O-1979-1158 - Laserfiche WebLink

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e e section 9: That the City hereby covenants with . the purchasers and any subsequent holders of said bonds that the City will not make any use of the proceeds of said bonds which will cause said bonds to be or become arbitrage bonds within the meaning of Section 103(c) of the Internal Revenue Code of 1954, as amended, or any regulations promulgated thereunder, and that the City will otherwise comply with the pertinent provisions of said Section 103(c) and regulations in order that said bonds will not be or become arbitrage bonds thereunder. section 10: That public advertisement for the . sale of said bonds having been made and bids to purchase said bonds having been received pursuant thereto, it is hereby found and declared that the bid submitted by Fr;,.~t C,-fy Nfrf/tJ/}AI ~~"Il:. t)f- 1-I~"I.sf,;/} is the best bid re- , ceivedi and that the sale of such bonds to the named best bidder, at a price equal to the principal amount of such bonds plus accrued interest thereon from the date thereof to the date of actual delivery, plus a cash premium of $ -0-, sUbject to,the unqualified approving opinion, as to the legality of said 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 said 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 pur- chaser upon receipt of the full purchase price. The Mayor, City Clerk 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. " -8-