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2007-78 PROVIDING FOR THE ISSUANCE TAXABLE GENERAL OBLIGATION NOTES, SERIES 2007
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2007-78 PROVIDING FOR THE ISSUANCE TAXABLE GENERAL OBLIGATION NOTES, SERIES 2007
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10/19/2015 9:52:23 AM
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10/19/2015 9:52:21 AM
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Resolution/Ordinance
Res Ord Num
2007-78
Res Ord Title
PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $7,250,000 TAXABLE GENERAL OBLIGATION NOTES, SERIES 2007
Department
Finance
Approved Date
10/5/2007
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' ` ' . <br /> officers, employees and agents of the City, and the officers, employee and 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 the pr visions of the Continuing <br /> Disclosure Undertaking as executed. Notwithstanding any other prov sion of this Ordinance, the <br /> sole remedies for failure to comply with the Continuing Disclosur Undertaking shall be the <br /> ability of the beneficial owner of any Note to seek mandamus or spe ific performance by court <br /> order, to cause the City to comply with its obligations under t e Continuing Disclosure <br /> Undertaking. <br /> Section 20. Micriicipal Bond Insurance. In the event the p yment of principal of and <br /> interest on the Notes is insured pursuant to a municipal bond insur nce policy (a "Mitinicipal <br /> Bond Insurance Policy") issued by a bond insurer (a "Bond Irisur r"), and as long as such <br /> Municipal Bond Insurance Policy shall be in full force and effect, the ity and the Note Registrar <br /> agree to comply with such usual and reasonable provisions regarding presentment and payment <br /> of the Notes, subrogation of the rights of the Noteholders to the B nd Insurer when holding <br /> Notes, amendment hereof, or other terms, as approved by the Mayo on advice of counsel, his <br /> approval to constitute full and complete acceptance by the City of uch terms and provisions <br /> under authority of this section. <br /> Section 21. Piiblication of Ordinance. A full, true and comp ete copy of this Ordinance <br /> shall be published within ten days after passage in pamphlet form by a thority of the Council. , <br /> -25- <br />
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