Laserfiche WebLink
City of Tukwila My WebLink |HelpSearch Tips |About |Sign Out
(2) the final maturity date for the Bonds is no later than December 1, 2037; <br />(3) the aggregate purchase price for the Bonds shall not be less than 98% of <br />the aggregate stated principal amount of the Bonds, excluding any original issue <br />discount; and <br />(4) the true interest cost for the Bonds (in the aggregate) does not exceed <br />4.50%. <br />Subject to the terms and conditions set forth in this section, the Designated <br />Representative is hereby authorized to execute the appropriate Sale Document on <br />behalf of the City. <br />Following the execution of the Sale Document, the Designated Representative shall <br />provide a report to the Council describing the final terms of the Bonds approved <br />pursuant to the authority delegated in this section. The authority granted to the <br />Designated Representatives by this Section 12 shall expire 180 days after the effective <br />date of this ordinance. If a Sale Document for the Bonds has not been executed within <br />180 days after the effective date of this ordinance, the authorization for the issuance of <br />the Bonds shall be rescinded, and the Bonds shall not be issued nor their sale <br />approved unless such Bonds are re-authorized by ordinance of the Council. The <br />ordinance re-authorizing the issuance and sale of such Bonds may be in the form of a <br />new ordinance repealing this ordinance in whole or in part or may be in the form of an <br />amendatory ordinance approving a Sale Document or establishing terms and conditions <br />for the authority delegated under this Section 12. <br />(e) Delivery of Bonds; Documentation. Upon the passage and approval of this <br />ordinance and execution of the Sale Document, the proper officials of the City, including <br />the Designated Representative, the City Administrator, the Mayor and the City Clerk, <br />are authorized and directed to undertake all action necessary for the prompt execution <br />and delivery of the Bonds to the Underwriter and further to execute all closing <br />certificates and documents required to effect the closing and delivery of the Bonds in <br />accordance with the terms of the Sale Document. Such documents may include, but <br />are not limited to, documents related to a municipal bond insurance policy delivered by <br />an insurer to insure the payment when due of the principal of and interest on all or a <br />portion of the Bonds as provided therein, if such insurance is determined by the <br />Designated Representative to be in the best interest of the City. <br />Section 13. Preliminary and Final Official Statements. The Designated <br />Representative is hereby authorized to deem final the preliminary Official Statement <br />relating to the Bonds for the purposes of the Rule. The Designated Representative is <br />further authorized to approve for purposes of the Rule, on behalf of the City, the final <br />Official Statement relating to the issuance and sale of the Bonds and the distribution of <br />the final Official Statement pursuant thereto with such changes, if any, as may be <br />deemed by him or her to be appropriate. <br />W: Word Processing\Ordinances\LTGO Bonds-Street improvements 5-31-17 <br />PM:bjs Page 14 of 16 <br />24 <br />