Minutes 04/01/1992 - Laserfiche WebLink

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309 Dated: Signature Guaranteed: April 1, 1992 NOTICE: Signmure(s) must be guaranteed by a member [h'm of The New York Stock Exchange, Inc. or a commercial bank or trust company. (Signature of Registered Owner) NOTICE: The signature to this assignment must correspond with the ~ane as written On the face of the witkin Bond in every particular, without alteration, enlargement or any change whatsoever. 9. The form of the Purchase Contract, dated A~:ril 1, 1992 (the "Purchase Contract"), by and between the City and Cralgie Incorporated, as Undm'writex (the "Unden,a'itar"), presented to the meeting of the Council at which this resolution is being adopted, and the terms, conditions and provisinns thereo£ are hereby approved, ratified and confirmed by the Council, and the City Manager is hereby authorized and directed to deliver to the Underwriter the Purchase Contract in substantially such form, together with such changes as shall be approved by the City Manager upon the advice of counsel (including the City Attorney and Bond Counsel), such approval to be conclusively ev/denced by his execution thereo~ 10. The City Manager and the Director of Finance are hereby authorized and directed to execute and deliver to the Underwriter an Official Statement of the City relating to the Bonds, dated the dare of the sale thereof, in substantially the form of the Preliminary Official Statement, relating to the Bonds. presented to the meeting of the Council at which this resolution is being adopted (the "Official Statement"), after the Official Statement has been completed by the insertion of the maturities, interest rates and other details of the Bonds and by malting such other insertions, changes or corrections as the City Manager and the Director of Finance, based on the advice of the City's financial advisors and legal counsel (including the City Attorney and 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 m connection with the sale of the Bondk The Preliminary Official Statement is "deemed tinal" for purposes of Rule 15c2-I2 promulgated by the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934. The City Manager, the Director of Finance and the City Attorney are hereby authorized and directed to execute on behalf of the City and deliver to the Underwriter the respective certificates referred to in the Official Statement under the caption "Certificates Concerning Official Statement". 11. (a) The form of the Escrow Deposit Agreement. dated as of April i, 92 (the Escrow Deposit Agreement"), by and between the City and The Chase Manhattan Bank, N.A.. as Escrow Agent (the "Escrow Agent"), presented to and tiled with the minutes of the meting of the Council ar which this resolution is, _b~jgg~aN'l~tg_d,.and the terms, conditions and provisions thereof, are hereby approved, ratified and confirmed by the Councu'l, and the City Manager is hereby authorized and directed to execute and deliver to the Escrow Agent the Escrow Deposit Agreement in substantially such form, together with such changes as shall be approved by the City Manager upon the advice of counsel (including the City Attorney and Bond Counsel), suer approval to be conclusively evid~ced by his execution theran£ (b) The appointment of The Chase Manhattan Bank. N.A., as Escrow Athgeent under the Escrow Deposit Agreement, is hereby approved, ratified and confirmed by Council. (e) The Ci~y Manager and the Director of Finance of the City, or either of them, are hereby authorized to execute, on behalf of the City, subscriptions for United States Treasury Obligations - State and Local Government Series, to be purchased by the Escrow Agent from moneys deposited in the Escrow Deposit Fund created and established under the Escrow Deposit Agreement. Such United States Treasury Obligations - State and Local Government Series so purchased shall be held by the Escrow Agent under and in accordance with the provisions of the Escrow Deposit Agreeman~. (d) The Council hereby designates the Refunded 1985 Public Utility Bonds for redemption on November 1, 1995 in accordance with the provisions of the aforementioned rasointions authorizing the issuance of the Public 1985 Utility Bonds adopted by the Council on October 1, 1985 and October 29, 1985 and authorizes the City Manager and the Director of Finance to take all such actions as they shall deem to be necessary or desirable to effect the redemption of the Refunded 1985 Public Utility Bonds on such date. 12. The action of the City Manager, the Director of Finance and other officials, employees, agents and attorneys of the City in negotiating the sale of the Bonds, and all actions and proceedings heretofore taken by the Council. the City Manager, the Director of Finance and other officials, employees, agents and attorneys of the City m connection with the authorization, issuance and sale of the Bonds (hacinding the preparation and distribution of the Prelimlnm3, Official Statement relating to the Bands) are hereby ratified, confirmed and approved. 13. The Director of Finance is directed to hold the good faith cheek submitted by the Underwriter at the time of the execution of the Purchase Contract and to return such good faith check to the Underwriter at the time of the delivery of and payment for the Bonds or otherwise to apply such check in accordance with the terms of the Purchase Contract.