1985-09-24 Special Meeting - Laserfiche WebLink

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~ ~ benefits of this Ordinance equally and ratably with all other outstanding Bonds. Section 24: That the City covenants at all times to maintain a Paying Agent/Registrar for the Bonds meeting the qualifications herein set forth, and subject to the remaining provisions of this Section 24 hereby appoints First City National Bank of Houston, Houston, Texas, ini- tially to serve in such capacity. The form, terms and provisions of the proposed Agreement between the City and First City National Bank of Houston providing for such appointment which is attached to this Ordinance as Exhibit A are hereby approved in all respects, and the Mayor and City Secretary are hereby authorized and directed to execute and deliver an agreement substantially in the form attached hereto, with such changes therein as the officers executing the same shall, as evidenced by their signatures thereon, approve. The City expressly reserves the right to appoint one or more successor Paying Agent/Registrars by (1) filing with the Paying Agent/Registrar then serving a certified copy of a resolution or ordinance giving notice of the termination of the City's agreement with such Paying Agent/ Registrar and appointing a successor and (2) giving notice to all of the registered owners of the Bonds and to the Municipal Advisory Council of Texas or its successor. Every Paying Agent/Registrar appointed hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or of any State, authorized under such laws to exercise trust powers, and subject to supervision or examination by Federal or State authority. Section 25: That public advertisement for the sale of the Bonds and bids to purchase the Bonds having been received pursuant thereto, it is here~j y found and~pdeclared that t e bids submitted by Un~lc~wooX , /Ve-u~QUS J4j, -~~~ai,6 `r.~~.E', a.~/ ~SdCi4~Y-S is the best bid received; and the sale of the Bonds to the named best bidder, at a price equal to the principal amount of the Bonds plus accrued interest thereon from the date thereof to the date of actual delivery, plus a cash premium of $ -D - subject to the unqualified approving cash opinion, as to the legality of the Bonds, of the Attorney General of the State of Texas and Baker & Botts, Houston, Texas, market attorneys, is hereby authorized, ratified, approved and confirmed. When the Initial Bonds have been approved by the said Attorney General and registered by the Comptroller of Public Accounts of the State of Texas, they shall be delivered to the purchasers upon receipt of the full purchase price. The Mayor, City Secretary and other appropriate officers of the City are authorized and directed to perform all acts necessary and/or convenient to carry out the terms of this Ordinance. Section 26: That this Ordinance shall take effect immediately upon its adoption. 002RDRAW/193B01 -16-