Res 1991-018 - Laserfiche WebLink

Home Browse Search

include a study of the trend of the assessed valuation, taxing power and present and future taxing requirements of the Issuer. In the event revenues of existing or projected facilities operated by the Issuer are to be pledged to repayment of the Debt Instruments then under consideration, the survey will take into account any outstanding indebtedness payable from the revenues thereof, additional revenues to be available from any proposed rate increases and additional revenues, as projected by consulting engineers employed by the Issuer, :resulting from improvements to be financed by the Debt Instalments under consideration. We will also rake into account future financing needs and operations as projected by the Issuer's staff and consulting engineers or other experts, if any, employed by the Issuer. 2. On the basis of the information developed by the survey described above, and other information and experience avaflabte to us, we will submit to the Issuer our recommendations on the Debt Instruments under consideration including such elements as the date of issue, interest payment dates, schedule of principal maturities, options of prior payment, security proviSiOns, and any other additional provisions designed to make the iSsue attractive to investors. All recommendations will be based upon our professional judgment with the goal of designing Debt Instruments which can be sold unfler terms most advantageous to the Issuer and at the lowest interest cost consistent with all other considerations. 3. We will advise the Issuer of current bond market conditions, forthcoming bond issues and other general information and economic data which might normally be expected to influence interest rates or bidding conditions so that the date of sale of the Debt Instruments may be set at a time which, in our opinion, will be favorable. 4. We understand the Issuer has retained, or will retain, afirm of municipal bond attorneys (the~ Bond Counsel")whose fees will be paid by the Issuer. In the event it is necessary to hold an election to authorize the Debt Instruments then under consideration, we will assist in coordinating the assembly and transmittal to Bond CoUnsel of such data as may be required for the preparation of necessary petitions, orders, resolutions, ordinances, notices and certificates in connection with the election. 5. We will recommend the method of sale of the Debt Instruments that, in our opinion, is in the best interest of the Issuer and will proceed, as directed bythe Issuer, with one of the following methods: -2-