Ord 1994-058 - Laserfiche WebLink

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;)?W approved by the Mayor of the City and the Purchaser of the Bonds, may be used by the Purchaser in the public offering and sale thereof. The use and distribution of the Official Statement in the public offering I of the Bonds by the Purchaser is hereby ratified, approved and confirmed. The City Secretary of the City 1 I I is hereby authorized and directed to include and maintain a copy of the Official Statement and any addenda, supplement or amendment thereto thus approved among the permanent records of this meeting. The use and distribution of the Official Statement for the Bonds and the preliminary public offering of the Bonds by the Purchasers is hereby ratified, approved and confirmed. (c) All officers of the City are authorized to take such actions and to execute such documents, - certificates and receipts as they may deem necessary and appropriate in order to consummate the delivery of the Bonds. ~ In the event municipal bond bruaranty insurance is obtained for the Bonds pursuant to the (d) terms of sale of the Bonds as set forth in the winning bid, all officers of the City are authorized to do any and all things to execute and deliver any and all documents, certificates or other instruments necessary or required for the issuance of a municipal bond insurance policy relating to the Bonds. To the extent permitted by applicable law, the City will comply with all notice and other applicable requirements of the insurer issuing the municipal bond insurance policy in connection with the issuance of the Bonds, as such requirements may be in the effect and transmitted to Bond Counsel with such insurer's commitment to issue such insurance. (e) The obligation of the Purchaser to accept delivery of the Bonds is subject: to the Purchaser being furnished with the final, approving opinion of Hutchison Boyle Brooks & Fisher, A Professional Corporation, Bond Counsel for the City, which opinion shall be dated as of and'delivered on the Closing Date. Section 7.02. Control and Deliverv of Bonds. (a) The Mayor of the City is hereby authorized to have control of the Initial Bond and all necessary records and proceedings pertaining thereto pending investigation, examination and approval of the Attorney General of the State of Texas, registration by the Comptroller of Public Accounts ofthe State of Texas, and registration with, and initial exchange or transtèr by, the Paying AgentlRegistrar. (b) After registration by the Comptroller of.Public Accounts, delivery of the Bonds shall be made to the Purchaser under and subject to the general supervision and direction of the Mayor of the City, against 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 establishes the following special funds or accounts: (i) the City of San Marcos General Obligation Bonds, Series 1994, Interest and Sinking Fund (the "Interest and Sinking Fund "); and SA), 'M. -\Ro\ GO S'l\DOCS' 0 RD N CE.HBB F 20