Minutes 01/30/1996 - Laserfiche WebLink

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counsel, dee 365 ga m necessary or appropriate; and this Council hereby authorizes such Official Statement and the information obtained therein to be used by the ~urchaser in connection wit~ the sale of the Bonds. The Preliminary Official Statement is "deemed final" for purposes of Rule 15c2-t2 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 'Purchaser the respective certificates referred to in the Official Statement under the caption "Certificate Concerning Official Statement". SECTION 13. The form of the Continuing Disclosure Certificate presented to and filed with the minutes of the Council at which this resolution ~s being adopted, and the terms, conditions and provlsions thereof, are hereby approved, ratified and confirmed by the Council, and the City Manager and the Deputy City Manager for Finance, or either of them, is hereby authorized and directed co execute Continuing Disclosure Certificate in such form, together with such changes as shall be approved by the City Manager or the Deputy City Manager for Finance, or either of them upon the advice of counsel (including the City Attorney and Bond Counsel), such approval to be conclusively evidenced by their execution thereof. The City covenants with the holders from time to time of the Bonds that it will, and hereby authorizes the appropriate officers and employees of the City to take all action necessary or appropriate to, comply with and carry out all of the provisions of the Continuing Disclosure Certificate, as from time to time. Notwithstanding any other provision of this resolution, failure of the City to perform in accordance with the Continuing Disclosure Certificate shall not constitute a default or an Event of Default, and the rights and remedies provided by this resolution upon the occurrence of a default or an Event o~ Default shall no~ apply to any such failure, but the Continuing Disclosure Certificate may be enforced only as provided therein. SECTION 14. The action of the City Manager ~n causing the Summary Notice of Sale to be published as described in Section 1 hereof, and in causing the Detailed Notice of Sale, the Official Proposal Form and the Preliminary Official Statement to be distributed, and the form and contents of the Summary Notice of Sale, the Detailed Notice of Sale, the Official Proposal Form the Pre liminary Official Statement, and all actions and proceedings heretofore taken by this Council, the City Manager, the Deputy City Manager for future Finance and the other officers employees, agents and attorneys of the City in connection with issuance and sale of the Bonds, are hereby ratified and confirmed. SECTION 15. The City Attorney is hereby authorized directed to file a copy of this resolution, certified by the Citl~ Clerk to be a true and correct copy hereof, with the Circuit of the City of Portsmouth. SECTION 16. If any section, paragraph, clause or provision of this resolution shall be held invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining portions of this resolution. SECTION 17. The headings of the sections of thi~ resolution shall be solely for convenience of reference and shal2 not affect the meaning, construction, interpretation or effect of such sections or of chis resolution. That this resolution shall take effect upon the date of its adoption.