Resolution No. 4484 - Laserfiche WebLink

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exceed Five Million Dollars ($5,000,000). The Bonds shall bear interest at a true interest cost of not more than eight percent per annum, and shall mature over a period of approximately ten years. The City Manager, the Finance Director, or the person designated in writing by the City Manager to act under this Resolution (the "City Official") may, on behalf of the City and without further action by the City Council: 11. 1. Authorize the preparation of, deem final, and distribute a preliminary official statement for the 1996 Series N Bonds, and approve and deliver a final official statement for the 1996 Series N Bonds; 11.2. Determine whether the 1996 Series N Bonds will be sold on competitive bid or by negotiated sale, and publish a notice of sale and award the sale of the 1996 Series N Bonds to the most favorable bidder or select an underwriter, negotiate the terms of the sale of the 1996 Series N Bonds to the underwriter, and enter into and agreement to sell the 1996 Series N Bonds to the underwriter; 11.3. Enter into an agreement to provide continuing financial disclosure for the benefit of the owners of the 1996 Series N Bonds in accordance with the applicable rules of the United States Securities and Exchange Commission; 11.4. Establish tpe final principal amount, maturity schedule, interest rates, redemption provisions and other terms of the Bonds, consistent with the limitations established by this Resolution; 11.5. Establish the price and other terms under which the DEQ Obligations will be sold to the DEQ, enter into an Agreement with the DEQ and issue and deliver the DEQ Obligations; 11.6. report the results of the sale of the 1996 Series N Bonds to the Council~ and, 11.7. execute and deliver any certificates or other documents, and take any other action, including the appointment of a paying agent, which is desirable in order to issue, sell and deliver the 1996 Series N Bonds and the DEQ Obligations in accordance with this Resolution. Section 12. Tax Exemption. The City covenants for the benefit of the Owners of the Bonds to comply with all provisions of the Code which are required for Interest on the Bonds to be excludable from gross income under the Code. The City makes the following specific covenants: 12. 1. The City will not take any action or omit any action if it would cause the Bonds to become "arbitrage bonds" under Section 148 of the Code, and shall pay all penalties and rebates to the United States which are required by Section 148(f) of the Code. 12.2. The City shall operate the facilities financed with the Bonds, and use the proceeds of the Bonds, so that the Bonds are not "private activity bonds" within the meaning of Section 141 of the Code. Page 7 - Resolution J :\HWR \ClTIES\EUGENE\SAB96\SAB96RES. DOC