Agenda - Council - 07/12/2022 - Laserfiche WebLink

Home

11. Establishment of Issue Price for the Series 2022A Bonds. (a) OPTION 1 [(a) The Underwriter agrees to assist the Issuer in establishing the issue price of the Series 2022 Bonds and shall execute and deliver to the Issuer on the Closing Date an"issue price" or similar certificate, together with the supporting pricing wires or equivalent communications, substantially in the form attached hereto as Exhibit A, with such modifications as may be appropriate or necessary, in the reasonable judgment of the Underwriter and Bond Counsel, to accurately reflect, as applicable,the sales price or prices or the initial offering price or prices to the public of the Series 2022 Bonds. (b) The Underwriter confirms that at least 10% of each maturity of the Series 2022 Bonds has been sold to the public at a single price (the"10%test") (if different interest rates apply within a maturity, each separate CUSIP number within that maturity is evaluated separately). Schedule I attached to this Bond Purchase Agreement sets forth the first price at which the Underwriter has sold to the public 10% of each such maturity of Series 2022 Bonds. (c) The Underwriter confirms that the Underwriter has offered the Series 2022 Bonds to the public on or before the date of this Bond Purchase Agreement(the"Sale Date")at the offering price or prices (the "initial offering price"), or at the corresponding yield or yields, set forth in Schedule I attached hereto. (d) The Underwriter confirms that it does not have any selling group agreement and any third-party distribution agreement relating to the initial sale of the Series 2022 Bonds to the public.] OPTION 2 [(a) The Underwriter agrees to assist the Issuer in establishing the issue price of the Series 2022 Bonds and shall execute and deliver to the Issuer on the Closing Date an"issue price" or similar certificate, together with the supporting pricing wires or equivalent communications, substantially in the form attached hereto as Exhibit A, with such modifications as may be appropriate or necessary, in the reasonable judgment of the Underwriter and Bond Counsel, to accurately reflect, as applicable,the sales price or prices or the initial offering price or prices to the public of the Series 2022 Bonds. (b) Except as otherwise set forth in Schedule I attached hereto,the Issuer will treat the first price at which 10% of each maturity of the Series 2022 Bonds (the "10%test") is sold to the public as the issue price of that maturity (if different interest rates apply within a maturity, each separate CUSIP number within that maturity will be subject to the 10%test). At or promptly after the execution of this Bond Purchase Agreement,the Underwriter shall report to the Issuer and Bond Counsel the price or prices at which it has sold to the public each maturity of Series 2022 Bonds. If at that time the 10%test has not been satisfied as to any maturity of the Series 2022 Bonds, the Underwriter agrees to promptly report to the Issuer the prices at which it sells the unsold Series 2022 Bonds of that maturity to the public. That reporting obligation shall continue,whether or not the Closing Date has occurred,until the 10%test has been satisfied as to the Series 2022 Bonds of that maturity or until all Series 2022 Bonds of that maturity have been sold to the public. (c) The Underwriter confirms that the Underwriter has offered the Series 2022 Bonds to the public on or before the date of this Bond Purchase Agreement(the"Sale Date")at the offering 16