O-1991-1755 - Laserfiche WebLink

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. . . e been any material and adverse change in the affairs or financial condition of the City since September 30, 1990 the latest date as to which audited financial information is available; (6) A certificate, dated the date of Closing, of an appropriate official of the City to the effect that, on the basis of the facts, estimates and circumstances in effect on the date of delivery of the Bonds, it is not expected that the proceeds of the Bonds will be used in a manner that would cause the Bonds to be arbitrage bonds within the meaning of Section 148 of the Internal Revenue Code of 1986, as amended; (7) A copy of a special report prepared by the independent Certified Public Accountants named in the Official Statement, addressed to the City, Bond Counsel and the Underwriter verifying the arithmetical computations of the adequacy of the maturing principal and interest on the escrowed securitIes and uninvested cash on hand under the Escrow Agreement to pay, when due, the principal of and interest on the bonds bein~ refunded and the computation of the yield with respect to such seCUrIties and the Bonds; (8) Such additional legal opinions, certificates, instruments and other documents as Bond Counselor the Underwriter may reasonably request to evidence the truth, accuracy and completeness, as of the date hereof and as of the date of Closing, of the City's representations and warranties contained herein and of the statements and information contained in the Official Statement and the due performance and satisfaction by the District at or prior to the date of Closing of all agreements then to be performed and all conditions then to be satisfied by the City. All of the opinions, letters, certificates, instruments and other documents mentioned above or elsewhere in this Bond Purchase Agreement shall be deemed to be in comJ?liance with the provisions hereof if, but only if, they are satisfactory to the UnderwrIter. If the City shall be unable to satisfy the conditions to the obligations of the Underwriter to purchase, accept delivery of and pay for the Bonds, as set forth in this Bond Purchase Agreement, or if the obligations of the Underwriter to purchase, accept delivery of and pay for the Bonds shall be terminated for any reason permitted by this Bond Purchase Agreement, this Bond Purchase Agreement shall terminate, and neither the Underwriter nor the City shall be under further obligation hereunder, except that the respective obligations of the City and the Underwriter set forth in Paragraphs 8 and 10 hereof shall continue in full force and effect. 8. Termination. The Underwriter may terminate its obligation to purchase the Bonds at any time before Closing if any of the following should occur: -7-