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<br />13.3 Bond Form. The Series 2000 Bonds shall be in substantially the form attached as <br />Exhibit B, with such changes as may be approved by an City Official, and shall be signed with <br />the facsimile or manual signature of the City Official. <br /> <br />13.4 Delegation. The City Official may, on behalf of the City and without further action by <br />the Council: <br /> <br />(A) Participate in the preparation of, authorize the distribution of, and deem final any <br />disclosure documents for the Series 2000 Bonds; <br /> <br />(B) Select one or more underwriters for the Series 2000 Bonds, establish the final principal <br />amounts, maturity schedules, interest rates, sale prices, redemption terms, payment terms <br />and dates, and other terms of the Series 2000 Bonds, and negotiate the terms of, and enter <br />into an agreement with the underwriters which specify the terms under which the <br />underwriters will purchase the Series 2000 Bonds; <br /> <br />(C) Enter into additional covenants and agreements for the protection of the Owners of Series <br />2000 Bonds; <br /> <br />(D) Agree to provide continuing disclosure for the Series 2000 Bonds; and <br /> <br />(E) Execute any documents and take any other action in connection with the Series 2000 <br />Bonds which the City Official finds will be advantageous to the City. <br /> <br />13.5 Disposition of Series 2000 Bond Proceeds. The Series 2000 Bond proceeds shall be <br />applied as follows: <br /> <br />(A) Interest accrued from the date of the Series 2000 Bonds until the date of closing shall be <br />placed in the Airport Debt Service Fund and used to pay interest on the next Interest <br />Payment Date. <br /> <br />(B) At closing the City shall deposit an amount in the Bond Reserve Account which is <br />sufficient to make the balance in the Bond Reserve Account equal to the Reserve <br />Requirement. <br /> <br />(C) The balance of the Series 2000 Bond proceeds shall be disbursed only to refinance the <br />Series 1988 Bonds, to fund the Bond Reserve Account, and to pay costs of issuing the <br />Series 2000 Bonds. <br /> <br />13.6 Tax-Exempt Status. <br /> <br />(A) The City covenants for the benefit of the Owners of the Series 2000 Bonds to comply <br />with all provisions of the Code which are required for interest on the Series 2000 Bonds <br />to be excluded from gross income for federal taxation purposes. In determining what <br />actions are required to comply, the City may rely on an opinion of Bond Counsel. The <br />City makes the following specific covenants with respect to the Code: <br /> <br />Page 24 - Resolution <br /> <br />March 23, 2000 <br />