RES 08-046 - Laserfiche WebLink

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a pa~•t~a~~ of the praceed~ of tl~e ~~a~e ball be used direc~l~ ar ~~~dlr ec~ly ~o ac~~~~re l~il~er y~eld~n ~~~ve~~n~ei~~ ar ~a replace f~~~~ds ~rl~lcl~ ~~ere ~~sed dlrec~ly ar Ind7ree~~y ~a ae~uire ~~.i~~~er y~e~di~~~ ~t~v~n~eu~s? eeep~ ~ ~ ~ far ~ reaa~~able ~e~nparary p~•iad ~i~~~ll suer proceed ara needed far tie p~~rpa~e far u~~~~c~~ ~~~ ale ~~~ issued, aid ~2~ i~~ addl~lo~~ ~a ~l~e aba~a In an an~aun~ ~~a~ reader ~~~ ~l~e Weser of fi~a ~ercer~~ of ~~~~ raceeds of ~l~e ae ar ~ ~a,a~0. Ta this effect, any proceeds af~~~e ale a~~d at~y u~~~s fra~~~ ~i~~~e ~a ~~~~~~ held i~ ~l~e ~~'~ Cans~r~~a~ia~~ ~,cca~~~~~ ar ~~A. ~e~t e~~ice Accau~~t far any a~l~er City accau~~t ~~l~icl~ ~vill be used ~a pay p~{i~~cipal ar in.ere~t to beca~~~e due an ~i~e I~a~e} ~~~ excess of a~~~a~~n~s ~v~icl~ under ~l~e federal arbi~rae re~t~la~~ans ~~~ay ~e invested ~~i~~~au~ regard ~a yield shall r~a~ be ~~~~es~ed a~ a yield ~Il excess of ~~~ applicable y~e~d res~ric~iaus in~pased by said a~rb~~r~e reula~ians au such inves~n~ents after ~a~ii~~ ~ri~a account any applicable "~ei~~pai•ary periods" ar i~~ii~ar pai~~iai~ made avaz~abe i~~~der ~l~e federal aib~~ra~e re~~~ia~ians~ ai~ey in tl~e lurid l~iall i~a~ ~ ii~ves~ed ~~~ obli~a~ian ar depasi~ issued by, ua~•a~~~eed by ar xns~ired by ~l~e n~~ed tads ar ~~~y ~ency ar ~1~~~ ~~i~.~len~ai~y ~~er~a.f If aid ~a ~~~~ ex#en~ ~~~~ uCl~ I~1V~~~n~ent ~~a~~ld Caul ~~~~ Nape ~a ~~ ~'federal~y ~tiar~.l~tecd~, ~~i~l~i~~ ~iae i~~eai~in of section ~~~} of ~l~e ~deral ~~~e~-~~al evei~~ie Cade of ~ ~, as an~ended ~tl~e,Cade"}, Tl~e City shall abei-~e tl~e cave~.ants of ~aar~rapls , ~ ~ aid 1 S of ti~is iiesol~ition a~~d of Article ~V of tl~e pray ect Loan ~~-een~e~~t ~vz~l~ r e~~•d to t~~e Fi..ii~d. 0. .eS~al'a~iai~ af~ane , ~ft~y i~~aneys aftl~ City atl~er ~~~~~ i~~aneys received franc ~i~e City ate~~.id treed u~~d aye used far t~~e payi~~eiat of flee date, tl~e i~~aeys sa used shall be resta~~ed to tine appropriate end fxai~ ~l~e i~~ai~eys ~~~~~ received by floe City franc tl~e Cai~str~ictian ai• ai~~tei~nce ,ccaui~~ ~~~ tl~e Cit~r' Sate-1~id greet ~liild ~~l~icl~i ai'e i~at re~uii•ed to be paid i~~to ~ debt se~•vice accau.i~t far a~~~er abli~a~iansF ~ ~~ ~~ ~fAll~t#~ ~ai~e~rs. There is hereby ii~i•evacab~y pledged aid apprapria~ed e~ ~a tl~e ~~, debt er~~iCe ~.cca~i~~t i~~ai7eys alla~ted ar to be alatted to tl~e City ~'~#a~~~ ~~ aeaau~~~ ilk ~~]~ Cl~yt~ ~t~~-~.Id ~I"~~ LII~. ~~1 ~l~ ~x~,a~l~~~ 5u~~1C~~~~~ ~a p~~ ~~7~ p~~~]C~p~ a~~x1~.1~1~~~'~ a~~ tl~e date as t~~ey respec~i~ely becaixie due. 1 ~. avera~~~T~t. ~t ~ hereby dete~~~~i~~ed and raa~~ably a~~ticipa~ed ~~~ floe es~ii~~a~ed co~lec~ians of tl~e r~~aneys to be a~railable fro~~ ~l~e City's ta~e~A.id street fund aid to be depaszted to tl~e ~~. Debt er~ice Account ~~ill produce a~ least ~~ve percent 1n excess of tl~e ai~7aui~~ needed to i~~~et, ~~~~en die, tlxe principal of and interest a~~ tl~e date. _ erieral bli,~at,y, ~ *~,Y..,,,~an. Pledge. T~~e frill faith, credit a~7d taii~~ pa~~er afti~e City sl~al~ be, and are l~ereby~ irrevocably ~led~ed for tl~e prai~~pt ar~d fug pay~rie~~t of tl~e principal a~~d interest a~~ tl~e dote as the sane respectively beca~~~e due. ~~'tl~e balance in tl~e ~~~~ Debt Service Acca~int shall a~ a~~y tii~~e be insufficient ~o pay suc~~ principal a~~d ii~~erest ~~l~en due a~~ tl~e dote payable fi•ai ~l~e ~~' ~eb~ Service ~.cca~~i~t, tl~e City cavenai~ts .~ a~•ees ~a levy, ~vitbau~ lii~aitatiai~ as to rate ar an~ou~~t, a~~ ad valore~xi tai upai~ all taxable praper~y in the City sufficie~~~ to pay s~icl~ principal and interest a tl~~y becon~e d~~e, ~` tl~e balance in tl~e ~PF~ Debt Sez-vice Acca~~i~t is ever insufficient to pay all principal a~~d interest tlxei~ due a~~ tl~e dote and airy atl~er abliatiai~ payable tl~ereo~~~, tl~e deficiency shall be pron~ptly paid out of a~~y atl~er funds of tl~e City ~vl~icl~ ire available 'or s~ich purpose, and such atl~er finds iay be