RES 88496 - Laserfiche WebLink

hereof, relating to the Bonds (which, together with all reports contained therein, and with such changes therein and supplements thereto which are consented to in writing by the City, is herein called the "Offering Memorandum"), and shall be issued and secured under the provisions of the Improvement Bond Act of 1915 (California Streets and Highways Code Section 8500 et seq.) (the "Bond Law") and a resolution adopted by the City Council of the City on October 18, 1988 (the "Resolution of Issuance") and are secured by assessments levied under the provisions of the Municipal Improvement Act of 1913 (California Streets and Highways Code Section 10000 et seq.) (the "1913 Act") and Resolution of Intention No. 88-345, adopted by the City Council of the City on July 19, 1988, (the "Resolution of Intention"). The Resolution of Issuance and the Resolution of Intention are herein referred to as the "Resolutions". The Bonds shall be subject to redemption as set forth in the Offering Memorandum. 3. Public Offerinq. The Underwriter agrees to make a bona fide public offering of all the Bonds initially at the public offering prices (or yields) set forth on the cover page of the Offering Memorandum. Subsequent to the initial public offering, the Underwriter reserves the right to change the public offering prices (or yields) as it deems necessary in connection with the marketing of the Bonds. The Bonds may be offered and sold to certain dealers (including dealers depositing such Bonds into investment trusts) at prices lower than such initial public offering prices. 4. Delivery of Documents. At the time of or before the City's acceptance hereof (or such later date as the Underwriter may consent to) the City shall deliver to the Underwriter a copy of the Resolutions and all proceedings relating thereto, certified by the City Clerk. The City authorizes the use of the Offering Memorandum in connection with the public offering and sale of the Bonds. 5. City Representations and Warranties. The City represents and warrants to the Underwriter that: (a) The City is a general law city organized and existing under the laws of the State of California (the "State"). (b) By official action of the City, the City has duly approved the Resolution of Issuance in accordance with the Bond Law; the City has duly approved the Resolution of Intention in accordance with the 1913 Act; the City has, and at the date of the Closing will have, full legal right, power and authority to enter into this Purchase Contract, to adopt the Resolutions, and to issue and deliver the Bonds to the Underwriter as provided herein; the City has duly authorized and approved the execution and delivery of, and the 2