Laserfiche WebLink
The amount equal to the interest (if any) accruing on the Bonds from their date to the date <br /> of their delivery shall be deposited in the Bond Fund. The balance of the Bond proceeds shall be <br /> deposited in the Golf Course Project Account. <br /> Section 14. Official Statement. The City approves the preliminary official statement <br /> dated July 13, 1998, presented to the City Council and ratifies the Underwriter's distribution of <br /> the preliminary official statement in connection with the offering of the Bonds. Pursuant to the <br /> Rule, the City deems the preliminary official statement as final as of its date except for the <br /> omission of information dependent upon the pricing of the Bonds and the completion of the <br /> purchase contract. The City agrees to cooperate with the Underwriter to deliver or cause to be <br /> delivered, within seven business days from the date of the sale of the Bonds and in sufficient <br /> time to accompany any confirmation that requests payment from any customer of the <br /> Underwriter, copies of a final official statement in sufficient quantity to comply with <br /> paragraph(b)(4) of the Rule and the rules of the MSRB. The City authorizes the Underwriter to <br /> use the official statement, substantially in the form of the preliminary official statement, in <br /> connection with the sale of the Bonds. The Finance Director is hereby authorized to review and <br /> approve on behalf of the City the final Official Statement relative to the Bonds with such <br /> additions and changes as may be deemed necessary or advisable to them. <br /> Section 15. Sale of the Bonds. The City Council finds that the purchase contract that <br /> has been distributed to the City Council is reasonable and that it is in the best interest of the City <br /> that the Bonds shall be sold to the Underwriter upon the conditions set forth in the purchase <br /> contract. The City accepts the purchase contract and authorizes the Mayor to execute the <br /> purchase contract and deliver it to the Underwriter. The Bonds shall be issued and delivered to <br /> the Underwriter upon payment of the purchase price specified in the purchase contract. <br /> -21- SC01 B DOC <br />