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. o,�,. � . � � 0 0 • �� CITY of ORONO � �-- : - � ti �� G�' � RESOLUTION OF THE CITY COUNCIL . `9kEsII�g' NO. � � � `� . . faith, credit and unlinuted taxing powers of the City have been and are hereby pledged; and . the City Council shall levy additioilal general ad valorem taxes on all taxable property in the City, if necessary, to pay the principal of aYnd interest on the Bonds when due. � --�- -� - - - -� ----��-- - --- --�12.-� ----The-City Clerk is authorized and directed to prepare and furnish to the .- ---- - purchaser and to the attoineys approving the Bonds, certified copies of all proceedings and records relating to the issuance of said General Obligation Iinprovement Refunding Bonds, Series 2004B and to the right, power and authority of the City and its officers to issue the � saine, and said certified copies and cei-tificates shall be deemed the representations of the City . as to all matters stated therein. � 13. The Official Statenlent relating to the Bonds, on file in the office of the Clerlc and presented to this meeting,is hereby approved and its designation as a"near final" � Official Statement for purposes of Rule 15c2-12 of the Securities and Exchange Commission • and the furnishing thereof to prospective purchasers of the Bonds are hereUy ratified and . confii-med, insofar as the same relates to the Bonds and the sale thereof. The Continuing Disclosure Certificate included in the Official Statement is hereby approved and shall be executed and delivered in connection with the deliveiy of the Bonds. The Continuing Disclosure Certificate constit�.ites a con�i actual obligation in accordance with its ternls. _ 14. 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. �� . 15. The City shall not take or permit any action that would cause the Bonds to Ue "private activity bonds" within the meaning of Section 141 of the Code. The City shall comply with the rebate requirements imposed under Section 148(fl of the Code and . . ; regulations thereunder, including(if applicable) the requirement to make periodic . � cal.culations of the amount subject to rebate thereunder and the requirement to make all � -,t:. ��.,.......:� ..,, �.:.., ... , ,,., ., _,_-. . . . . � .,.��. x,.�. � ! �reqiiired rebate's to�tlie�IJnited�States.T The City Clerk and City Adriiiriisfra't'o''r of tlie City is � �- � j hereby authorized to make on behalf of the City all elections that they 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 Ue "arbitrage bonds" within the meaning of Section � � 148 of the Code and regulations thereunder and will restrict the yield on amounts which are � � � ; Page 12 of 13