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authorized by Ordinance No.1774-91 , and the Council wishes to accept <br /> the Proposal and to approve the interest rates contained therein, <br /> as required by Ordinance No.1774-91 ; <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City <br /> of Everett, as follows: <br /> Section 1. Acceptance of Proposal. The Council hereby finds <br /> and determines that the Proposal and the rates of interest <br /> contained therein are fair and reasonable and in the best interest <br /> of the City and that the Lease shall be entered into upon the terms <br /> and conditions set forth in said Proposal. <br /> The Council hereby accepts the Proposal and approves the rates <br /> of interest for the Lease contained therein and hereby authorizes <br /> and directs the Mayor to execute the Proposal and deliver it to the <br /> Underwriter. <br /> The Lease shall be executed and delivered on the terms and <br /> conditions set forth in the Proposal and in Ordinance No.].774-91 . <br /> Section 2 . Ratification of Past Acts. All actions and <br /> proceedings heretofore taken by the officers, agents, attorneys and <br /> employees of the City in connection with the issuance and sale of <br /> the Bonds are hereby ratified, approved and confirmed. <br /> Section 3 . Effective Date. This resolution shall be in full <br /> force and effect from and after its adoption and approval in <br /> accordance with law. <br /> -2- K:\dot\#home\2nEVEres.12H <br />