5.0.-6.0. EDSR 08-12-2002 - Laserfiche WebLink

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r WHEREAS, in order to issue the Bonds in accordance with the provisions of the Indenture, it is necessary to execute certain supplements to the Indenture and the Lease, more specifically, a certain Supplement to Lease Purchase Agreement, dated as of September 1, 2002 • (the "Lease Supplement"). between the City and the Authority, and a certain Supplement to Trust Indenture, dated as of September 1, 2002 (the "Indenture Supplement"), between the Authority and the Trustee under the Indenture; and WHEREAS, with respect to the Bonds, as long as the Lease (as supplemented by the Lease Supplement) remains in effect, the City is an obligated person under the provisions of Rule 15c2-12 (the "Rule") promulgated by the Securities and Exchange Commission pursuant to the Securities and Exchange Act of 1934, as amended, and is therefore subject to continuing disclosure requirements under the Rule; and accordingly, the City will execute a certain Continuing Disclosure Undertaking respecting the Bonds (the "Continuing Disclosure Undertaking"): NOW, THEREFORE, BE IT RESOLVED by the City Council (the "Council") of the City of Elk River, Minnesota, as follows: 1. Authorization of Bonds; Documents Presented. The Authority proposes to issue the Bonds, which will be payable from additional rental payments to be made by the City under the Lease, as amended and supplemented by the lease Supplement. The Bonds shall bear interest at the rates prescribed by the Indenture, as supplemented by the Indenture Supplement. Forms of the Lease Supplement and the Continuing Disclosure Undertaking and other documents relating to the Bonds (collectively, the "Bond Documents") have been submitted to the Council and are now on file in the office of the City. 2. Approval and Execution of Bond Documents. The Mayor, the City Administrator and other applicable City officials arc hereby authorized to execute and deliver, on behalf of the City, the Bond Documents in substantially the forms on file with the City, and the Bond Documents are hereby approved. The Bond Documents shall include (1) all other documentation which may be necessary for the City to execute in connection with the issuance of the Bonds and (2) any cross easement or similar agreements respecting the split of the current City Hall parcel occasioned by the issuance of the Bonds and certain separately secured Series 2002A Bonds (being issued to assist in financing the City's public safety facility). All of the provisions of the Bond Documents when executed and delivered as authorized herein shall be deemed to be a part of this resolution as fully and to the same extent as if incorporated herein and shall be in full force and effect from the date of execution and delivery thereof. 3_ Approval of Indenture. The City hereby approves and consents to the execution of the Indenture Supplement and the Bonds (collectively the "Related Documents") in substantially the forms submitted to the City. 4. Authorized City Representative. The City Finance Director is hereby designated and authorized to act on behalf of the City as the City Representative respecting the Bonds, as defined in the Indenture. • 14318321 2