RES 86165 - Laserfiche WebLink

and the delivery of the Bonds shall be pursuant to paragraph 9 hereof (such payment for and delivery of the Bonds, and the other actions contemplated hereby to take place at the time of such payment and delivery, is herein called the "Closing"). 2. The Preliminary Offering Memorandum, including the cover page and appendices thereto, of Imperial Securities Corporation relating to the Bonds (the Preliminary Offering Memorandum), as amended to conform to the terms of this Purchase Contract, including Exhibit A hereto, and with such other changes and amendments as are mutually agreed to by the City and the Underwriter, is hereinafter called the "Offering Memorandum". 3. The Bonds shall be as described in the Offering Memorandum and shall be issued and secured under the provisions of a Resolution adopted by the City Council on April 15, 1986 (the "Resolution"), authorizing the issuance of the Bonds. The Bonds and the interest thereon will be payable from unpaid special assessments (the "Assessments") levied and collected with interest, in accordance with the Resolution, and from the Reserve Funds as defined and provided in the Resolution establishing the Reserve Funds. Proceeds of the sale of the Bonds will be used by the City in accordance with the Resolution to refund the outstanding bonds issued by Assessment District No. 1982-3, Meyer Center dated October 18, 1983 (as defined in Resolution of Intention to Conduct Reassessment Proceedings in Meyer Center Refunding District No. 1986-5, adopted by the Council of the City on April 15, 1986), and as described in the Offering Memorandum. The Resolution of Intention to Conduct Reassessment Proceedings in Meyer Center Refunding District, No. 1986-5 and all actions, agreements and proceedings related thereto taken pursuant to the Improvement Bond Act of 1915 and all other applicable laws of the Refunding Act of 1984 (the "Bond Law") are herein collectively referred to as the "Proceedings". 4. Any action under this Purchase Contract taken by Imperial Securities Corporation, including payment for and acceptance of the Bonds, and delivery and execution of any receipt for the Bonds and any other instruments in connection with the Closing, shall be valid and sufficient for all purposes and binding upon the Underwriter, provided that any such action shall not impose any obligation or liability upon the Underwriter other than may arise as expressly set forth in this Purchase Contract.