36-07 Retire Outstanding Notes - Laserfiche WebLink

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(~) Private Activity Bonds. The City will apply the proceeds received from the sale of the Bouds to pay the Debt Charges of the Outstanding Notes at their maturity, to pay Capitalized Interest, if any, on the Bonds, and to pay Financing Costs in connection with the Bonds. The City will not permit the use of the Projects by any person, will not secure or derive the money for payment of Debt Charges on the Bonds by any property or payments, and will not loan the proceeds of the Bonds to any person, all in.the manner as to cause the Bonds to be "private activity bonds" within the meaning of Code Section 141(a) Arbitrage. The City will restrict the use of proceeds of the Bonds in the manner and to the extent as may be necessary, after taking into account reasonable expectations at the time of the delivery of and payment for the Bonds, so that the Bonds will not censtitute "athitmge bonds" within lhe mcaning of Code Set'on 148. The Director of Finance or any other official having responsibility for issuing the Bonds, is authorized and directed, alone or in conjunction with any other official, employee, or consultant of the City, to sign and deliver a certificate of the City, for inclusion in the transcript of proceedings for the Bonds, setting forth the reasonable expectations of the City on the date of Closing, regarding the amount and use of the proceeds of the Bonds in accordance with Code Section 148. If required, the City will limir the y~ald on any "investment properS" (as defined in Code Section 148(b)(2)) acquired with the proceeds of the Bonds Arbitrage Rebate. Unless the gross proceeds of the Bonds are expended in accordance with one of the spending period exceptions set forth in Tress Reg. §1.148-7, the City will pay the mounts required by Code Section 148(f)(2) to the United States at the thnes required by Code Section I48(f)(3) The City will maintain the books and records and make calculations and reports as are required to comply with the Code's arbitrage rebate requirements Federal Guarantee. The City will not permit the use of the Projects, or make loans of the pmceeds of the Bonds, or invest the proceeds of the Bonds in a manner as to cause the Bonds to be "federally guaranteed" witlfin the meaning of Code Section 149(b). Information Reporting. Wuls Council authorizes and directs the Director of Finance or any other official of the City having responsibility for issuhig the Bunds to sign and file a Form 8038-G for tile Bonds with the Internal Revenue Service. Section 12. Sioning and Delivery of Bonds and Documents. Tlfis Council authorizes and directs the Mayor and the Director of Finance to sign s~ad deliver the Bonds in accordance with Section 4 of this ordinance. This Council authorizes and directs the Director of Finance to sign and approve a preliminary official statement, a final official statement, and supplements and amendments to both in accordance with Section 7 oft}ds ordinance. (a) Tiffs Council authorizes and directs the Director of Finance to sign and deliver, on behalf of the City: (1) The Certificate of Award. (2) The Purchase Agreement. (3) The Registrar Agreement. (4) The Continuing Disclosure Certificate. (5) (6) Any agreements or letters of represantation in connection with a book-entry system for the Bonds. Applications for and agreements in connection with obtaining a policy of municipal bond insurance for the Bonds. (7) Applications for and agreements in connection with obtaining one or more ratings for the Bonds.