Ordinance 1993-1130 - Laserfiche WebLink

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(k) Pursuant to Section 11-56-107(1), C.R.S., the Council hereby determines that the principal amount of the Bonds may exceed the principal amount of the Refunded Bonds since the sum of the aggregate principal and net interest cost of the Bonds for the perind ending on the scheduled fmal maturity date of the Refunded Bonds does not exceed the aggregate principal and net interest cost of the Refunded Bonds for the same time period. (1) The Purchaser, simultaneously with the submission of the proposal, disclosed in writing the information required by Section 11-56-104.5, C. R. S.. such information to be updated by the Purchaser to the date of closing at the time of closing. (m) The Council has determined, and hereby determines, that it is to the best advantage of the City to issue the Bonds for the purpose of defraying the costs of the Refunding Project. (n) The Bonds authorized by this Ordinance shall be payable from the Capital Improvement Fund and the available proceeds of the Pledged Revenues and shall have a fIrst and prior lien (but not necessarily an exclusive first lien) on such Capital Improvement Fund and the Pledged Revenues. (0) The City has received a proposal from the Purchaser concerning the purchase of the Bonds. (p) The Council has determined, and hereby determines, that the Bonds shall be sold to the Purchaser in accordance with its proposal, and that such sale is to the best advantage of the City. (q) There have been fIled with the City Clerk: (i) the form of an Escrow Agreement; (ii) the form of a Preliminary Official Statement for the Bonds; (Hi) the form of the Letter of Representations; (iv) the form of the Paying Agent Agreement; and (iv) the form of the Bond Purchase Agreement. - 11 -