Minutes 04/14/1987 - Laserfiche WebLink

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April 14, 1987 NOTE: The signature to this asslgnment must correspond with the name as written on the face of the within Bond in every pa~ticular~ withouu alteration, enlargement or any change whatsoever. Signature Guaranteed: NOTE: Signature(s) must be guaranteed by a member firm of The New York Stock Exchange, Inc. or a commercial bank or trust company. 10. The City Manager and the Assistant City Manager for Administration and Finance are hereby authorized and directed to execute and deliver to the Underwriters an Official Statement of the City relating to the Series 1987 Bonds, dated the date of the sale thereof, in substantially the form of the Preliminary Official Statement, relating to the Series 1987 Bonds, presented to tee meetinq 'of the Council au whieh 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 t~e se~i~s 'Tg87 Bo~ds an~ b~ ~&king such other insertions, eba_r~es or corrections as the City Manager and the ~ssis~ant C~ty Manager for Administration -a~ Finance, based oa ~ke ad~c~ ~f ~h~ C~ty's financial advisors and leg~al conm~l ~incl%~i~ Bond ConnseI), deem necessary or appro~ria~e,~aad th~Cei~n~il~ hereby authorizes the Official S~atement and the information contained therein to be used by the Underwriters ~ connection with the sale of the Series 1987 Bonds. 1t. (a) The form of the Escrow Deposit Agreement, dated as of May 1, 1987 (the "Escrow Deposit Agreement"), by and between the City and the Escrow Agent to be hereinafter designated by the Council (the "Escrow Agent"), presented uo and filed with the minutes of the meeting of the Council at which this resolution is being adopted, and the terms, conditions and provisions thereof, are hereby approved, ratified and confirmed by the Council, and the Ciuy Manager is hereby authorized and directed to execute and deliver to the Escrow Agent the Escrow Deposit Agreement in substan- tially such form, together with such changes as shall be approved by the City Manager upon the advice of counsel (inCluding Bond Cou~seI), such approval ~o be ~conclusively evidenced by his execution thereof. (b) The City Manager and the Assistant City Manager for Administration and Finance of the City, or either of them, are hereby authorized to execute, on behal~ of the City, subscriI~tions for United States ~reasury Obligations - State and Local Government Series, ~o be purchased by the Escrow Agent from moneys deposited in the 1987 Refunding Trusu F~nd created and established under the Escrow Deuosit Agreemenn. Such United Staues Treasury Obligations - State and Local Government Series so purchased shall be held by the~Eserow Agent under and in accordance with the provisl6ns of the Escrow Deposit Agreement. (c) The City Manager i~ hereby authorized to designate the 1975 RefUnded Port ~mpr~vement Bonds for redemption on a date as soon as practicable after the sale of the Bonds, but not later than August 1, 198~, in accordance with the provisions of the aforementioned ordinance and resolution authorizing the issuance of the 1975 Port Improvemes~ Bo'nds ad opted by the Council on September 29, ~9~0 and October 10, 1975 and to take all such actions as he shall deem to be necessary or desirable uo effect the rede~pt£on of the 1975 Refunded Port Improvement Bonds on such date. {2. The action of the City Manager, the Assistant City Manager for Administration and 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 Assistant City Manager for Administration and