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. _ <br /> finds and determines that no person holding any office of the City either by election or ' <br /> appointment, is in any manner interested either directly or indirectly, in his own name or in the ' <br /> name of any other person, association, trust or corporation in said proposed contract with the <br /> Purchaser for the purchase of the Bonds. <br /> The distribution of a Preliminary Official Statement and Official Notice of Sale, relating <br /> to the Bonds is hereby in all respects authorized, ratified�and approved, and the proposed use by <br /> the Purchaser of an O�cial Statement (in substantially the form of the Preliminary Official <br /> Statement but with appropriate variations to reflect the final terms of the Bonds) is hereby <br /> approved. — <br /> Upon the sale of the Bonds, the Designated Officials shall execute and file the Bond <br /> Order with the City Clerk and such shall be entered into the records of the City and made <br /> avaiiable to the Council at the next succeeding public meeting of the Council; but such action <br /> shall be for informational purposes only, and tne Council shall have no right or authority at such <br /> time to approve or reject such sale as evidenced in the Bond Order. <br /> The Designated Officials shall also file the Bond Order with the County Clerk. <br /> Section 14. Creation of Funds and Appropriations. <br /> A. There is hereby created the "General Obligation Refunding Bonds, Series 200U, <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 and premium, if any,received upon delivery of the Bonds <br /> shall be deposited into the Bond Fund and be applied to pay first interest coming due on the <br /> Bonds. <br /> B. The Pledged Taxes shall either be deposited into the Bond Fund and used solely <br /> and only for paying the principal of and interest on the Bonds or be used to reimburse a fund or <br /> account from which advances to the Bond Fund may have been made to pay principal of or <br /> interest on the Bonds prior to receipt of Pledged Taxes. Interest income or investment profit <br /> -27- <br />