Ordinance 1013-84 - Laserfiche WebLink

price of $99 . 35 per $100 .00 par value, plus accrued interest from the date of the Notes to the date of their delivery to the purchaser . The City shall furnish the printed or typewritten notes and the approving legal opinion of Roberts & Shefelman, municipal bond counsel of Seattle, Washington, at the City' s expense . Bond counsel shall not be required to review or express any opinion concerning the completeness or accuracy of any official statement, offering circular or other sales material issued or used in connection with the Notes, and bond counsel ' s opinion shall so state . The City Council , deeming that it is in the best interest of the City that such offer be accepted, accepts the same . The Notes shall , therefore, immedi- ately upon their execution, be delivered to Harper, McLean & Company, Seattle, Washington, upon payment therefor in accord- ance with such offer . Section 7 . There heretofore has been created in the office of the City Treasurer a special fund called the "Operating Cash Requirements Fund, " into which fund the principal proceeds and accrued interest, if any, received from the sale of the Notes shall be deposited . Pending the expenditure of such proceeds in payment of expenses of the City, such proceeds may be invested in any legal investment and the investment income received may be retained in the Operating Cash Requirements Fund and expended for the purposes of such fund . Any proceeds of the Notes or investment earnings therefrom remaining in the Operating Cash Requirements Fund following the deposit into the Note Fund required by Section 3 above may be transferred to the City' s General Fund and expended for the purposes of such fund. Section O. All actions taken by the City, and its officers , employees and representatives on behalf of the City, - 4 -