Ord 1985-121 - Laserfiche WebLink

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have charge of all necessary orders and records pending investigation by the Attorney General of Texas, including the printing and supply of definitive Bonds, and shall take and have charge and control of the Initial Bond pending its approval by the Attorney General, the registration thereof by the Comptroller of Public Accounts of the state of Texas, and the delivery thereof to the Purchaser. The Mayor and City Secretary, either or both, are hereby further authorized and directed to furnish and execute such documents relating to the City and its financial affairs as may be necessary for the issuance of the Bonds, the approval by the Attorney General, and their rec¡istration by the Comptroller of Public Accounts and, together w1th the City's financial advisor, bond counsel and the Paying Agent/Registrar, make the necessary arrangements for the delivery of the Initial Bond to the Purchaser and the initial exchange thereof for definitive Bonds. Section 22. PRINTED OPINION. The purchaser's obligation to accept delivery of the Bonds is subject to its being furnished a final opinion of Hutchison Price Bo¥le & Brooks, Attorneys at Law, approving the Bonds as to their va11dity, such opinion to be dated and delivered as of the date of delivery of and payment for the Bonds. Printing of a true and correct copy of such opinion on the reverse side of each of the Bonds is hereby approved and authorized. section 23. CUSIP NUMBERS. CUSIP numbers may be printed on the Bonds. It is expressly provided, however, that the presence or absence of CUSIP numbers on the Bonds shall be of no sic¡nificance or effect as regards the legality thereof, and ne1ther the City nor the attorney approving the Bonds as to lec¡ality is to be held responsible for CUSIP numbers incorrectly pr1nted on the Bonds. section 24. REASON FOR REFUNDING. It is hereby found, determined and declared that the issuance, sale and delivery of the Bonds will result in a reduction of the total debt service to be paid by the City with respect to the obligations herein ordered to be refunded. Section 25. PUBLIC MEETING. It is hereby found, determined and declared that the meeting at which this Ordinance is adopted was open to the public and public notice of the time, place, and subject of said meeting, including this Ordinance, was given, all as required by the applicable provisions of Article 6252-17, Vernon's Texas civil statutes, as amended. section 26. EMERGENCY DECLARATION. The public importance of this measure and the fact that is to the best interest of the City to provide for the refunding of the obligations described in the preamble of this Ordinance at the earliest possible date, thereby reducing the debt service requirements with respect to the City's outstanding indebtedness, creates a necessity for the -17-