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3. Purchase Price. The sale of the Bonds is authorized pursuant to the form of Bond <br />Purchase Agreement approved in the Ordinance at the following price: <br />PRINCIPAL AMOUNT $ <br />[Plus/Less] Original Issue [Premium/Discount] _ <br />Less Underwriters' Discount <br />PURCHASE PRICE $ <br />It is hereby found and declared that the sale of the Bonds pursuant to the Bond <br />Purchase Agreement at such price is on the best terms and at the best prices <br />reasonably obtainable by the City. <br />5. Escrow Agreement and Deposit. The Escrow Agreement attached as Attachment <br />A hereto is hereby approved. Pursuant to Sections 7.6 and 7.8 of the Ordinance, <br />$ from the proceeds of the Bonds shall be deposited into the <br />Escrow Fund created pursuant to the Escrow Agreement and applied to purchase <br />the escrowed securities. <br />6. Form of Bond. Pursuant to Article IV of the Ordinance, the Form of Bond as set <br />forth in Attachment B hereto is hereby approved and supersedes the Form of <br />Bond set forth in the Ordinance. <br />7. The Refunded Obligations shall be those bonds identified in Attachment C hereto. <br />Pursuant to Section 8.1 of the Ordinance, the City shall provide annually to the <br />MSRB, (A) within six months after the end of each fiscal year of the City, <br />financial information and operating data with respect to the City of the general <br />type included in the final Official Statement, being the financial information and <br />operating data described in the Official Statement in Appendix A (Tables 1 and 3- <br />11), and (B) if not provided as part such financial information and operating data, <br />audited financial statements of the City, when and if available. <br />9. Pursuant to Section 3.4 of the Ordinance, we hereby further find and determine <br />that: <br />a. The net effective interest rate on the Bonds does not exceed 4.00%; <br />b. The aggregate principal amount of the Bonds does not exceed the <br />maximum amount authorized in Section 3.1 of the Ordinance and, when <br />added to any net premium, is equal to an amount sufficient to provide for <br />the costs and expenses of refunding the Refunded Obligations and the <br />estimated costs of issuance of the Bonds, including underwriters' discount. <br />The net present value savings to the City is at least 7.00% of the principal <br />amount of the Refunded Obligations, as shown on Attachment D hereto; <br />and <br />d. The final maturity date of the Bonds does not exceed March 15, 2029. <br />A-3 <br />HOU:3622910.1 <br />