Agenda - Council - 11/23/1999 - Laserfiche WebLink

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3. Approval of Indenture. The City hereby approves the Indenture and the Bonds described therein (collectively the "Related Documents") in substantially the forms submitted to the City. 4. Authorized Ci~ Representative. The Administrator and Assistant City Clerk are each hereby designated and authorized to act on behalf of the City as the City Representative, as defined in the Indenture. 5. Furnishing of Certificates and Proceedings. The Mayor and Administrator and other officers of the City are authorized and directed to prepare and furnish to the Purchaser and Bond Counsel, certified copies of all proceedings and records of the City relating to the Bonds, and such other affidavits and certificates as may be required to show the facts relating to the legality of the Bonds as such facts appear from the books and records in the officers' custody and control or as otherwise known to them; and all such certified copies, certificates and affidavits, including any heretofore furnished, shall constitute representations of the City as to the truth of all statements contained therein. 6. Modifications to Documents. The approval hereby given to the various Bond Documents and Related Documents referred to above includes approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by the City Attorney and the City officials authorized herein to execute said documents. Said City officials are hereby authorized to approve said changes on behalf of the City. The execution of any instrument by the appropriate officer or officers of the City herein authorized shall be conclusive evidence of the approval of such documents in accordance with the terms hereof. In the absence of the Mayor or Administrator, any of the documents authorized by this resolution to be executed on behalf of the City may be executed by the Acting Mayor or the Acting Administrator respectively. 7. Finding. The City hereby finds, determines and declares that (1) the Authority is issuing its Bonds on behalf of the City within the meaning of Section 148(f)(4)(C)(iv) of the federal Internal Revenue Code of 1986, as amended (the "Code"), (2) the Authority is therefore treated as a subordinate entity of the City for purposes of such Section, and (3) the aggregate face amount of the Bonds does not exceed the lesser of $5,000,000 or the amount which, when added to the aggregate amount of other issues issued by the Authority in 1999, is allocated to the Authority in paragraph 8 of this resolution. 8. Allocation. The City hereby allocates to the Authority a $1,665,000 portion of the City's $5,000,000 limitation under Section 148(f)(4)(C)(i)(W) of the Code on the aggregate face amount of tax-exempt bonds (other than private activity bonds) issued by the City during the calendar year 1999. Such allocation 1102688.1 -76)