1990 RES R-127-90 - Laserfiche WebLink

Browse Search

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16' 17 18 19 20 21 22 23 24 25 26 27 28 to and assist in the preparation of such modifications thereto as may be specified by Bond Counsel to the City, and by the Under- writer's Counsel, and the Underwriter is authorized to distribute said Preliminary Official Statement as approved hereby, and as modified, with the consent of the Mayor or his designee, to prospective purchasers of the Bonds. Section 3. Final Official Statement. The Mayor or his designee is further authorized to assist in the preparation of a Final Official Statement based on the Preliminary Official State- ment, and such modifications thereto as may be agreed to by Bond Counsel to the City and the Underwriter's Counsel, and the Mayor qr his designee is authorized to sign and deliver such Final Official Statement to the Underwriter as soon as practicable following execution of the Purchase Agreement. Section 4. Mayor or his Designee Authorized to Establish Final Terms of the Sale of Bonds. The Mayor or his designee, based on such advice of staff as they may deem necessary, is hereby authorized and directed to act on behalf of the City to establish and determine (i) the final principal amount of the Bonds, which amount shall not exceed $10,000,000, including Bonds which may be issued at an original issue discount, (ii) the final amounts of the various maturities and sinking fund payments of the Bonds, (iii) the final coupon interest rate on the Bonds, which rate shall not exceed ten percent (10%) per annum for any maturity of the Bonds; and (iv) the Underwriter's discount for the purchase of the Bonds, which shall not exceed five percent (5%) of the aggregate principal amount of the Bonds. The authorization and powers delegated to the Mayor or his designee by this Section 4 shall be -3-