R-2005-12 (see sticky note/resolution was on 7/25/05 agenda) authorizing sale of $1.8 million in certificates of obligation

Browse Search

e e Mayor and City Council Members City of La Porte June 22, 2005 Page 2 (6) Review of such other documents or preparation of such certificates as are customary and necessary; (7) Assistance to the City in obtaining Attorney General approval of debt issues; (8) Rendering a legal opinion generally to the effect that the Bonds have been duly authorized in accordance with the Constitution and laws of the State of Texas, that the Bonds constitute valid and legally binding obligations of the City secured by a lien on the pledge of the taxes or revenues pledged to their payment in the Ordinance authorizing their issuance (subject to bankruptcy, insolvency, reorganization, moratorium and other similar laws in effect from time to time relating to or affecting the enforcement of rights of creditors of political subdivisions) and that, subject to certain restrictions, interest on the Bonds is excludable from the gross income of the owners thereof for federal income tax purposes under then existing law; (9) Assistance to City staff and the City's financial advisor in evaluating other finance-related legal matters or financing innovations and opportunities as may arise from time to time; (10) Provision of similar services related to the issuance of each series of the Bonds as requested; (11) Attendance at meetings, to the extent required or requested by the City or the City's financial advisor, to discuss the sizing, timing or sale of each series of the Bonds; (12) Supervision of the printing of each series of the Bonds and the delivery thereof to the purchasers, including, if requested, solicitation of bids from bond printers under the direction of the City to obtain the lowest possible printing costs for the City; (13) Prior to and in connection with the closing of each series of the Bonds, giving advice to the City to enable appropriate officials to comply with the arbitrage requirements ofthe Internal Revenue Code of 1986 as they affect the Bonds, including yield restrictions and rebate requirements; (14) Attendance at bond sale, signing, closing and all other meetings and conferences as deemed necessary by the City Councilor City Manager; (15) Preparation of Federal Income Tax Form 8038-G; (16) At the closing of each series of the Bonds, delivery of an opinion regarding the applicability of federal and Texas state securities laws to such series, the eligibility of the Bonds for investment by various fiduciaries and other regulated investors in Texas and the validity and HOU:2467427,1