Ordinance 2098-95 - Laserfiche WebLink

SECTION 17. Sale of Bonds. The Bonds shall be sold at negotiated sale and the City Council will take action by resolution adopted hereafter upon an offer to purchase the Bonds on the terms and conditions set forth in such offer and in this ordinance. The Mayor is hereby authorized to execute the offered purchase contract on behalf of the City. The Finance Director is hereby authorized to review and approve on behalf of the City the official statement relative to the Bonds with such additions and changes as may be deemed necessary or advisable to him. The proper City officials are hereby authorized and directed to do everything necessary for the prompt issuance, execution and delivery of the Bonds to the purchaser and for the proper use and application of the proceeds of such sale. SECTION 18. Delivery of Bonds. The City shall cause definitive Bonds to be prepared, executed and delivered, which Bonds shall be typewritten, lithographed or printed with engraved or lithographed borders. If definitive Bonds are not ready for delivery by the date established for closing, then the Finance Director, upon the approval of the purchasers, may cause to be issued and delivered to the purchasers one or more temporary Bonds with appropriate omissions, changes and additions. Any temporary Bond or Bonds shall be entitled and subject to the same benefits and provisions of this ordinance with respect to the payment, security and obligation thereof as definitive Bonds authorized thereby. Such temporary Bond or Bonds shall be exchangeable without cost to the owners thereof for definitive Bonds when the latter are ready for delivery. SECTION 19. Approval of Preliminary Official Statement. The City hereby approves the Preliminary Official Statement presented herewith to the Council and authorizes the distribution of the Preliminary Official Statement in connection with the offering of the Bonds. Pursuant to the Rule, the City hereby deems this Preliminary Official Statement as final as of its date except for the omission of information dependent upon the pricing of the issue and the completion of the underwriting agreement, such as offering prices, interest rates, selling compensation, aggregate principal amount, principal amount per maturity, delivery dates, and other terms of the Bonds dependent on the foregoing matters. The City agrees to cooperate with the purchaser to deliver -23- J:WWWV/HOMBO3N3CXDOC