Ordinance No. 19313 - Laserfiche WebLink

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Section 17. Arbitrage. The proceeds of the Advance Refunding Certificates shall be used and invested in such manner that the Advance Refunding Certificates shall not become "arbitrage bonds" within the meaning of Section 103~c~ of the Internal Revenue Cade of 1954, as amended, and the regulations issued thereunder. Section 1$. Bond Counsel. Messrs. Rankin, McMurry, VavRasky &~Doherty, of Portland, Oregon are hereby appointed Bond Counsel for the issuance of the Advance Refunding Certificates. Section 19. Preliminary Official Statement. The City shall assist in the preparation of a Preliminary Official Statement for the Advance Refunding Certificates which shall be available for distribution to prospective purchasers of the Advance Refunding Certificates. When advised by staff that the final official Statement does not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements contained in the official statement not misleading in the light of the circumstances under which they are made, then the City Manager is authorized to certify the accuracy of the Official Statement on behalf of the City. Section 20. Execution of Closing Documents.. The City Manager is authorized to execute the Arbitrage Certificate and any and all additional documents which may be reasonably required to issue, sell and deliver the Advance Refunding Certificates. Section 21. Emergency. In order that necessary procedures may be carried through in an orderly manner prior to the issuance of the Advance Refunding Certificates herein authorized so that the Advance Refunding Certificates may be issued promptly in order to secure the maximum anticipated debt service savings, an emergency is hereby declared to exist and this Ordinance shall be in full .force~:.and.. effect immediately upon passage by the Council. and approval by the Mayor. Adopted by the City Council in open session this 27th day of February 1985. CITY OF EUGENE c , Ma r ATTEST: ~. .City Recorder ORDINANCE - PAGE 7.