Laserfiche WebLink
1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14' <br />151 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />deficiency in the redemption fund to be created with respect to the Refunding Bonds; provided, <br />however, that a determination not to obligate itself shall not prevent the City from, in its sole discretion, <br />so advancing such funds. <br />Section 7. The City Council hereby determines and notice is hereby given that, <br />pursuant to Section 8650.1 of the Bond Law, the principal amount of the Refunding Bonds maturing or <br />becoming subject to mandatory prior redemption each year may be other than an amount equal to an <br />even annual proportion of the aggregate principal of the Refunding Bonds. <br />Section 8. The City Council declares that it elects to establish a special reserve <br />fund for the Bonds pursuant to Part 16 of the Bond Law and, therefore, the amount of such special <br />reserve fund shall be included in the contemplated reassessment. <br />Section 9. The City Council hereby determines and notice is hereby given that <br />the provisions of Part 11.1 of the Bond Law, providing for an alternative procedure for the advance <br />payment of reassessments and the calling of bonds, shall apply to the Refunding Bonds. <br />Section 10. When the report provided for in Section 5 hereof is filed with the City <br />Clerk, the City Clerk is directed to present said report to this City Council for consideration, pursuant <br />to Sections 9524 and 9525 of the Refunding Act. <br />Section 11. The firm of Wedbush Morgan Securities is hereby appointed <br />underwriter for the proposed refunding. <br />Section 12. The firm of Nossaman, Guthner, Knox & Elliott, LLP is hereby <br />appointed bond counsel for the proposed refunding. The Finance Director is hereby authorized and <br />directed to negotiate and execute an agreement with said firm. <br />Section 13. The officers and staff of the City are hereby authorized and directed, <br />jointly and severally, to do any and all things, to execute and deliver any and all documents, which in <br />consultation with Bond Counsel, they may deem necessary or advisable in order to effectuate the <br />purposes of this Resolution, and any and all such actions previously taken by such Officers or staff <br />members are hereby ratified and confirmed. <br />Section 14. This resolution shall take effect immediately upon its adoption. <br />PASSED, APPROVED and ADOPTED this day of October , 2000. <br />Attest: <br />r <br />CAROLINA P. BAR ERA <br />City Clerk <br />IRDRE H. BENNETT <br />Mayor Pro Tempore <br />3 <br />