Ordinance 2001-139 - Laserfiche WebLink

Home Browse Search

SECTION 5. AUTHORIZED OFFICERS. The Mayor in consultation with the City Manager of the Borrower is hereby authorized and directed to execute and deliver a Loan Agreement to evidence the Loan, to be entered into by and between the Borrower and the Council in substantially the form attached hereto as Exhibit "A" with such changes, insertions and omissions as may be approved by the Mayor in consultation with the City Manager, the execution thereof being conclusive evidence of such approval. Further, the Mayor in consultation with the City Manager of the Borrower are hereby authorized and directed to execute and deliver a Continuing Disclosure Agreement concerning compliance with existing or proposed rules of the Securities and Exchange Commission concerning continuing disclosure by the Borrower, to be entered into by and between the Underwriter, the Borrower and the Council in substantially the form attached hereto as Exhibit "c" with such changes, insertions and omissions as may be approved by the Mayor in consultation with the City Manager, the execution thereof being conclusive evidence of such approval. SECTION 6. RATES. The City Manager or his designee, is hereby authorized to approve the final rates of interest on the Bonds, and the redemption provisions thereof, if any, on behalf of the Borrower. The City Manager or his designee, is hereby authorized and directed to execute and deliver a Bond Purchase Agreement, to be entered into by and between the Underwriter, the Borrower and the Council in substantially the form attached hereto as Exhibit "B" with such changes, insertions and omissions as may be approved by the City Manager, the execution by the Mayor thereof being conclusive evidence of such approval. SECTION 7. ISSUANCE COSTS. The payment of Issuance Costs is hereby approved. Funds for the payment of these costs shall be expended from proceeds of the Bonds. SECTION 8. INDENTURE. The Borrower hereby acknowledges and consents to the Bonds being issued pursuant to a Trust Indenture (the "Indenture") to be executed by the Council and a bank or trust company to be selected by the Council, as Trustee. SECTION 9. OTHER INSTRUMENTS. The Mayor is hereby authorized and directed to execute any and all certifications or other instruments or documents required by this Resolution, the Loan Agreement, the Trust Indenture or any other document required by the Council as a prerequisite or precondition to making the Loan (including but not limited to the execution of all tax documents relating to the tax exempt status of the Loan), and any such representations and agreements made therein shall be deemed to be made on behalf of the Borrower. All action taken to date by the officers of the Borrower in furtherance of the issuance of the Bonds and the making ofthe Loan is hereby approved, confirmed and ratified. SECTION 10. ADDITIONAL INFORMATION. The Loan Agreement shall not be executed and delivered unless and until the Borrower has received all information required by Section 218.385, Florida Statutes. 3 Legislation - Attny: Ordinance Authorizing Negotiation of Loan Not to Exceed $11,000,000.