2010-06-07_(2).pdf - 19318.8K - BridgeportCT.gov

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Report ofCommittee on Budget and Appropriations
64 09
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RESOLVED that the City Council hereby authorizes the Officials
to determine
the date maturity prices interest rates form manner of sale whether by negotiation or
public sale
any reserve that might be established as authorized herein and whether any of the
Refunding Bonds issued will be issued as taxable bonds all in such a manner as such
Officials shall determine to be in the best interest ofthe City and to take such actions and
or other terms and conditions of the Refunding Bonds including the terms of
to execute such documents or to designate other officials or employees of the City to
take such actions and to execute such documents as deemed to be necessary or advisable
and in the best interests ofthe City by such Officials in order to issue sell and deliver the
Refunding Bonds and be it further
RESOLVED that the City Council hereby authoriz s the Officials to call
irrevocably for redemption such of the callable maturities of the Prior Bonds as they
shall determine to refund from the proceeds ofthe Refunding Bonds and other moneys as
they may determine to make available for this purpose and to defease such Prior Bonds
by executing and delivering an escrow agreement
in such form and upon such terms as
they shall approve
such to
approval
be conclusively evidenced by their execution
thereof The Officials are hereby authorized on behalf of the to
City make
representations or agreements for the benefit of the holders of the Refunding Bonds
which are necessary or appropriate to ensure the exemption of interest on the Refunding
Bonds from taxation under the Internal Revenue Code of 1986 as amended their
respective approvals to be conclusively evidenced by their signatures on any such
agreements or representations relating thereto and be it further
RESOLVED that the City Council hereby authorizes the Officials in connection
with the issuance of the Refunding Bonds to execute and deliver on behalf of the City
such reimbursement agreements remarketing agreements standby bond purchase
agreements interest rate swap agreements and any other appropriate agreements the
Officials deem necessary appropriate or desirable to the restructuring of the City s debt
of which the Refunding Bonds are a component and the Officials are hereby authorized
on behalf of the City to secure the payment of such agreements with the full faith and
credit of the City ifthey deem it necessary appropriate or desirable and be it further