Res 1985-031 - Laserfiche WebLink

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interest on the Bonds is exempt from Federal income taxation under applicable statutes, published rulings, regulations, and court decisions. The customary closing papers, including a certificate to the effect that no litigation of any nature has been filed or is then pending to restrain the issuance and delivery of the Bonds, or which filed or is then pending to restrain the issuance and delivery of the Bonds, or which would affect the provision made for their payment or security, or in any manner questioning the validity of said Bonds will also be furnished. Bond Counsel was not requested to participate, and did not take part, in the preparation of the Notice of Sale and Bidding Instructions. the Official Bid Form and the Official Statement, and such firm has not assumed any responsibility with respect thereto or undertaken independently to verify any of the information contained thereip, except that, in its capacity as Bond Counsel. such firm has reviewed the information describing the Bonds in the Official Statement to verify that such description conforms to the provisions of the bond Ordinance. The legal fees to be paid Bond Counsel for services rendered in connection with the issuance of the Bonds are contingent on the sale and delivery of the Bonds. The legal opinion will be printed on the Bonds. AUTHENTICITY OF FINANCIAL INFORMATION The financial data and other information contained herein have been obtained from the Citv's records, audited financial statements and other sources which are believed to be reliable. There is no guarantee that any of the assumptions or estimates contained herein will be realized. All of the summaries of the statutes. documents and resolutions contained in this Official Statement are made subject to all of the provisions of such statutes. documents and resolutions. These summaries do not purport to be complet~'statements of such provisions and reference is made to such documents for further information. Reference is made to original documents in all respects. FINANCIAL ADVISOR First Southwest Company is employed as Financial Advisor to the City in connection with the issuance of the Bonds. The Financial Advisor's fee for services rendered with respect to the sale of the Bonds is contingent upon the issuance and delivery of the Bonds. Fi rst Southwest Company may submit a bid for the Bonds. either independently or as a member of a syndicate organized to submit a bid for the Bonds. CERTIFICATION OF THE OFFICIAL STATEMENT At the time of payment for and delivery of the Bonds, the Purchaser will be furnished a certificate, executed by proper officers, acting in their official capacity, to the.effect that to the best of their knowledge and belief: (a) the descriptions and statements of or pertaining to the City contained in its Official Statement. and any addenda. suDPlement or amendment with respect to such descriptions or statements thereto. on the date of such Official Statement. on the date of sale of said Bonds and the acceptance of the best bid therefor, and on the date of the delivery, were and are true and correct in all material respects; (b) insofar as the City and its affairs. including its financial affairs, are concerned. such Official Statement did not and does not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; (c) insofar as the descriptions and statements. including financial data. of or pertaining to entities. other than the District and their activities contained in such Official Statement are concerned, such statements and data have been obtained from sources which the City believes to be reliable and that the Cit~ has no reason to believe that they are untrue in any material respect; and (d) t ere has been no material adverse change in the financial condition of the City since the date of the last audited financial statements of the District. The Resolution authorizing the issuance of the Bonds will also approve the form and content of this Official Statement. and any addenda, supplement or amendment thereto issued on behalf of the City and authorize its further use in the reofferinq of the Bonds bv the Purchaser. DR. EM~IE CRADDOCK Mayor ATTEST: JANICE Wor~ACK City Secretary -26-