92-159 Ordinance - Laserfiche WebLink

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.. . .. ...._..,.. .... ....?.._.... ..._..w....?.:.L?.__.,.... ,..... u .. . . .... . . . . . a=?R - 6 - Original Purchaser, to the Original Purchaser upon payment of the purchase price. The Mayor, the Director of Finance, the Clerk of Council and other City officials, as appropriate, are each authorized and directed to sign any transcript certificates, financial statements and other documents and instru- ments and to take such actions as are necessary or appropriate to consummate the transactions contemplated by this Ordinance. If it is determined by the Director of Finance to be in the best interest of the City to file an application for a municipal bond insurance policy to assure the payment of principal of and interest on the Notes with one or more nationally recognized bond insurance companies, the Director of Finance is authorized to prepare and submit those applications and to provide to such companies such information as may be required for the purpose. The Director of Finance shall provide for the payment of the cost of obtaining any such policy from the proceeds of the Notes to the extent available and then from other money lawfully available and appropriated or to be appropriated for that purpose. A disclosure document in the form of an official statement, including an annual information statement, is determined to be appropriate relating to the original issuance of the Notes. The Mayor and the Director of Finance are each authorized and directed, on behalf of the City and in their official capacities, to (i) prepare or cause to be prepared, and make or authorize modifications, completions or changes of or supplements to, such an official statement and annual information statement, (ii) determine, and certify or otherwise represent, when the o£ficial statement and annual information statement are to be "deemed final" (except for permitted omissions) by the City as of its date or constitute a final official statement for purposes of SEC Rule 15c2-12(b)(1), (3) and (4), (iii) use and distribute, or authorize the use and distribution of such annual information statement, preliminary official statement and final official statement and any supplements thereto in connection with the original issuance of the Notes, and (iv) complete and sign those official statements and annual information statement as so approved together with such certificates, statements or other documents in connection with the finality, accuracy and completeness of those official statements and annual information statement. Section 9. The proceeds from the sale of the Notes, except any premium and accrued interest, shall be paid into the proper fund or funds and those proceeds are appropriated and shall be used for the purpose for which the Notes are being issued. Any portion of those proceeds representing premium and accrued interest shall be paid into the Bond Retirement Fund. Section 10. The par value to be received from the sale of the Bonds or of any renewal notes and any excess funds resulting from the issuance of the Notes shall, to the extent necessary, be used to pay the debt charges on the Notes at maturity and are pledged for that purpose. Section 11. During the year or years in which the Notes are out- standing, there shall be levied on all the taxable property in the City, in addition to all other taxes, the same tax that would have been levied if the Bonds had been issued without the prior issuance of the Notes. The tax shall be within the 11.1-mill limitation provided by the Charter of the City, shall