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RESOLUTION 98-014.]
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<br /> WHEREAS, the other documents listed below are also on file with the Clerk of the
<br />Council, and the Council, with the assistance of City and Agency Staff and consultants, has
<br />reviewed said documents and now desires to approve them so that the refinancing program can
<br />be consummated.
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<br /> NOW, THEREFORE, it is hereby DECLARED, ORDERED and DETERMINED as
<br />follows:
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<br /> Section 1. Approval of Financing Documents. The below-enumerated documents be and
<br />are hereby approved, and the Mayor, the City Manager or the Executive Director, Finance &
<br />Management Services Agency, is hereby authorized and directed to execute and deliver, for and
<br />on behalf of the City, said documents each in the form on file with the Clerk of the Council
<br />together with such changes, insertions and omissions as may be approved by the official
<br />executing such documents upon consultation with the City Attorney and Bond Counsel, the
<br />approval thereof to be conclusively evidenced by the execution and delivery by the City of the
<br />respective documents. The Clerk of the Council is hereby authorized and directed to attest to
<br />such official's signature to such documents, where indicated by any such document.
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<br /> (a) an Interim Site and Facility Lease, between the City, as lessor, and the
<br />Authority, as lessee;
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<br /> (b) an Interim Lease Agreement, by and between the Authority, as lessor, and the
<br />City, as lessee (the "Interim Lease Agreement"), so long as the maximum net annual
<br />lease payments to be paid by the City under the Interim Lease Agreement do not exceed
<br />$3,000,000, and so long as the term of the Interim Lease Agreement does not exceed 2
<br />years;
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<br /> (c) an Interim Reimbursement Agreement, by and between the City and the
<br />Agency;
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<br /> (d) A Site and Facility Lease, between the City as lessor, and the Authority, as
<br />lessee;
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<br /> (e) a Lease Agreement, by and between the Authority, as lessor, and the City, as
<br />lessee (the "Lease Agreement"), so long as the maximum net annual lease payments to
<br />be paid by the City under the Lease Agreement do not exceed $2,500,000, and so long
<br />as the term of the Lease Agreement does not extend beyond September 2, 2029;
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<br />(f) a Reimbursement Agreement, by and between the City and the Agency; and
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<br /> (g) a Continuing Disclosure Certificate-City, by the City as acknowledged by the
<br />trustee for the Bonds.
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<br /> Section 2. Sale of the Bonds. The Council hereby approves the sale of the Bonds to
<br />Stone & Youngberg LLC (the "Underwriter") pursuant to the terms of a Purchase Agreement
<br />between the Authority and the Underwriter, the form of which is on file with the Clerk of the
<br />Council, so long as the net interest cost of the Bonds is not in excess of six and one-half percent,
<br />and the Underwriter's discount (without regard to any original issue discount) is not in excess
<br />of two and one-half percent. The Council hereby authorizes the City Manager or the Executive
<br />Director, Finance and Management Services Agency to execute the Purchase Agreement, if
<br />requested by the Underwriter, in such form and with such changes as the official executing the
<br />same may approve.
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