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2007-96 RELATING TO THE ISSUANCE OF FIXED RATE SINGLE FAMILY MORTGAGE REVENUE BONDS, SERIES 2005
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2007-96 RELATING TO THE ISSUANCE OF FIXED RATE SINGLE FAMILY MORTGAGE REVENUE BONDS, SERIES 2005
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10/19/2015 9:05:53 AM
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10/19/2015 9:05:53 AM
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Resolution/Ordinance
Res Ord Num
2007-96
Res Ord Title
RELATING TO THE ISSUANCE OF FIXED RATE SINGLE FAMILY MORTGAGE REVENUE BONDS, SERIES 2005
Department
Finance
Approved Date
12/17/2007
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hereby is made, a part of this Ordinance, and a copy of the Amen ment Agreement shall be <br /> placed in the official records of the City, and shall be available for pu lic inspection at the office <br /> of the City. <br /> Seclion 3. That the City is hereby authorized to enter into the Tax Exemption <br /> Agreement with the Authority and the Trustee in substantially the sa e form as now before the <br /> City Council; that the form, terms and provisions of the Tax Exempti n Agreement be, and they <br /> hereby are, in all respects approved; that the Mayor, City Manager and Director of Financial <br /> Management of the City be, and each of them hereby is, authorized, mpowered and directed to <br /> execute and deliver the Tax Exemption Agreement in substantially th same form as now before <br /> the City Council, or with such changes therein as the individual exe uting the Tax Exemption <br /> Agreement on behalf of the City shall approve, his or her exec tion thereof to constitute <br /> conclusive evidence of such approval of any and all changes or revis ons therein from the form <br /> of Tax Exemption Agreement now before the City Council; that hen the Tax Exemption <br /> Agreement is executed and delivered on behalf of the City as herei above provided, such Tax <br /> F,xemption Agreement shall be binding upon the City; that from a d after the execution and <br /> delivery of the Tax Exemption Agreement, the officers, employees nd agents of the City are <br /> hereby authorized, empowered and directed to do all such acts and thi gs and to execute all such <br /> documents as may be necessary to carry out and comply with t e provisions of the Tax <br /> F_,xemption Agreement as executed; and that the Tax Exemption Agre ment shall constitute, and <br /> hereby is made, a part of this Ordinance, and a copy of the Tax Exe ption Agreement shall be <br /> placed in the official records of the City, and shall be available for pu lic inspection at the office <br /> of the City. <br /> Section 4. That the sale of the Bonds in an aggregate prin ipal amount not to exceed <br /> $12,387,300 to a purchaser to be selected by the Mayor of the City at purchase price of not less <br /> than 90% of the aggregate principal amount thereof and accrued int rest, if any, to the date of <br /> delivery, is hereby approved and confirmed; and, in lieu of a sale of Bonds, the City is hereby <br /> authorized to purchase and/or sell the Certificates (as defined in the In enture). <br /> Section 5. That the Mayor, City Clerk, City Manager nd Director of Financial <br /> Management of the City is each hereby authorized and directed to ay all necessary fees and <br /> expenses incurred in connection with transactions herein authorized. <br /> Section 6. That the Mayor, City Clerk, City Manager nd Director of Financial ' <br /> Management of the City be, and each of them hereby is, authorized t execute and deliver such I <br /> documents, certificates, and undertakings of the City and to take su h other actions as may be '� <br /> required in connection with the execution, delivery and perfor ance of the Amendment <br /> Agreement and the Tax Exemption Agreement authorized by this Ordi ance. I <br /> Section 7. "That all acts of,the officers, employees and agen s of the City which are in <br /> conformity with the purposes and intent of this Ordinance be, and t e same hereby are, in all <br /> respects, ratified, approved and confirmed. <br /> Section 8. That the provisions of this Ordinance are hereb declared to be separable <br /> and if any section, phrase or provision hereof shall for any reason be eclared to be invalid, such <br /> -3- <br />
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