2025-032 Ordinance - Laserfiche WebLink

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The Diactor of Finance, as the fiscal officer, or any other officer of the City having responsibility for issuance of the Notes is bereby authorized (a) m make or effect any election, selection, designation (including specifically designation or treatment of the Notes as "qualified tnx- exempt obligations" if such designation is applicable and desirable, and m make any rehired necessary representations and commissions), choice, cons m, approval, or waiver on behalf of the City with respect to the Notes as the City is pernmed or required to make or give under the federal income tax haws, including, whhom limiuvion thereto, any of the elections provided for in Section 148(f)(4)(C) of the Code or available under Section 148 of the Cade, for the purpose of assuring enhancing or protecting favorable taa veavnent or status of the Notes or interest thereon or assisting compliance wiN requirements far fiat purpose, reducing the burden or expense of such compliance, reducing the rebate amount or payments of penalties or making payments of special amounts in lieu of making computations to determine, or paying excess comings as rebate, or obviating those amounts or payments, as determined by that officer, which action shall be in witting and signed by the officer, Of to take soy and all other actions, make or obtain calculations, make paymrnas and make or give reports, covenants aad certifications of and on bebahf of the City, as may be appropriate to assure the exclusion of interest from gross income and this intended tax status of the Notes, and (c) to give one or more appropriate certificates of the City, for inclusion in the transcript of proceedings f the Notes, serving forth the reasonable expectations of the City regarding the aunt art use of at the proceeds of the Notes, the fans, circumstances and estimates an which they are based, and other facts and circumstances relevant to the is treatment of the interest on and the tots sales of me Notes. Each covenant made in Us section with respect to the Notes is also node with respect to all issues any portion of the debt service on which is paid from proceeds of the Notes (and, if differen4 the original issue srd any refunding issues in a series ofrefimdings), to the extent such compliance is necessary m assure exclusion of interest on the Notes from gross income for federal income tax purposes.ease the officers identified above are polarized to take actions wiM respect to those issues as they are enhanced in fax section m take with respect to the Notes. Section 11. Retention of Bond Counsel. The legal services of Square Parson Boggs (US) LLP, as bond counsel, be and are hereby retained. The legal services shall be in the nature of legal advice and recorthmrndations as to the documents not the proceedings in corm adon with the issuance and sale ofNe Notes and the rendering of the necusay legal opinion upon the delivery of the Notes. In rendering those legal services, as an fndependrnt contractor and in an attamryclimt relationship, that funs 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 ofthe State, the City or any other political subdivision, or the execution ofpublic trusts. That firm shall be pad just sod reasonable compensation for those legal services and shill be reimbursed for the actual out-of-pocket expenses it incurs in rendering Nave legal services. The Directorof Finance is authorized and directed to make appoom me certification as to the availability of funds for those fees and any rambursemem road m issue an appropriate order for: their timely payment as written statements are submitted by dot firm. Section 12. Retention of Municipal Advisor. The City readns MAS Financial Advisory Services, LLC an provide financial advisory slices as the City's "municipal advisor" as that term is defined in Section 975 of Title a of the Dodd -Frank Wall Street Reform and Consumer Protection Act ("Dodd -Frank Acf') relating to the autorizatiom structuring, sale, issuance and -7-