Laserfiche WebLink
b) a trust agreement, by and among the Association, the <br /> Participants and The Bank of California, National <br /> Association (the"Trustee"), relating to the financing <br /> of the acquisition of the Project, and the execution and <br /> delivery of certificates of participation evidencing the <br /> proportionate interests of the owners thereof in lease <br /> payments to be made by the City under the Lease Agreement <br /> and in the lease payments to be made by the Participants <br /> under separate lease agreements (the "Certificates of <br /> Participation"); <br /> <br /> c) an agency agreement between the Association and the City, <br /> relating to the appointment by the Association of the City <br /> as its agent to carry out all phases of the supervision of <br /> the acquisition and installation of the Project; <br /> <br /> d) a deposit agreement, relating to the deposit by the City <br /> with the Trustee of an amount equal to the non-asset <br /> portion of the principal amount of the Lease Agreement, <br /> between the City, the Trustee and Fireman's Fund Insurance <br /> Company; and <br /> <br /> e) a purchase agreement by and among the Underwriters, the <br /> Participants and the Trustee relating to the purchase by <br /> the Underwriters of the Certificates of Participation will <br /> not produce annual lease payments payable under the Lease <br /> Agreement in excess of $100,000.00, so long as the principal <br /> amount of the Certificates of Participation attributable to <br /> the City will not exceed $400,000.00, and so long as the <br /> Underwriters' discount with respect to the Certificates does <br /> not exceed 3-1/2%. <br /> <br /> f) any acquisition or assignment agreements necessary to <br /> transfer title to portions of the Project acquired prior <br /> to the completion of the financing, from the City to the <br /> Association, are necessary to assign from the City to the <br /> Association rights under contracts of purchase for portions <br /> of the Project entered into prior to completion of the <br /> financing. <br /> <br />Section 2: The Mayor, City Manager, Assistant City Manager, City Clerk, <br /> Finance Director and other officials of the City are hereby <br /> authorized and directed to execute such other agreements, <br /> documents and certificates as may be necessary to effect the <br /> purposes of this resolution and the lease financing herein <br /> authorized. <br /> <br />Section 3: To the best of the City Council's knowledge, information <br /> and belief, the Preliminary Official Statement contains no <br /> untrue statement of a material fact with respect to the City <br /> or omits to state a material fact with respect to the City <br /> required to be stated where necessary to make a statement not <br /> misleading in the light of the circumstances under which it <br /> was made. <br /> <br /> <br />