08-28-2000 Council Packet - Laserfiche WebLink

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records relating to the issuance of said General Obligation Improvement Bonds, Series 2000 and to the right, power and authority of the City and its officers to issue the same, and said certified copies and certificates shall be deemed the represe»itations of the City as to all matters stated therein. 15. The Official Statement relating to the Bonds, on file with the Clerk and presented to this meeting, is hereby approved and its designation as a "near final" Official Statement for purposes of Rule 15c2-l2 of the Securities and Exchange Commission and the furnishing thereof to prospective purchasers of the Bonds are hereby ratified and confirmed, insofar as the same relates to the Bonds and the sale thereof. 16. The officers of the City are hereby authorized and directed to prepare and furnish to the Secretary of the Treasury a statement meeting the information reporting requirements of Section 149(e) of the Internal Revenue Code of 1986, as amended (the "Code"), by the 15th day of the second calendar month after the close of the calendar quarter in which the Bonds are issued. 17. The City shall not take or permit any action that would cause the Bonds to be "private activity bonds" within the meaning of Section 141 of the Code. The City shall comply with the rebate requirements imposed under Section 148(f) of the Code and regulations thereunder, including (if applicable) the requirement to make periodic caiculations of the amount subject to rebate thereunder and the requirement to make all required rebates to the United States. The Finance Director of the City is hereby authorized to make on behalf of the City all elections that he may deem necessary and expedient under Section 148 of the Code. In addition, the City shall make no investment of funds that would cause the Bonds to be "arbitrage bonds" within the meaning of Section 148 of tlie Code and regulations thereunder. All terms used in this paragraph 17 shall have the meanings provided in the Code and regulations thereunder. 18. The Bonds are hereby designated "qualified tax exempt obligations" for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986. 19. The City Clerk shall furnish a certified copy of this resolution to the County Auditor of Hennepin County, and obtain the County Auditor ’s certificate as required by law. The motion for the adoption of the foregoing resolution was duly seconded by Member__________________upon vote being taken thereon the following voted in favor thereof: and the following voted against the same: -16- L