6.2. SR 07-10-2000 - Laserfiche WebLink

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Agreement and moneys in the funds and accounts held by the Trustee which are pledged to the payment thereof; the City shall not be subject to any liability thereon; no owners of the Bonds shall ever have the right to compel the exercise of the taxing power of the City to pay any of the Bonds or the interest thereon or to enforce payment thereof against any property of the City; the Bonds shall not constitute a general or moral obligation of the City or a charge, lien or encumbrance, legal or equitable, upon any property of the City (other than the interest of the City in the loan repayments to be made by the Company under the Loan Agreement and the Subordinate Loan Agreement); and each Bond issued under the Indenture shall recite that such Bond, including interest thereon, shall not constitute or give rise to a charge against the general credit or taxing powers of the City. 4. Approval and Execution of Documents. The forms of Loan Agreement, Indenture, Subordinate Loan Agreement, Subordinate Indenture, Assignment, and Bond Purchase Agreement are approved. The Bonds, Loan Agreement, Indenture, Subordinate Loan Agreement, Subordinate Indenture, Assignment, and Bond Purchase Agreement are authorized to be executed in the name and on behalf of the City by the Mayor and the City Administrator, or executed or attested by other officers of the City, in their discretion and at such time, if any, as such officers may deem appropriate, in substantially the form on file, but with such changes therein as may be approved by the officers executing the same, which approval shall be conclusively evidenced by the execution thereof. 5. Approval, Execution and Delivery of Bonds. The issuance of the Bonds is authorized, in an aggregate principal amount not to exceed $3,600,000, in the form and upon the terms set forth in the Indenture, the Subordinate Indenture and the Subordinate Loan Agreement, which terms are for this purpose incorporated in this resolution and made a part hereof; provided, however, that the initial aggregate principal amount of and the maturities of the Bonds, the interest rates thereon, and any provisions for the optional or mandatory redemption thereof shall all be as set forth in the final form of the Indenture, the Subordinate Indenture and the Subordinate Financing Agreement, to be approved, executed and delivered by the officers of the City authorized to do so by the provisions of this Resolution, which approval shall be conclusively evidenced by such execution and delivery; and provided further that, in no event, shall such maturities exceed 26 years or such rates of interest produce a net interest cost in excess of 9.75% for the Series 2000B Bonds. The Series 2000A Bonds bear interest at a variable rate. The Mayor, City Administrator and other City officers are authorized, in their discretion and at such time, if any, as they may deem appropriate, to execute the Bonds as prescribed in the Indenture, 1180830.1 4