SR 05:219 - Laserfiche WebLink

Section 2. Section 3. (h) a Ground Lease, between the City and the Corporation; (i) a Loan Agreement, between the City and the Corporation; 0) a Promissory Note by the Corporation to the City; (k) a Deed of Trust and Assignment of Rents, among the Corporation, the title insurance company named therein and the City; (I) a Regulatory Agreement and Declaration of Restrictive Covenants, between the Corporation and the City; and (m) a Right of First Refusal Agreement, between the City and the Corporation. The City Council hereby approves the sale of certificates of participation in purchase payments to be made by the City to the Corporation under the First Installment Sale Agreement (the "Certificates") by negotiation with Newman & Associates, A Division of GMAC Commercial Holding Capital Markets Corp. (the "Underwriter"). The Certificate Purchase Agreement, by and among the Underwriter, the City and the Corporation, in the form on file with the City Clerk, is hereby approved and the City Manager is hereby authorized and directed to execute said document in such form, together with such changes, insertions and omissions as may be approved by the City Manager upon consultation with the City Attorney and Bond Counsel, so long as the aggregate principal amount of Certificates does not exceed $19,700,000, and so long as the Underwriter's compensation set forth in the purchase agreement does not exceed one percent (1 %) of the principal component of the purchase payments represented by the Certificates, The official statement describing the installment sale financing (the "Official Statement"), in the form on file with the City Clerk, is hereby approved. The City Council hereby authorizes and directs the City Manager, on behalf of the City, to finalize and deem "final" pursuant to Rule 15c2-12 under the Securities Exchange Act of 1934 (the "Rule") the Official Statement prior to its distribution by the Underwriter. The Underwriter, on behalf of the City, is authorized and directed to cause the Official Statement be distributed to such municipal bond broker-dealers, to such banking institutions and to such other persons as may be interested in purchasing the Certificates therein offered for sale, and to deliver an Official Statement to all those who purchase Certificates from the Underwriter. The City Manager is authorized and directed to execute the Official Statement, and a statement that the facts contained in the Official Statement, and any supplement or amendment thereto (which shall be deemed an original part thereof for the purpose of such statement) were, at the time of sale of the -3-