Ordinance 2557-01 - Laserfiche WebLink

The proper City officials are authorized and directed to do everything necessary for the prompt delivery of the Bonds to the Underwriter and for the proper application and use of the proceeds of the sale thereof. Section 6.05. Approval of Official Statement. The Finance Director-Treasurer is hereby authorized and directed to review, approve and execute on behalf of the City an official statement with respect to the Bonds. Section 6.06. Approval of Financing Documents. The Council finds that entering into the Remarketing Agreement and the Reimbursement Agreement is in the City's best interest. The Council therefore authorizes the execution of those documents and of the Official Statement by the Finance Director-Treasurer (with such changes to those documents as may be approved by the Finance Director-Treasurer and are consistent with this ordinance) and the performance by the City of its obligations thereunder. Section 6.07. Specific Authorizations. The Finance Director-Treasurer may, in his or her discretion, without further action by the Council, negotiate extensions of the Expiration Date, and execute documents necessary to effect such changes, and negotiate such extensions of and fees for the credit enhancement for the Bonds, and execute documents necessary to effect such changes. Section 6.08. Appointment of Successor to Remarketing Agent(s) or Bank. The Council authorizes the Finance Director-Treasurer to appoint successor(s) to the Remarketing Agent (with the prior written consent of the Bank, which consent will not be unreasonably withheld), upon receipt of notice of resignation from the Remarketing Agent. The Council additionally authorizes the Finance Director-Treasurer to remove the Remarketing Agent when, in the sole discretion of the Finance Director-Treasurer, such removal is deemed necessary or -47- P\CMW\CMW4ZL 11/20/01