RES 04088 - Laserfiche WebLink

Resolution No. 04-088 Page 2 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 $2,000,000. 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 tree interest cost of the Bonds (taking into account any original issue discount on the sale thereof) shall not exceed four and one-half percent (4.50%) per annum, and the underwriter's discount, excluding original issue discount but including the cost of insurance, shall not exceed two percent (2.00%). 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 Buyer 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 Valley Times. The Officers in cooperation with the Financial Advisor shall cause the Official Notice of Sale to be cimulated among prospective bidders. Section 4: Approval of Preliminary and Final Official Statement. The form of preliminary official statement as presented to this meeting (the "Preliminary Official Statement") is hereby approved, 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 Bond Counsel. An Officer is hereby authorized and directed, for and on behalf of the City, to execute all certificates necessary to deem final the Preliminary Official Statement as of the date of such Preliminary Official Statement, with the exception of certain final pricing and related information. An Officer is hereby authorized and directed, for and on behalf of the City, to execute and deliver the final Official Statement when completed, with the advice and approval of the City Attorney and Bond Counsel. The use and distribution of said Preliminary Official Statement and use and distribution of the final Official Statement in connection with the sale of the Bonds is hereby ratified and approved. Section 5: Approval of Purchase Contract. In the event the Bonds are sold pursuant to a competitive negotiated sale, the City Manager and Director of Finance are hereby authorized to select the Underwriter. An Officer is hereby authorized and directed, for and on behalf of the City, to execute, acknowledge and deliver a Purchase Contract, in substantially the form approved by the City Attorney and Bond Counsel, such approval to be conclusively evidenced by the execution and delivery thereof; provided, that the tree interest cost to be represented by the Bonds shall not exceed four and one-half percent (4.50%) per annum, and the underwriter's discount, excluding original issue discount but including the cost of insurance, shall not exceed two percent (2.00%). Section 6: Approval of Continuing Disclosure Agreement The form of Continuing Disclosure Agreement (the "Continuing Disclosure Agreement"), between the City and the Trustee, acting as dissemination agent, as presented to this meeting is hereby approved. An Officer is hereby authorized and directed, for and on behalf of the City, to execute,