Ordinance 3405-14 - Laserfiche WebLink

any, and the Credit Facility Provider, if any, by telephone, promptly confirmed in writing, and shall thereafter be promptly given to the Registered Owners of such Bonds (other than Short- Term Rate Bonds or Long-Term Rate Bonds) by the Bond Registrar by Electronic Notice, confirmed by first class mail. (i) Notwithstanding the foregoing and the provisions of Section 3.12, the Fixed Rate for the Bonds may be the rate of interest per annum determined by the Remarketing Agent to be the interest rate which, if borne by the Bonds, would enable the Remarketing Agent to sell such Bonds on the date and at the time of such determination at a price which will result in the lowest net interest cost for such Bonds, after taking into account any premium or discount at which such Bonds are sold by the Remarketing Agent, provided that in connection with selling such Bonds at a premium or discount: (1) The City consents in writing to the sale of the Bonds by the Remarketing Agent at such premium or discount; (2) In the case of Bonds to be sold at a discount, the City agrees to transfer to the Tender Agent on the commencement date of the Fixed Rate Period, in immediately available funds, for deposit in the City Purchase Account, an amount equal to such discount; (3) In the case of Bonds to be sold at a premium, the Remarketing Agent shall transfer to the Bond Registrar for deposit in the Bond Fund an amount equal to such premium; (4) On or before the date of the determination of the Fixed Rate, the City delivers to the Bond Registrar, the City, and the Remarketing Agent an Opinion of Counsel to the effect that Bond Counsel expects to be able to give an Opinion of Counsel to the effect that such determination of the interest rate will not, in and of itself, cause the interest on the Bonds to -42- P\20287 CMW120287 AMT 10/14/14