95-77 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS

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. ' . , . ' the name of any other person, association, trust or corporation in said proposed contract ', with the Underwriters for the purchase of the Bonds. I�, The distribution by the Underwriters of a Preliminary Official Statement, dated December 14, 1995, relating to the Bonds is hereby in all respects authorized, ratified and approved, and the proposed use by the Underwriters of an Official Statement (in substantially the form of the Preliminary Official Statement but with appropriate variations to reflect the final terms of the Bonds) is hereby approved. ' A bond purchase agreement or contract for the sale of the Bonds to the Underwriters (the "Bond Purchase Contract") in substantiall the form now before this Council and to be Y signed by one of the Designated Officials is hereby in all respects authorized and approved. Upon the sale of the Bonds, the Designated Officials shall execute and file the Bond Order with the City Clerk and such shall be entered into the records of the City and made available to the Council at the next succeeding public meeting of the Council; but such action shall be for informational purposes only, and the Council shall have no right or authority at such time to approve or reject such sale as evidenced in the Bond Order. The Designated Officials shall also file the Bond Order with the County Clerk. Section 14. Creation of Funds and Appropriations. A. There is hereby created the "General Obligation Reficnding Bonds, Series 1995, Bond Fund" (the "Bond Fund"), which shall be the fund for the payment of principal of and interest on the Bonds. Accrued interest and premium, if any, received upon delivery of the Bonds shall be deposited into the Bond Fund and be applied to pay first interest coming due on the Bonds. B. The Pledged Taxes shall either be deposited into the Bond Fund and used solely and only for paying the principal of and interest on the Bonds or be used to reimburse a -29- �