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6)
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<br />7)
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<br />Appmvai, ]~xccution and Delivery of Bonds: The City shall proceed forthwith to issue the
<br />Bonds, in ~m aggregate principal amount of not to exceed $1,400,000, in the form and
<br />upor~ the terms set forth in the Trust Indenture, which terms are for this purpose
<br />incorporated in this resolution and made a part hereof; provided, however, that the
<br />maturities of the Bonds, the interest rates thereon, and the rights of optional or mandatory
<br />redemptio~ with respect thereto shall all be as set forth in the final form of Indenture to be
<br />approved, executed and delivered by the officers of the City authorized to do so by the
<br />promsions of this Resolution, which approval shall be conclusively evidenced by such
<br />exccmion m~d delivery; and provided further that, in no event, shall such maturities exceed
<br />30 years o~ such rates of interest produce a net interest cost in excess of 10% per annum.
<br />The Undcrwriter has agreed pursuant to the provisions of the Bond Purchase Agreement,
<br />and subject to the conditions therein set forth, to purchase the Bonds at the purchase price
<br />set fi)r~h i~ the Bond Purchase Agreement, and said purchase price is hereby found to be
<br />favorable trod is hereby accepted. The Mayor and City Clerk and other City Officers are
<br />authorized and directed to prepare and execute the Bonds as prescribed in the Trust
<br />Indenture and to deliver them to the Trustee, together with a certified copy of this
<br />Resoh~tion and the other documents required by Section 2.08 of the Trust Indenture, for
<br />authentication, registration and delivery to the Underwriter. As provided in the Trust
<br />Indem utc, each Bond shall contain a recital that it is issued pursuant to the Act, and such
<br />recital :;hal~ be conclusive evidence of the validity and regularity of the issuance thereof.
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<br />Official Statement: The City hereby consents to the circulation by the Underwriter of the
<br />Official Statement in offering the Bonds for sale; provided, however, that the City has not
<br />participator in the preparation of the Official Statement or independently verified the
<br />intormation in the Official Statement and takes no responsibility for, and makes no
<br />reprcsentaiions or warranties as to, the accuracy or completeness of such information.
<br />Based or~ the representations of the Borrower, the City, pursuant to Regulation 15c2-12,
<br />pronmlgat,-zd by the Securities and Exchange Commission (the "Regulation"), hereby
<br />cer~i ties ~hat the Preliminary Official Statement prepared with respect to the Bonds was in
<br />final form :~s of its date, within the meaning of the Regulation, except for the omission of
<br />any ol' th~:: following information: The offering price(s), interest rate(s), selling
<br />compen sation, aggregate principal amount, principal amount per maturity, delivery dates,
<br />ratings and other terms of the Bonds depending on such matters. The City Clerk and other
<br />oflicer:s of the City axe hereby authorized, at the request of the Underwriter, to deliver to
<br />thc: Underwriter, an officer's certificate to the effect hereinabove provided, all as may be
<br />necessm~y (~r desirable to demonstrate compliance with the Regulation.
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<br />$10 Million3 Election: The City hereby elects that the $10 million election with respect to the
<br />Bonds and certain capital expenditures for the Project, as provided under Section 144(a)(4)
<br />of the Internal Revenue Code of 1986, as amended, shall apply to the Bonds and the
<br />Project.
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<br />Certificate'~:, etc.: The Mayor, City Clerk, and other officers of the City are authorized and
<br />directed m prepare and furnish to bond counsel and the purchaser of the Bonds, when
<br />issued, certified copies of all proceedings and records of the City relating to the Bonds, and
<br />sm:h other :_~ffidavits and certificates as may be required to show the facts appearing from
<br />the bor,ks and records in the officers' custody and control or as otherwise known to them;
<br />and al! such certified copies, certificates and affidavits, including any heretofore furnished,
<br />shall ccmsti~ute representations of the City as to the troth of all statements contained therein.
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<br />Resolution #90-06-183
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