Laserfiche WebLink
upon receipt of the purchase price therefor, the same being not less tha $7,188,875, plus accrued <br /> interest to date of delivery. <br /> Upon the sale of the Notes, the Designated Officers shall prepa e a Notification of Sale of <br /> the Notes, which shall include the pertinent details of sale as pr vided herein (the "Note <br /> Notification"). In the Note Notification, the Designated Officers sha 1 find and determine that <br /> the Notes have been sold at such price and bear interest at such rate t at either the true interest <br /> cost (yield) or the net interest rate received upon the sale of the otes does not exceed the <br /> maximum rate otherwise authorized by applicable law. The Note N tification shall be entered <br />, into the records of the City and made available to the Council at the ne t regular meeting thereof; <br /> but such action shall be for information purposes only, and the Cou cil shall have no right or <br /> authority at such time to approve or reject such sale as evidenced in the Note Notification. <br /> Upon the sale of the Notes, as evidenced by the execution and delivery of the Note <br />, Notification by the Designated Officers, the Mayor, Clerk and Trea urer of the City and any <br /> other officers of the City, as shall be appropriate, shall be and are here y authorized and directed <br /> to approve or execute, or both, such documents of sale of the No es as may be necessary, <br /> including, without limitation, the contract for the sale of the Notes etween the City and the <br /> Purchaser (the "Picrchase Contract"). Prior to the execution and delivery of the Purchase <br /> Contract, the Designated Officers shall find and determine that no person holding any office of <br /> the City either by election or appointment, is in any manner financiall interested directly in his <br /> own name or indirectly in the name of any other person, association, rust or corporation, in the <br /> Purchase Contract. <br /> The use by the Purchaser of any Preliminary Official State nt and any final Official <br /> Statement relating to the Notes (the "Official Statement") is here y ratified, approved and <br /> authorized; the execution and delivery of the Official Statement is ereby authorized; and the <br /> -20- <br />