R-070-12 Issuance of Bonds - Laserfiche WebLink

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I Official Statement. Each of the Authorized Officers is hereby authorized to approve an Official Statement relating to the Bonds, such approval to be conclusively evidenced by the 2 execution and delivery thereof (the "Official Statement"), and the City Council hereby approves the use of the Official Statement in connection with the offering and sale of the 3 Bonds. The City Council hereby further approves the use of any supplement or amendment to 4 the final Official Statement which is necessary or advisable so that the final Official Statement does not include any untrue statement of a material fact and does not omit to state a material 5 fact necessary to make the statements therein not misleading. Each of the Authorized Officers is hereby authorized to execute a final form of the Official Statement, as it may be modified, 6 supplemented or amended by such additions thereto and changes therein as are consistent with 7 this Resolution and the limits prescribed herein and recommended or approved by Bond Counsel to the Authority and approved by an Authorized Officer, such approval to be 8 conclusively evidenced by the execution and delivery thereof. The Official Statement shall be executed in the name and on behalf of the City by the Treasurer and the Electric Utility 9 Director or any other Authorized Officers. 10 Additions and Changes. The agreements approved in this Resolution shall, when 11 executed and delivered, contain such additions and changes (including, without limitation, additions and changes relating to the issuance of a municipal bond insurance policy and/or 12 surety bond for the reserve account and such additions and changes as may be requested by 13 rating agencies providing ratings on the Bonds) as shall have been approved by an Authorized Officer. Each Authorized Officer is hereby authorized to determine, in connection with the 14 execution and delivery of the agreements approved herein, the following with respect to the Bonds: 15 16 the aggregate principal amount of the Bonds, which shall not exceed $35,000,000; and 17 the final Purchase Payment under the Installment Purchase Agreement, which shall be due and payable not later than April 1, 2028. 18 Securi . The Bonds shall be secured by the Facilities Revenues which consist of 19 Purchase Payments. The Purchase Payments and all other payments with respect to Subordinate Qualified Obligations (as defined in the Installment Purchase Agreement) shall be 20 secured by a pledge, charge and lien upon the moneys in the Subordinate Qualified 21 Obligations Subaccount of the Surplus Revenue Account of the Electric System Revenue Fund (as such terms are defined in the Installment Purchase Agreement) and shall be paid 22 from moneys in the Subordinate Qualified Obligations Subaccount unless otherwise paid from other sources of legally available funds. The Purchase Payments and all other payments with 23 respect to Subordinate Qualified Obligations shall be equally secured by moneys in the 24 Subordinate Qualified Obligations Subaccount. 25 Investments. In connection with, or incidental to, the issuance of the Bonds by the Authority, or the acquisition or carrying out of any investment or program of investment, each 26 of the Treasurer and the Management Services Director and each other officer of the City 27 responsible for the Bonds or such investment or program of investment may enter into any contracts, including, without limitation, contracts commonly known as interest rate swap 28 agreements, contracts to exchange cash flows or a series of payments, municipal bond warrants, custodial receipts, contracts relating to the establishment of a reserve account, or 55837297.5