Minutes 11/25/1997 - Laserfiche WebLink

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262 November 25. 1997 amortize the principal of and premium, if any, and interest on the bonds or other obligation to be refunded and to pay all expenses reasonably incurred in the issuance of such series of refunding bonds, including any premium for municipal bond insurance or the cost of any alternative credit enhance for such series of refunding bonds. (b) The City Manager or the Deputy City Manager for Finance of the City is hereby authorized and directed to execute and deliver to the Underwriters in the case of the Series 1997A Bonds and Series '1997B Bonds and to Creigie Incorporated in the case of the Series 1997C Bonds one or more Purchase Contracts by and between the City and the Underwriters or.Craigie Incorporated, as the case may be, relating to the Bonds in such forms as shall be approved by the City Manager orthe Deputy City Manager upon'the advice of counsel (including the City Attorney or Bond Counsel), such approval to be conclusively evidenced by the execution of such Purchase Contracts by the City Manager or the Deputy City Manager for Finance. SECTION 10. Approval of Form and Authorization to Execute and Deliver Official Statement. The City Manager and the Deputy City Manager for Finance are hereby authorized and directed to execute and deliver to the Underwriters an Official Statement of the City relating to the Bonds, dated the date of the sale thereof, in substantially the form of the Preliminary Official Statement relating to the Bonds, after such Official Statement has been completed by the insertion of the maturities, interest rates and other details of the Bonds and by making such other insertions, changes or corrections as the City Manager and the Deputy City Manager for Finance, based on the advice of the City's financial advisors and legal counsel (including the City Attorney or Bond Counsel), deem necessary or appropriate; and the Council hereby authorizes the Official Statement and the information contained therein to be used by the Underwriter in connection with the sale of the Bonds. The Preliminary Official Statement relating to the Bonds shall be "deemed final" for purposes of Rule 15c2-12 promulgated by the Securities and EXChange Commission pursuant to the Securities Exchange Act of 1934. The City Manager, the Deputy City Manager for Finance and the City Attorney are hereby authorized and directed to execute on behalf of the City and deliver to the Underwriters the respective certificates referred to in the Official Statement under the caption "Certificates Concerning Official Statement." SECTION 11. Continuing Disclosure Certificate. The City Manager or the Deputy City Manager for Finance is hereby authorized and directed to execute and deliver to the Underwriters a Continuing Disclosure Certificate evidencing the City's undertaking to comply with the continuing disclosure requirements of Paragraph (b) of Rule 15c2-12 in such form as shall be approved by the City Manager or the Deputy City Manager for Finance upon the advice of counsel (including the City Attorney or Bond Counsel to the City, such approval to be conclusively evidenced by the execution of such C~ontinuing Disclosure Certificate by the City Manager or the Deputy City Manager for Finance. SECTION 12. Municipal Bond Insurance or Alternate Credit Enhancement. The City Manager orthe Deputy City Manager for Finance is hereby authorized and directed to take all such actions and to negotiate and enter into all such agreements in the name of and on behalf of the City as shall be necessary or desirable in connection with obtaining municipal bond insurance or an alternative credit enhancement with respect to the Bonds, any such agreement to be in such form as shall be approved by the City Manager or the Deputy City Manager for Finance upon the advice of counsel (including the City Attorney or Bond CounSel), such approval to be conclusively evidenced by the execution of any such agreement by the City Manager or the Deputy City Manager for Fi nance..