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Section 8. Anthr>ri7ation nf Payments . The City Treasurer is hereby authorized and <br />directed on the date of issuance and delivery of the Bonds to pay from the proceeds of the sale of the <br />Bonds the fees and expenses of the following persons incurred in connection with the issuance of <br />the Bonds up to the maximum amount set forth opposite the name of such person upon receipt by <br />the Authority of a satisfactory statement therefor: <br />Service <br />Performed <br />Maximum <br />Amount <br />Financial Consultant <br />Trustee and Escrow Agent <br />Bond Counsel <br />Rating of Bonds <br />Payes <br />Ehlers & Associates, Inc. <br />Minneapolis, Minnesota <br />Firstar Bank of Minnesota, <br />Dorsey & Whitney LLP <br />Moody's Investors Service, Inc, <br />The claims of the above persons up to the maximum amount set forth opposite the name of such <br />person *3 hereby approved and no further action of this Board shall be necessary in connection with <br />the payment of such fees and expenses of issuance of the Bonds. <br />Section 9. Qualified Tax-F.xemnt Obligations . In order to enhance the marketability <br />of the Bonds, and since the Authority and all subordinate entities do not reasonably expect to issue <br />in excess of $10,000,000 of governmental and qualified 50l(cX3) bonds during calend^ year 1998, <br />the Bonds are hereby designated by the Authority as "qualified tax-exempt obligations" pursuant to <br />Section 265(b) of the Code. <br />Section 10. Redemption of Refunded Bonds and Certification of PrOCecdiOgS- <br />(a) The Secretary is directed to call the Refunded Bonds for redemption and <br />prepayment at their earliest permissible redemption date (Feb^ 1,2001) and to give notice of <br />redemption in accordance with the resolution authorizing the issuance of the Refunded Bonds. <br />Page 5 of 7