1989-01-31 - Laserfiche WebLink

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270 NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA: 1 The Council of the City hereby finds and determines: (a) The' Proposal ~(the ,,Proposal:)of Craigie'~ Incorporated and~Associates (the "Purchaser'!), to purchase from the City its five million dollars ($5,000,000) aggregate principal amount of "City of Charlottesville, Virginia, Public Improvement Bonds, Series 1989, dated January 15, 1989" (defined in the recitals hereto as the "Bonds" or the "1989 Bonds'), authorized to be issued by the Bond Ordinance, has in all respects been submitted in the proper form and in a timely manner. Defects, if any, in the form of the Proposal or in the manner of its submission are hereby waived. ~ (b) Of all proposals submitted in response to~ the Detailed' Notice of Sale referred to in paragraph 3, the Proposal of the Purchaser is the one offering to purchase the Bonds at the lowest "True" or "Canadian,, interest cost to the City. 2. The proposal of the Purchaser to purchase the Bonds for a purchase price equal to the principal amount thereof plus a premium of No Dollars ($-0-) and accrued interest from the date of the Bonds to the date of the payment in full of the purchase price thereof is hereby accepted. In accordance with the terms of the Proposal of the Purchaser, the Bonds shall bear interest at the rates per annum as set forth in paragraph 4. 3. Ail action taken to date by the officials of the City with respect to the sale of the Bonds, including the action of the City Manager in causing to be published on January 19, 189 in The Bond Buyer, a financial newspaper published in the City of New York, New York, the Summary Notice of Sale, and the actions of the City Manager, the Director of Finance and other officials of the City in causing to be distributed copies of a Preliminary Official Statement .relating to the Bonds, dated January 19, 1989, the Detailed Notice of Sale and a Proposal Form for the submission of proposals for the purchase of the Bonds in the respective forms thereof presented at the meeting of the. Council at which this resolution is being adopted and the form and contents of such Preliminary Official Statement, Summary Notice of Sale, Detailed Notice of Sale and Proposal Form, and the details of the Bonds described therein, and the determination of the City. in accordance with the last sentence of paragraph 7 of the Bond Ordinance to apply' the proceeds of the 1987 Bonds and the 1989 Bonds to the public improvement projects described in the respective Official Statements relating to the 1987 Bonds and the 1989 Bonds in the amounts set forth therein, are hereby approved, ratified and confirmed. The City Manager and the Director of Finance of the City are hereby authorized to prepare and deliver to the Purchaser a final Official Statement relating to the Bonds, dated the date of adoption of this resolution, substantially in the form of the Preliminary Official Statement, and to execute and deliver to the Purchaser the "Certificate Concerning Official Statement,' described in such final Official Statement. 4. (a) The Bonds shall be dated January 15, 1989 and shall mature serially on July 15 in the principal amount of $250,000 in each of the years 1990 through 2009, both inclusive. The Bonds maturing in each year shall bear interest from their date payable on July 15, 1989 and semiannually on each January 15 and July 15 thereafter to the maturity date thereof at the rate per annum set forth opposite such year below: