73-10 Issuance & sale of bonds $7,771,000

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or give reports, covenants and certifications of and on behalf of the City, as may be appropriate to assure the exclusion of interest from gross income and the intended tax status of the Bonds, and (c) to give one or more appropriate certificates of the City, for inclusion in the transcript of proceedings for the Bonds, setting forth the reasonable expectations of the City regarding the amount and use of all the proceeds of the Bonds, the facts, circumstances and estimates on which they are based, and other facts and circumstances relevant to the tax treatment of the interest on and the tax status of the Bonds. To the extent permitted by law and a determination it is in the best interests of the City, the Director of Finance is authorized to designate the Bonds as "qualified tax-exempt obligations" for purposes of Section 265(b)(3) of the Code. Section 9. Official Statement and Continuin¢ Disclosure. (a) Primary Offering Disclosure -- Official Statement. The Preliminary Official Statement of the City relating to the original issuance of the Bonds substantially in the form now on file with the Clerk of Council is approved. The distribuflon and use of the Preliminary Official Statement is hereby approved. The Mayor and the Director of Finance are each authorized and directed to complete the Preliminary Official Statement, with such modifications, completions, changes and supplements, as those officers shall approve or authorize for the purpose of preparing and determining, and to certify or otherwise represent, that the revised Preliminary Official Statement is a "deemed final" official statement (except for permitted omissions) by the City as of its date for purposes of the Rule. Those officers are each further authorized and directed to complete and sign on behalf of the City, and in their official capacities, a fmal official statement for purposes of the Rule, and are further authorized to use and distribute, or authorize the use and distribution of, that fmal official statement and supplements thereto in connecfion with the original issuance of the Bonds as may in their judgment be necessary or appropriate. Those officers and each of them are also authorized to sign and deliver, on behalf of the City, and in their official capacities, such certificates in connection with the accuracy of the Preliminary. Official Statement and the final official statement and any amendment thereto as may, in their judgment, be necessary or appropriate. (b) Application for Rafing or Bond Insurance. If, in the judgment of the Director of Finance, the filing of an application for (i) a rating on the Bonds by one or more nationally-recognized rating agencies, or (ii) a policy of insurance from a company or companies to better assure the payment of principal of and interest on the Bonds, is in the best interest of and financially advantageous to this City, the Director of Finance is authorized to prepare and submit those applications, to provide to each such agency or company such information as may be required for the purpose, and to provide further for the payment of the cost of obtaining each such rating or policy, except to the extent otherwise paid in accordance with the Bond Purchase Agreement, from the proceeds of the Bonds to the extent available and otherwise from any other funds lawfully available and that are appropriated or shall be appropriated for that purpose. To the extent the Director of Finance has taken such actions, those actions are hereby rafified and confirmed. 13