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<br />(4) Deem final and authorize the distribution of a preliminary official statement for each <br />series of Obligations, authorize the preparation and distribution of a final official statement or <br />other disclosure document for each series of Obligations. <br /> <br />(5) Undertake to provide continuing disclosure for each series of Obligations in accordance <br />with Rule 15c2-12 of the United States Securities and Exchange Commission. <br /> <br />(6) Apply for ratings for each series of Obligations, determine whether to purchase municipal <br />bond insurance or obtain other forms of credit enhancements for each series of the Obligations, <br />enter into agreements with the providers of credit enhancement, and execute and deliver related <br />documents. <br /> <br />(7) Engage the services of escrow agents or trustees and any other professionals whose <br />services are desirable for the financing. <br /> <br />(8) Determine the final principal amount of each Financing Agreement, the interest rate or <br />rates which each series ofloan payments shall bear, the City's prepayment rights and other terms <br />of each Financing Agreement and each series of Obligations. <br /> <br />(9) Solicit competitive bids for the purchase of each series of the Obligations and award their <br />sale to the bidder offering the most favorable terms to the City, or select one or more <br />underwriters, negotiate the terms of the sale of each series of Obligations, and sell that series to <br />those underwriters, or select one or more commercial banks and negotiate, execute and deliver <br />the Obligations to those banks. <br /> <br />(10) Execute and deliver any other certificates or documents, apply the proceeds of the <br />Obligations to pay costs of the Project and costs of issuing the Obligations, and take any other <br />actions which the City Official determines are desirable to finance the Project with the Financing <br />Agreements and the Obligations in accordance with this Resolution. <br /> <br />Section 2. Security. <br /> <br />The City Official may pledge the City's full faith and credit and taxing power within the <br />limitations of Sections 11 and 11 b of Article XI of the Oregon Constitution, and any and all of <br />the City's legally available funds, to make the payments due under the Financing Agreements. <br /> <br />Section 3. <br /> <br />Effective Date. <br /> <br />This Resolution shall take effect immediately. <br /> <br />The foregoing Resolution adopted by the City Council on the 8th day of September, 2003. <br /> <br />----1'J1a~ <br />ity Recorder <br />