2009_Resolutions - Laserfiche WebLink

Home Browse Search

(b) The City Manager is hereby authorized and directed to execute and deliver • an Escrow Deposit Agreement by and between the City and the Escrow Agent in such form as shall be approved by the City Manager upon the advice of counsel (including the City Attorney or Bond Counsel), such approval to be conclusively evidenced by the execution of the Escrow Deposit Agreement by the City Manager. (c) The City Manager and the Director of Finance, or either of them, are hereby authorized to enter into such purchase agreements as may be required in connection with the purchase by the Escrow Agent, from moneys deposited in the Escrow Deposit Fund created and established under any Escrow Deposit Agreement, of Government Securities (as defined in the Escrow Deposit Agreement). SECTION 12. Subject to the issuance, sale and delivery of the Bonds pursuant to this resolution and receipt of the proceeds of the Bonds, the City Manager is hereby authorized to designate the Refunded Bonds for redemption on such date or dates as shall be determined by the City Manager and is hereby further authorized to direct the Escrow Agent to cause notices of the redemption of the Refunded Bonds on such date or dates to be given in accordance with the provisions of the proceedings authorizing the issuance of the Refunded Bonds. SECTION 13. The Council hereby authorizes the City to make expenditures for the purpose for which the Series 2009A Bonds are to be issued in advance of the issuance and receipt of the proceeds of the Series 2009 Bonds and to reimburse such expenditures from the proceeds of the Series 2009 Bonds. The adoption of this resolution shall be considered as an • "official intent'' within the meaning of Treasury Regulation Section 1.150-2 promulgated under the Internal Revenue Code of 1986. SECTION 14. There is hereby delegated to the Chief Operating Officer/Chief Financial Officer the authority to take any action the City Manager is authorized to take under this resolution in the absence or unavailability of the City Manager. SECTION 15. The City Attorney of the City is 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 Circuit Court of the City in accordance with Section 15.2-2607 of the Code of Virginia, 1950. SECTION 16. All ordinances, resolutions and proceedings in conflict herewith are, to the extent of such conflict, repealed. SECTION 17. This resolution shall take effect upon its adoption. Approved by Council April 20, 2009 •Qgf of City Council 560892.1 032321 RES