RES 84122 - Laserfiche WebLink

Section 4: Section 5: Section 6: The proposed form of Contract of purchase (the "Contract of Purchase"), between the City and the Underwriter, presented to this meeting, as hereby approved in substantially the form so submitted, and the Mayor or City Manager of the City is hereby authorized and directed to execute and deliver, for and in the name and on behalf of the City, said Contract of Purchase with such additions, changes or corrections as said officers may approve upon consultation with the City Attorney and Bond Counsel. The proposed form of the Bonds, as set forth in the Indenture, is hereby approved, and the Mayor and City Clerk of the City are hereby authorized and directed to execute, by facsimile signature, and the Trustee is hereby authorized and directed to authen- ticate the Bonds in substantially such form, and the Trustee is hereby authorized and directed to deliver such Bonds to the Underwriter in accordance with the Contract of Purchase and the Indenture. The date, maturity dates, interest rate or rates, interest payment dates, denominations, form, registration privileges, manner of execution, place of payment, terms of redemption and other terms of the Bonds shall be as provided in the Indenture as finally executed; provided however, that the aggre- gate principal amount of the Bonds shall not exceed $15,000,000, the interest rate on the Bonds shall not exceed twelve percent (12%) per annum, and the final maturity of the Bonds shall not be later than 45 years from their date. Such Bonds may be delivered in temporary form pursuant to the Indenture if, in the judgement of the Mayor or City Manager, delivery in such form is necessary or appropriate until Bonds in definitive form can be prepared. The Bonds shall be limited obligations of the City and shall not be a lien or charge upon the funds or property of the City, except to the extent set forth in the Indenture. The Bonds shall not constitute an in- debtedness of the City or a loan of the credit of the City within the meaning of any constitutional or statutory provisions. Neither the faith and credit nor the taxing power of the City or the State of California shall be pledged to the payment of the principal of and the interest on the Bonds. The proposed form of Supplemental Financing and Regulatory Agreement by and among the City, the Owner, and the Trustee, substantially in the form submitted to this meeting, is hereby approved, and the Mayor or City Manager and City Clerk of the City are hereby authorized and directed to execute and - 3 -