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2000-02 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS
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2000-02 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS
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Last modified
3/8/2016 10:19:29 AM
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3/8/2016 10:19:25 AM
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Resolution/Ordinance
Res Ord Num
2000-02
Res Ord Title
PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $30,660,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES 2000, AND PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS
Approved Date
2/7/2000
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� <br /> directed to do all such acts and things and to execute all such documents as may be necessary to <br /> carry out and comply with the provisions of the Continuing Disclosure Undertaking as executed. <br /> Notw�ithstanding any other provision of this Ordinance, the sole remedies for failure to comply <br /> with the Continuing Disclosure Undertaking shall be the ability of the beneficial owner of any <br /> Bond to seek mandamus or specific performance by court order,to cause the City to comply with <br /> its obligations under the Continuing Disclosure Undertak.ing. <br /> Section 13. Sale of Bonds; Bond Order. The Designated Officials are hereby <br /> authorized to proceed, without any further authorization or direction whatscever from the <br /> Council, to seli—and deliver the Bonds in a maximum amount not to exceed$30,660,000 ^upon <br /> the terms as prescribed in this Section. The Bonds shall be executed as in this Ordinance <br /> provided as soon after the passage hereof as may be and the Bond Order is delivered by the <br /> Designated Officials, and thereupon be deposited with the Treasurer of the City, and after due <br /> authentication by the Bond Registrar,be by sai�i Treasurer delivered to the purchaser thereof, ^at <br /> a discount of not greater than $450,000 exclusive of original issue discount,plus accrued interest <br /> to the date of^delivery• <br /> ^Nothing in this Section shall require the Designated Officials to sell the Bonds if in their <br /> judgment, the conditions in the bond markets shall have mazkedly deteriorated from the time of <br /> adoption thereof, but the Designated Officials shall have the authority to sell the Bonds in any <br /> event so long as the limitations set forth in this Ordinance and the conditions of this Section shall <br /> have been met. <br /> Upon the sale of the Bonds, the Designated Officials and any other officers of the City as <br /> shall be appropriate, shall be and aze hereby authorized and directed to approve or execute, or . <br /> both, such documents conceming the sale of the Bonds as may be necessary, including, without <br /> lim.itation, the Bond Order,Preliminary Official Statement, Official Statement, Official Notice of <br /> Sale, O�cial Bid Form (as hereinafter defined), and closing documents. The Council hereby <br /> -26- I <br />
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