Agenda - Council - 10/27/2009 - Laserfiche WebLink

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30. No Designation of Qualified Tax-Exeml2t Obligations. The Bonds, as taxable bonds, do not qualify for designation as "qualified tax - exempt obligations" within the meaning of Section 265(b )(3) of the Code, 31. Severability. If any section, paragraph or provision of this resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this resolution, 32. Payment of Issuance Expenses The City authorizes the Purchaser to forward the amount of Bond proceeds allocable to the payment of issuance expenses to Northland Trust Services, Inc., Minneapolis, Minnesota, on the closing date for further distribution as directed by the Purchaser. 33, Headings Headings in this resolution are included for convenience of reference only and are not a part hereof, and shall not limit or define the meaning of any provision hereof. The motion for the adoption of the foregoing resolution was duly seconded by member and, after a full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof: and the following voted against the same: Whereupon the resolution was declared duly passed and adopted. 2a13138v2