73-034 Ordinance - Laserfiche WebLink

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?3.3 - 2 Section 6. Subject to the re~eection of lush notes by the Direactor ©f Fin-aace for iststest is th+~ Retirems~t Fund, such aot+~s shall. be sold by the Di:reet+ar of Finaace at private sale at an iffite~st rate not is excess of that speacified in ctioa k. The procemda from such sale, esuce~t air fms and acarm+ad interest, shad. be paid into the prerpesr fund ark! nsa!! feet the ~ storesaicl anal for no ether purpose. At~y ~essLms asd sticraed isteereat aha4l.l be deposited in the Bond Retire- meat Fund. It is hereby cesrtife~ tmat it is mot expected that the pr«ceeds of the issu+s of suesh ashes 1ri7.1 be wed is a telrr that Bald canes sash mates to be arbitrage alder Section 103(d) e~' the Iyttesrna]. Reve:we Code of 1~j~, as ,and valid regulatie-ss thesre~undenr; that all of the grcaas of sash motes are mdeedeed for the pencpae~ea for v'hich they are henreby at~t]anarisad to be issued, substantial expemditvres thecrefrom have been or x111 be prc+>e~tly cos®itted to such Asa through bi.~ing obligatiosss, eork on the pro~eet x111 prcaeseed xith due diligence to aa~Zatias-, all availe~ble ~oeeeads x311 be ed xithin the taospocrary period reasonably regmired thraugh the encercise of due diligence to ce~].ette the project and ~e final. pa~sasts, and any such proceeeds x111 be isrested or deposited Daly for a tenrary period t~stil seeded for the se for xhiesh the antes are isauesd.; and that this cert3fieaatiea-m is based upon all of the relevant facts sad cirewestances 3.n mdat+nnwe, i>scludhg these mare particularly to be set forth im the oertit3esate of the fse3al ¢~i'`ticer entitled "7RC Section 143(d) Ctortificsta" ~,iesh shall be incoarporated im the transcript of proesadiads pertaz~3asg to swh des and ehich certificate is e~kopte~: and inmor~ated herein by res!'ereewe. The City c s to the pur- chasas•s of such wtea that it x111 ~-lce so use of the proezaeda of such notes n+hieah, if swh use had base reaso~rably eeted esa the date of isles of swh sote+et, teoeeld heave cawed these to be arbitrage besuds under Section 1G33(d) of the Ihternal Revenue Cade of 19g~, as emended, as in eei'feeart os the dRte of sa~ch issue, sad s>sy valid rag~iiations th r, and that it x111 xith the rec~uireements of said Seetcn 1o3(d) and the requireememts of afar valid rageslatioss thee^reteer, all to thee eratest as nt~y be naeweet~r, at the time of the use of such proeteeed~s, so that sroech use x111 sot easw® suach notes to be arbitrage under Section 103(d) of the ~hteernal Revenue Code of 194, as ed. Section 7. Said motes sha'i.l. be the fte].1, obligatioass of the City as8 the full faith, exredit seed r of said City sere hereby pledged for the asg-t pe~ye~set oi' the sane. The par value to be received from the sale of flee bentds aatlcipated by said sates and aeey ees~ess resulting from the is es[ said Herres shall to the e~etwt s~esssry be used only for the ratire~ust of said notes at eaturity, togrthsr xith imteerest thereon, sad is herel~r pledged for sash purpose. Seectieen 8. Duriaeg the year or yen-rs xhi7..e avecte notes rue there shall be lesvied oa all the tecpable property is said City, 3n additions to all other tales, a direst tau , ty ne-t less thew that ~i#nh would have beeen levied if hoods hdd bees issued theerex~'or xith4ut the prior issue of said antes. Said tea sha11 be and is hereby ordered co>rted, certified, levied an8 eeacte n the tans dup].iem-te and. collected by the ~ effiea~cs, is flee scene miwnear sad at the sense time that taaess for nrpores for each erf said ~eaars are ceertifieal, extended and eso]leeteteed. Said t~ac shall be placed berf~ae anel ixt prerteeareence to al.l other items eusdl for the full euaotnnt thereof. The Bids deprived from said tea leeTies heereeby re- nuireeel shall be placed im a separate seed 8istinct fund, tehich, togetheer