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95-77 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS
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95-77 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS
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Last modified
3/24/2016 8:25:05 AM
Creation date
3/24/2016 8:25:02 AM
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Resolution/Ordinance
Res Ord Num
95-77
Res Ord Title
PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $10,000,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES 1995, AND PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST
Approved Date
12/18/1995
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. ; <br /> , <br /> City for general corporate purposes of the City; and in said years such annual tax shall be <br /> levied and collected by and for and on behalf of the City in like manner as taxes for general <br /> corporate purposes for said years are levied and collected, and in addition to and in excess of <br /> all other taxes. <br /> Section 12. Continuing Disclosure Undertaking. Either of the Designated Officials <br /> is hereby authorized, empowered and directed to execute and deliver the Continuing <br /> Disclosure Undertaking (the "Continuing Disclosure Undertaking") in substantially the same <br /> form as now before the Council, or with such changes therein as the individual executing the <br /> Continuing Disclosure Undertaking on behalf of the City shall approve, his execution thereof <br /> to constitute conclusive evidence of his approval of such changes. When the Continuing <br /> Disclosure Undertaking is executed and delivered on behalf of the City as herein provided, <br /> a o <br /> the Continuing Disclosure Undertakinb will be bindinb on the City and the officers, <br /> employees and agents of the City, and the of�cers, employees and agents of the City are <br /> hereby authorized, empowered and directed to do all such acts and things and to execute all <br /> such documents as may be necessary to carry out and comply with the provisions of the <br /> Continuing Disclosure Undertaking as executed. Notwithstanding any other provision of this <br /> Ordinance, the sole remedies for failure to comply with the Continuing Disclosure <br /> Undertaking shall be the ability of the beneficial owner of any Bond to seek mandamus or <br /> specific performance by court order, to cause the City to comply with its obligations under <br /> the Continuing Disclosure Undertaking. <br /> Section 13. Sale of Bonds; Bond Order. The Designated Officials are hereby <br /> authorized to proceed, without any further authorization or direction whatsoever from the <br /> Council, to sell and deliver the Bonds in a maximum amount not to exceed $10,000,000 <br /> upon the terms as prescribed in this Section. The Bonds shall be executed as in this <br /> -27- <br />
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