1993-04-28 - Laserfiche WebLink

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5O moneys deposited in the 1993 Escrow Deposit Fund created and established under the Escrow Deposit Agreement. Such United States Treasury Time Deposit Securities - State and Local Government Series so purchased shall be held by the Escrow Agent under and in accordance with the provisions of the Escrow Deposit Agreement. The City Manager or the Deputy City Manager or the Director of Finance are authorized to execute, on behalf of the City, the instruments required to be executed on behalf of the City in connection with any other investments contemplated by the Escrow Deposit Agreement. d) The Council hereby designates the City's $750,000 principal amount of General Obligation Public Improvement Bonds, Series 1987, dated May 1, 1987 and maturing on July 15 in each of the years 2000 to 2002, both inclusive (the "Refunded 1987 Bonds"), for redemption on July 15, 1997 in accordance with the provisions of the proceedings authorizing the issuance of the Refunded 1987 Bonds and authorizes the City Manager or the Deputy City Manager or the Director of Finance to take all such actions as any of them shall deem to be necessary or desirable to effect the redemption of the Refunded 1987 Bonds on such date. e) The Council hereby designated the City's $1,750,000 principal amount of General Obligation Public Improvement Bonds, Series 1989, dated January 15, 1989 and maturing on July 15 in each of the years 2003 to 2009, both inclusive (the "Refunded 1989 Bonds"), for redemption on July 15, 1999 in accordance with the provisions of the proceedings authorizing the issuance of the Refunded 1989 Bonds and authorizes the City Manager or the Deputy City Manager or the Director of Finance to take all such actions as any of them shall deem to be necessary or desirable to effect the redemption of the Refunded 1989 Bonds on such date. f) The Council hereby designates the City's $1,950,000 principal amount of General Obligation Public Improvement Bonds, Series 1990, dated February 15, 1990 and maturing on August 15 in each of the years 2005 to 2010, both inclusive (the "Refunded 1990 Bonds"), for redemption on August 15, 2000 in accordance with the provisions of the proceedings authorizing the issuance of the Refunded 1990 Bonds and authorizes the City Manager or the Deputy City Manager or the Director of Finance to take all such actions as any of them shall deem to be necessary or desirable to effect the redemption of the Refunded 1990 Bonds on such date. 9. The City Treasurer is directed to deposit the good faith check submitted by the Purchaser with the Proposal, or in lieu thereof the proceeds of the Surety Bond, and to apply the amount thereof to the purchase price of the Bonds in accordance with the terms of the Detailed Notice of Sale. The good faith checks accompanying unsuccessful proposals shall be returned to the firms submitting such proposals forthwith. 10. The City Attorney of the City is hereby directed to file a copy of this resolution, certified by the Clerk of Council of the City to be a true and correct copy hereof, with the Clerk of the Circuit Court of the City of. Charlottesville, Virginia. 11. This resolution shall take effect upon its adoption. The~meeting was adjourned.