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

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any such changes are not materially adverse to the City and have been approved by the Director of Finance shall be conclusively evidenced by the signing of the Escrow Agreement by the Director of Finance. Section 11. Certification and Deliverv of Ordinance and Certificate of Award. The Director of Finance is directed to deliver a certified copy of this Ordinance and the Certificate of Award to the County Fiscal Officer. Section 12. Notice of Passaue. The Clerk of Council is directed to give public notice of the passage of this Ordinance. in accordance with Section 12 of the Charter of the City. Section 13. Satisfaction of Condifions for Bond Issuance. This Council determines that all acts and conditions necessary to be done or performed by the City or to have been met precedent to and in the issuing of the Bonds in order to make them legal, valid and binding general obligations of the City have been performed and have been met, or will at the time of delivery of the Bonds have been performed and have been met, in regular and due form as required by law; that the full faith and credit and general property taxing power (as described in Section 7) of the City are pledged for the timely payment of the debt charges on the Bonds; and that no statutory or constitutional limitation of indebtedness or taxation will have been exceeded in the issuance of the Bonds. Section 14. Retention of Financial Advisor. The services of MAS Financial Advisory Services LLC, as financial advisor, are hereby retained. The financial advisory services shall be in the nature of financial advice and recommendations in connection with the issuance and sale of the Bonds. In rendering those financial advisory services, as an independent contractor, that firm shall not exercise any administrative discretion on behalf of the City in the formulation of public policy, expenditure of public funds, enforcement of laws, rules and regulations of the State, the City or any other political subdivision, or the execution of public trusts. That firni shall be paid just and reasonable compensation for those financial advisory services and shall be reimbursed for the actual out-of pocket expenses it incurs in rendering those financial advisory services. The Director of Finance is authorized and directed, to the extent they are not paid by the Original Purchaser in accordance with the Bond Purchase Agreement, to make appropriate certification as to the availability of funds for those fees and any reimbursement and to issue an appropriate order for their timely payment as written statements are submitted by that firm. Section 15. Compliance with Open Meeting Requirements. This Council fmds and determines that all formal actions of this Council concerning and relating to the passage of this Ordinance, and that all deliberations of this Council and any of its committees that resulted in those formal actions, were in meetings open to the public, all in compliance with the law. 16