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6884
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6884
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Last modified
3/23/2012 5:55:21 PM
Creation date
11/5/2014 12:26:37 PM
Metadata
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City Ordinances
Passed
2/27/2012
Ordinance Number
6884
Bill Number
9151
Introdate
2/13/2012
Description
Lease purchase transaction proceeds used to pay costs of refunding outstanding certificates of Participation Series 2003 & advanced refund of Certificates 2004
Introduced By
Mr. Crow
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will anything contained in the Lease constitute a pledge of the general tax revenues, funds or moneys of <br /> the City, and all provisions of the Lease will be construed so as to give effect to such intent. <br /> The Mayor of the City is hereby authorized and directed to execute and deliver the City <br /> Documents and to approve changes to the Declaration of Trust on behalf of and as the act and deed of the <br /> City. The City Clerk is hereby authorized to affix or imprint the City's seal to the City Documents and <br /> attest said seal. k <br /> Section 3. Prepayment of Prior Certificates. <br /> (a) The Series 2003 Certificates maturing on February 1, 2013 and thereafter are hereby <br /> k <br /> called for prepayment prior to maturity on March 29, 2012. Such Series 2003 Certificates shall be 1 <br /> prepaid at the principal corporate trust office of the Prior Trustee by the payment on the prepayment date <br /> of the principal thereof, together with any prepayment premium and accrued interest thereon to the <br /> prepayment date. The officers of the City are hereby authorized and directed to take such other action as <br /> may be necessary in order to effect the prepayment of such Series 2003 Certificates. <br /> (b) The Series 2004 Certificates maturing on February 1, 2014 and thereafter are hereby k' <br /> called for prepayment prior to maturity on February 1, 2013. Such Series 2004 Certificates shall be <br /> prepaid at the principal corporate trust office of the Prior Trustee by the payment on the prepayment date <br /> of the principal thereof, together with any prepayment premium and accrued interest thereon to the <br /> prepayment date. The officers of the City are hereby authorized and directed to take such other action as <br /> may be necessary in order to effect the prepayment of such Series 2004 Certificates. <br /> Section 4. Approval of Official Statement. The final Official Statement is hereby authorized <br /> and approved, supplementing, amending and completing the Preliminary Official Statement, with such <br /> changes therein and additions thereto as are approved by the officer of the City executing the final <br /> Official Statement, said officer's execution thereof to be conclusive evidence of said officer's approval <br /> thereof, and the public distribution of the final Official Statement by the Underwriter is in all respects <br /> hereby authorized and approved for use in connection with the sale of the Series 2012 Certificates. The <br /> Mayor of the City is hereby authorized to execute and deliver the final Official Statement on behalf of and <br /> as the act and deed of the City. <br /> For the purpose of enabling the Underwriter to comply with the requirements of Rule 15c2- <br /> 12(b)(1) of the Securities and Exchange Commission, the City hereby deems the information regarding <br /> the City contained in the Preliminary Official Statement to be "final" as of its date, except for the <br /> omission of such information as is permitted by Rule 15c2-12(b)(1), and the appropriate officers of the <br /> City are hereby authorized, if requested, to provide the Underwriter a letter or certification to such effect <br /> and to take such other actions or execute such other documents as such officers in their reasonable <br /> judgment deem necessary to enable the Underwriter to comply with the requirement of such Rule. _ <br /> Section 5. Approval and Adoption of Tax Compliance Procedure. The Tax Compliance <br /> Procedure, in substantially the form attached hereto as Exhibit M, is hereby approved and adopted. The c <br /> City covenants and agrees that it will comply with and carry out all of the provisions of the Tax <br /> Compliance Procedure, as approved and adopted and as it may be amended from time to time in <br /> accordance with the terms thereof. <br /> Section 6. Further Authority. The City will, and the officials and agents of the City are hereby <br /> authorized and directed to, take such actions, expend such funds and execute such other documents, <br /> certificates and instruments as may be necessary or desirable to carry out and comply with the intent of <br /> this Ordinance and to carry out, comply with and perform the duties of the City with respect to the City <br /> -4- ; <br />
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