Resolution No. 4560 - Laserfiche WebLink

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necessary to generate funds sufficient to permit the City to make Lease Payments, subject only to the limitations provided in Article XI of the Oregon Constitution; 1.5 Secure the amounts due under the Financing Agreements with a mortgage or other security interest on the Atrium Property; 1.6 Select one or more escrow agents, and negotiate one or more escrow agreements or similar documents authorizing the escrow agent to issue Atrium Full Faith and Credit Obligations, Series 1998 (the "Obligations") which represent the right to receive payments due from the City under one or more of the Financing Agreements; 1.7 Provide that the Obligations will be issued in one or more series; 1.8 Provide that any series of Obligations and their related Financing Agreements may be taxable Obligations which bear interest which is includable in gross income under the Internal Revenue Code of 1986, as amended (the ACode@); 1.9 Provide that any series of Obligations and their related Financing Agreements may be tax-exempt obligations which bear interest which is excludable from gross income under the Code, and covenant for the benefit of the owners of the tax-exempt Obligations to comply with all provisions of the Code which are required for interest on the tax- exempt Obligations to be excluded from gross income under the Code; 1.10 Participate in the preparation and distribution of preliminary and final official statements or other disclosure documents for the Obligations; 1.11 Establish the final principal amounts, payment schedules, interest rates, prepayment rights and other terms of the Financing Agreements and the Obligations, consistent with the limitations established by this Resolution, and award the sale of the Obligations by competitive bid or negotiated sale; and 1.12 Execute and deliver the Financing Agreements and escrow agreements authorized by this resolution, and execute any other certificates or other documents and take any other action which is desirable in order to finance the Atrium Property as contemplated by this resolution. Section 3. Reimbursement. The City hereby declares its intention to reimburse itself with proceeds of the Financing Agreements and the Obligations for any costs of the Atrium Property which the City pays prior to issuance of the Obligations. ADOPTED by the City Council of the City of Eugene, Lane County, Oregon on the 20th day of April, 1998. City of Eugene Lane County, Oregon c(l:rd~ (J ?-