 Bonds" shall mean the "City of Portsmouth, Virginia, Golf <br /> Course System Revenue Bonds, Series 1998", authorized to be issued by the City <br /> pursuant to Section 5 and under and pursuant to the Trust Indenture. <br /> <br /> "Trust Indenture" shall mean the Trust Indenture, dated as of May t, 1998, to <br />be entered into by and between the City and the Trustee. <br /> <br /> "Trustee" shall mean Crestar Bank, a banking corporation organized under <br />the laws of the Commonwealth of Virginia and having its principal office and its <br />corporate trust office at in the City of Richmond, Virginia, in its capacity as Trustee <br />under the Trust Indenture, and its successors as such trustee under the Trust <br />Indenture. <br /> <br /> "Underwriters" shall mean Legg Mason Wood Walker Incorporated and First <br />Union Capital Markets. <br /> <br /> SECTION 2. Findings and Determinations. The Council of the City hereby <br />finds and determines as follows: <br /> <br /> (a) Pursuant to and in accordance with the Public Finance Act of 1991, title <br />15.2, Chapter26 of the Code of Virginia, 1950 (the "Act"), the City is authorized, <br />subject to the provisions of the Act, to contract debts for any project (as defined <br /> <br /> <br />