Ordinance 1818-91 - Laserfiche WebLink

bid. The lowest acceptable bid received as a result of such competitive bid shall be approved by resolution of the City Council. Section 5. Approval of Trust Agreement. In connection with the lease financing transaction and take-out financing required by the Construction Contract, the City hereby authorizes the Mayor to execute an acknowledgement to a Trust Agreement in substantially the form of Exhibit C hereto, with such changes as may be deemed necessary and advisable by the City Attorney, by and between Contractor and the underwriter to be selected pursuant to Section 4 . By this reference, Exhibit C is incorporated into this Ordinance as if fully set forth herein. Section 6. Authorization of Actions Related to Lease Financing of Fire Station No. 4 . The Mayor, City Clerk, City Attorney, City Treasurer and City Finance Director, and all other city staff and agents, are hereby authorized and directed to do everything necessary for the execution, recording by memorandum, and performance of the Amended and Restated Ground Lease and the Amended and Restated Lease, for the approval of the Trust Agreement, and for the completion of the financing plan contemplated thereby and by the Construction Contract. Such approval may include but not be limited to: A. Execution of a side agreement with the Contractor with respect to Contractor' s remaining obligations, if any, under the Construction Contract, as of the date of execution of the Amended and Restated Lease and Amended and Restated Ground Lease; -5- K:\KR\17863-88.003\25ORDINA.IOL