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2005-90 PROVIDING FOR THE ISSUANCE OF A GENERAL OBLIGATION NOTE
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2005-90 PROVIDING FOR THE ISSUANCE OF A GENERAL OBLIGATION NOTE
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12/4/2015 10:57:38 AM
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Resolution/Ordinance
Res Ord Num
2005-90
Res Ord Title
PROVIDING FOR THE ISSUANCE OF A NOT TO EXCEED $2,600,000 GENERAL OBLIGATION NOTE (OLDE TOWNE REDEVELOPMENT PROJECT), SERIES 2005
Approved Date
10/17/2005
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(b) The City will keep, or cause to be kept, proper books of record and <br /> accounts, separate from all other records and accounts of the City, in which complete and <br /> correct entries shall be made of all transactions relating to the Project and to the <br /> Incremental Property T�es. Such books of record and accounts shall at all times during <br /> business hours be subject to the inspection of the Bank or its representatives authorized in <br /> writing. <br /> (c) The City will prepare or cause the preparation of complete financial <br /> statements with respect to the preceding fiscal year showing the Incremental Property <br /> Taxes received, all disbursements from the funds and accounts created by this Ordinance <br /> and the financial condition of the Project, including the balances in all fiznds and accounts <br /> relating to the Note and the Project as of the end of such fiscal year, which statements <br /> shall be accompanied by a certificate or opinion in writing of an independent certified <br /> public accountant. The City will furnish a copy of such statements and the annual financial <br /> statements of the City to the Bank within 180 days of the close of such fiscal year. <br /> (d) The City will preserve and protect the security of the Note and the rights of <br /> the registered owners of the Note. <br /> (e) The City will continue to implement the Project with all practicable dispatch <br /> in accord with its stated objectives and purposes. <br /> (fl The City will adopt, make, execute and deliver any and all such further <br /> ordinances, resolutions, instruments and assurances as may be reasonably necessary or <br /> proper to carry out the intention of, or to facilitate the performance of, this Ordinance, and <br /> for the better assuring and confirming unto the registered owner of the Note of the rights <br /> and benefits provided in this Ordinance. <br /> -xxvi- <br />
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