Laserfiche WebLink
� ' <br /> Upon the sale of the Bonds, as evidenced by the execution and delivery of the Bond <br /> Notification by the Designated Representatives, the Mayor, Clerk and the Treasurer of the City <br /> and any other officer of the City, as shall be appropriate, shall be and are hereby authorized and <br /> directed to approve or execute, or both, such documents of sale of the Bonds as may be <br /> necessary, including, without limitation, the contract for the sale of the Bonds between the City <br /> and the Purchaser (the "Purchase Contract"). Prior to the execution and delivery of the <br /> Purchase Contract, the Designated Representatives shall find and determine that no person <br /> holding any office of the City either by election or appointment, is in any manner financially <br /> interested d'uectly in his own name or indirectly in the name of any other person, association, <br /> trust or corporation,in the Purchase Contract. <br /> The use by the Purchaser of any Preliminary Official Statement and any final Official <br /> Statement relating to the Bonds is hereby ratified, approved and authorized; the execution and <br /> delivery of said final Off'icial Statement is hereby authorized; and the officers of the Council aze <br /> hereby authorized to take any action as may be required on the part of the City to consummate <br /> the transactions contemplated by the Purchase Contract,this Ordinance, said Preliminary Official <br /> Statement,said final Official Statement and the Bonds. <br /> Section 16. Creation of Funds and Appropriations. <br /> A. There is hereby created the "General Obligation Refunding Bonds, Series 200� <br /> Bond Fund" (the "Bond Fund"), which shall be the fund for the payment of principal of and <br /> interest on the Bonds. Accrued interest received upon delivery of the Bonds shall be deposited <br /> into the Bond Fund and be applied to pay first interest coming due on the Bonds or be deposited <br /> into the Escrow Account as set forth in the Escrow Agreement. <br /> B. The Pledged Taxes shall either be deposited into the Bond Fund and used solely and <br /> only for paying the principal of and interest on the Bonds or be used to reimburse a fund or <br /> -27- <br />