Ordinance 972-83 - Laserfiche WebLink

Ordinance No . 588-79. as amended, from the proceeds of local improvement district bonds authorized to be issued by such ordinance to be deposited in such fund and/or prepaid special benefit assessments deposited in such fund, and from the Local Improvement Guaranty Fund of the City, and shall be payable in lawful money of the United States of America at the office of the City Treasurer or at either fiscal agency of the State of Washington in Seattle, Washington. or New York, New York. The City Council declares and finds that the fixing of the above maximum interest rate is in the best interests of the City. Section 3 . The Notes shall be printed or lithographed on good bond paper or may be in typewritten form in a form consis- tent with this ordinance and State law. The Notes shall be signed by the Mayor and attested by the City Clerk, either of whose signatures may be in facsimile, and shall have the seal of the City printed or impressed thereon. Section 4 . Harper , McLean & Company, Seattle, Washington, has submitted an offer to purchase the Notes at a price of not less than 99 . 5% of par , plus accrued interest from the date of the Notes to the date of their delivery to the purchaser . The City Treasurer is authorized to negotiate the price and rate of interest which will be borne by the Notes subject to the maximum rate set forth in Section 2 of this ordinance . 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 - 3 -