1992_Ordinances - Laserfiche WebLink

Home Browse Search

- 14 - accordance with the provisions of the aforementioned ordinances and • resolution authorizing the issuance of the Refunded 1985 Public Improvement Bonds adopted by the Council on June 20, 1983, October 27, 1983 and July 31, 1985 and authorizes the City Manager or the Deputy City Manager and the Director of Finance to take all such actions as they shall deem to be necessary or desirable to effect the redemption of the Refunded 1985 Public Improvement Bonds on such date. (e) The Council hereby designates the Refunded 1987 Public Improvement Bonds for redemption on July 15, 1997 in accordance with the provisions of the aforementioned ordinance and resolution authorizing the issuance of the Refunded 1987 Public Improvement Bonds adopted by the Council on April 20, 1987 and May 13, 1987 and authorizes the City Manager or the Deputy City Manager and the Director of Finance to take all such actions as they deem to be necessary or desirable to effect the redemption of the Refunded 1987 Public Improvement Bonds on such date. SECTION 12. Ratification. The action of the City Manager, the Deputy City Manager, the Director of Finance and other officials, employees, agents and attorneys of the City in connection with the sale of the Bonds, and all actions and proceedings heretofore taken by the Council, the City Manager, the Director of Finance and other officials, employees, agents and attorneys of the City in connection with the authorization, issuance and sale of the Bonds (including the preparation and • distribution of the Preliminary Official Statement, the Summary Notice of Sale, the Detailed Notice of Sale and the Official Proposal Form relating to the Bonds) are hereby ratified, confirmed and approved. SECTION 13. Good Faith Deposit. The City Treasurer is directed to deposit the good faith check submitted by the Purchaser with the Proposal and to apply the amount of such check 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 returned to the firms submitting such proposals forthwith. SECTION 14. Filing of Ordinance. The City Attorney of the City is directed to file a copy of this ordinance, certified by the Clerk of Council of the City to be a true and correct copy hereof, with the Circuit Court of the City in accordance with Section 15.1-227.9 of the Code of Virginia, 1950. SECTION 15. Repeal of Conflicting Ordinances and Proceedings. All ordinances and proceedings in conflict herewith are, to the extent of such conflict, repealed. SECTION 16. Effective Date. This ordinance shall take effect upon its adoption. Is * Subject to increase or decrease, as described in the Detailed notice of Sale.