RES 86182 - Laserfiche WebLink

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 A. R. Altura & Company, Inc., 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 May 1, 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. 1982-5, Fromm Business and Service Park Assessment District dated May 2, 1983 (as defined in Resolution of Intention to Conduct Reassessment Proceedings in Koll Center Refunding District, No. 1986-6, adopted by the City Council on May 1, 1986), and as described in the Offering Memorandum. The Resolution of Intention to conduct Reassessment Proceedings in Koll Center Refunding District, No. 1986-6 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 A. R. Altura & Company, Inc., 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. 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 $5,115,000 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.