RES 02047 - Laserfiche WebLink

. . Resolution No. 02-047 Page Two Section 1: Aooroval ofIndenture of Trust. The form ofIndenture of Trust, currently dated as of May 1, 2002 (the "Indenture"), between the City and U.S. Bank, N.A. (the "Trustee"), as presented to this meeting, is hereby approved. The City Manager or the Director of Finance (or their designated representative), each acting alone (collectively the "Officers"), and the City Clerk are hereby authorized and directed, for and on behalf of the City, to execute, acknowledge and deliver the Indenture, in substantially the form presented to this meeting, with such changes therein as such Officers may require or approve, with the advice and approval of the City Attorney and Nossaman, Guthner, Knox & Elliott, LLP ("Bond Counsel"), such approval to be conclusively evidenced by the execution and delivery thereof. In connection therewith, the City approves the execution and delivery of the Bonds, provided, that the principal amount of the Bonds shall not exceed $3,000,000. Section 2: Award of Sale of Bonds. The form of Notice of Sale, as presented to this meeting, is hereby approved with such changes therein as the Officers may require or approve, with the advice and approval of the City Attorney and Bond Counsel. The City hereby approves the sale of the Bonds at a competitive sale. An Officer is hereby authorized and directed to award the sale of the Bonds to the bidder with the lowest true interest cost, provided, that the amount of original issue discount for the Bonds shall be not more than one percent (1.00%) of the aggregate principal amount thereof, and the net effective rate of interest on the Bonds (taking into account any original issue discount on the sale thereof) shall not exceed six percent (6%) per annum. Section 3: Publication of Notice. An Officer, in cooperation with Bond Counsel and the City's Financial Advisor, is hereby authorized and directed to publish a Notice of Intention to Sell Securities in The Bond Buver at least fifteen (15) days prior to the date bids are to be received and to publish said notice at least ten (10) days prior to the date of sale in The Vallev Times. The Officers in cooperation with the Financial Advisor shall cause the Official Notice of Sale to be circulated among prospective bidders.