RES 86136 - Laserfiche WebLink

5. It shall be a condition to the City's obligation to sell and deliver the Bonds to the Underwriter, and to the obligations of the Underwriter to purchase, to accept delivery of and to pay for the Bonds, that the entire $4,775,000 aggregate principal amount of the bonds authorized by the Resolution shall be sold and delivered by the City, and purchased, accepted and paid for by the Underwriter at the Closing. 6. The City has furnished some, but not all, of the information contained in the Offering Memorandum and hereby authorized the use of that information by the Underwriter in connection with the public offering and sale of the Bonds. The City approves and confirms the use by the Underwriter prior to the Closing of the Preliminary Offering Memorandum in connection with the public offering of the Bonds. 7. The City represents and warrants to the Underwriter that: (a) The City is a municipal corporation duly organized and existing under the Constitution and laws of the State of California, and has, and at the date of the Closing will have, full legal right, power and authority (i) to enter into this Purchase Contract, (ii) to adopt the Resolution and the other Proceedings relating to the bonds, (iii) to issue, sell and deliver the Bonds to the Underwriter as provided herein, and (iv) to-carry out and consummate the transactions contemplated by this Purchase Contract, the Resolution and the Offering Memorandum; (b) The City has complied, and will at the Closing be in compliance, in all respects, with the Resolution, the 1913 Act, the bond law and all other Proceedings; (c) By official action of the City prior to or concurrently with the acceptance hereof, the City has duly adopted the Resolution, has duly authorized and approved the execution and delivery of, the Bonds and this Purchase Contract, and has duly authorized and approved the performance by the City of its obligations contained in the Resolution and the other Proceedings, and the consummation by it of all other transactions contemplated by the Offering Memorandum, including, without limitation, the levy and collection of the Assessments and, upon recordation, the Assessments constitute valid and bonding liens of the properties on which they have been levied;