Ord 2007-007 - Laserfiche WebLink

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(d) All officers of the City are authonzed to do any and all thmgs to execute and dehver any and all documents, certificates or other mstruments necessary or reqUired for the issuance of any pohcy or pohcies of mumcipal bond msurance relatmg to the Certificates The ordmance reqUirements and accompanymg commItments for such msurance are hereby approved and made a part of thiS Ordmance by reference To the extent permitted by apphcable law, the City will comply With all notice and other applicable reqUirements of the msurer issumg the mumcipal bond msurance pohcy and financial guaranty msurance m connectiOn With the issuance of the Bonds, as such requlfements may be m the effect and transmitted to Bond Counsel With such msurer's commitment to issue such msurance (e) The obhgatiOn of the Purchaser to accept dehvery of the Certificates is subject to the Purchaser's bemg furnished With the final, approvmg opimon of McCall, Parkhurst & Horton L.L.P , Bond Counsel for the City, whIch opmiOn shall be dated and dehvered the Closmg Date. The engagement of such firm as bond counsel for the City m connectiOn With the issuance, sale and dehvery of the Certificates is hereby approved, ratified and confirmed. SectiOn 7 02 Control and Dehvery of Certificates (a) The Mayor of the City is hereby authonzed to have control of the Imtial Certificate and all necessary records and proceedmgs pertaimng thereto pendmg mvestigatiOn, exammatiOn and approval of the Attorney General of the State of Texas, registration by the Comptroller of Pubhc Accounts of the State of Texas, and registratiOn With, and imtial exchange or transfer by, the Paymg Agent/Registrar. (b) After registratiOn by the Comptroller ofPubhc Accounts of the State of Texas, dehvery of the Certificates shall be made to the Purchaser under and subject to the general superviSiOn and dlfection of the Mayor of the City, agamst receipt by the City of all amounts due to the City under the terms of sale ARTICLE VIII CREATION OF FUNDS AND ACCOUNTS, DEPOSIT OF PROCEEDS, INVESTMENTS SectiOn 8 01 CreatiOn of Funds (a) The City hereby estabhshes the followmg speCial funds or accounts. (i) the City of San Marcos, Texas, Combmation Tax and Revenue Certificates of ObhgatiOn, Senes 2007, Interest and Smkmg Fund (the "Interest and Smkmg Fund"), and (u) the City of San Marcos, Texas, CombmatiOn Tax and Revenue Certificates of Obhgation, Senes 2007, ConstructiOn Fund (the "Construction Fund"). (b) The Interest and Smkmg Fund and the Construction Fund shall be mamtamed at an offiCial depOSitory ofthe City San Marcos CTRCO 2007- Ordinance 23