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2010-005 CRA
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2010-005 CRA
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Last modified
1/3/2012 12:20:48 PM
Creation date
12/15/2010 5:18:55 PM
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City Clerk
Doc Type
Resolution
Doc #
2010-005 CRA
Date
12/6/2010
Destruction Year
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the Executive Director, or any designee thereof, shall be conclusive evidence of the <br />approval of any such additions and changes. The Executive Director, or any designee <br />thereof, is hereby authorized and directed to execute, and the Secretary is hereby <br />authorized and directed to attest to, the final form of the 1998C Escrow Agreement for <br />and in the name and on behalf of the Agency. The Agency hereby authorizes the <br />delivery and performance of the 1998C Escrow Agreement. <br />(d) The Agency hereby approves an escrow agreement relating to the refunding <br />of the 1998D Bonds (the "1998D Escrow Agreement"), by and among the Authority, the <br />Agency and the Escrow Bank, in the form on file with the Secretary, together with such <br />additions thereto and changes therein as the Executive Director, or any designee <br />thereof, shall deem necessary, desirable or appropriate, and the execution thereof by <br />the Executive Director, or any designee thereof, shall be conclusive evidence of the <br />approval of any such additions and changes. The Executive Director, or any designee <br />thereof, is hereby authorized and directed to execute, and the Secretary is hereby <br />authorized and directed to attest to, the final form of the 1998D Escrow Agreement for <br />and in the name and on behalf of the Agency. The Agency hereby authorizes the <br />delivery and performance of the 1998D Escrow Agreement. <br />SECTION 5. Sale of the 2010 Bonds. The Agency hereby authorizes the sale of <br />the 2010A Bonds to the Authority for concurrent re-sale to Stone & Youngberg LLC and <br />E. J. De La Rosa & Co., Inc. (the "2010A Underwriters"), so long as the total 2010A <br />Underwriters' discount, excluding original issue discount which does not constitute <br />compensation to the 2010A Underwriters, does not exceed 1% of the principal amount <br />of the 2010A Bonds, so long as the true interest cost of the 2010A Bonds does not <br />exceed 6.5% and so long as the final maturity date of the 2010A Bonds is no later than <br />September 1, 2035. The Agency hereby authorizes the sale of the 2010B Bonds to the <br />Authority for concurrent re-sale to Stone & Youngberg LLC (the "2010B Underwriter"), <br />so long as the total 2010B Underwriter's discount, excluding original issue discount <br />which does not constitute compensation to the 2010B Underwriter, does not exceed 1 % <br />of the principal amount of the 2010B Bonds, so long as the true interest cost of the <br />2010B Bonds does not exceed 9% and so long as the final maturity date of the 2010B <br />Bonds is no later than September 1, 2035. The Agency hereby approves a bond <br />purchase agreement relating to the 2010 Bonds, by and among the 2010A <br />Underwriters, the Authority and the Agency with respect to the 2010A Bonds, and by <br />and among the 2010B Underwriter, the Authority and the Agency with respect to the <br />2010B Bonds, in the form on file with the Secretary (the "2010 Bond Purchase <br />Agreement"), together with such additions thereto and changes therein as the Executive <br />Director, or any designee thereof, shall deem necessary, desirable or appropriate, and <br />the execution thereof by the Executive Director, or any designee thereof, shall be <br />conclusive evidence of the approval of any such additions and changes. The Executive <br />Director, or any designee thereof, is hereby authorized and directed to execute the final <br />form of the 2010 Bond Purchase Agreement for and in the name and on behalf of the <br />Agency. <br />SECTION 6. Approval of the Preliminary Official Statement. The preliminary <br />official statement describing the 2010 Bonds on file with the Secretary (the "Preliminary <br />Official Statement") is hereby approved for distribution by the Underwriter to municipal <br />Resolution No. CRA 2010-005 <br />Page 5 of 7
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