Laserfiche WebLink
nevertheless and may be issued by the City with the same effect as though the persons who had <br /> executed such 1993 Bonds had not ceased to be such officers. <br /> Section 18. Sale of the 1993 Bonds and Approval of Preliminary Official Statement. The <br /> Finance Director and each of the other appropriate officers, agents and representatives of the City <br /> are hereby authorized to call for bids consistent with the terms and conditions of this ordinance, <br /> for the sale of the 1993 Bonds. The sale of such Bonds to the lowest bidder therefor shall be <br /> approved by passage of a resolution subsequent to final passage of this ordinance, which <br /> resolution shall specify the interest rates, maturities, mandatory redemption provisions, price, <br /> terms and conditions of said sale, consistent with the terms and conditions set forth in this <br /> ordinance. <br /> The City hereby approves the Preliminary Official Statement presented herewith to the <br /> Board and authorizes the distribution of the Preliminary Official Statement in connection with the <br /> offering of the 1993 Bonds. Pursuant to Securities and Exchange Commission Rule 15c2-12 <br /> ("Rule 15c2-12"), the City hereby deems this Preliminary Official Statement as final as of its date <br /> except for the omission of information dependent upon the pricing of the issue and the completion <br /> of the underwriting agreement, such as offering prices, interest rates, selling compensation, <br /> aggregate principal amount, principal amount per maturity, delivery dates, and other terms of such <br /> Bonds dependent on the foregoing matters. The City agrees to cooperate with the purchaser to <br /> deliver or cause to be delivered, within seven business days from the date of the sale of such <br /> Bonds and in sufficient time to accompany any confirmation that requests payment from any <br /> customer of the Purchaser for the 1993 Bonds, copies of a final official statement in sufficient <br /> quantity to comply with paragraph (b)(4) of Rule 15c2-12 and the rules of the Municipal <br /> Securities Rule-making Board. <br /> The City shall not be required to issue the 1993 Bonds if the Finance Director determines <br /> that market conditions are unfavorable. In such event, the sale of either or both such series of <br /> Bonds may be canceled or deferred. <br /> -45- FWW04E DOC sone <br />