HomeMy WebLinkAboutRESOLUTION 1980-125~
^
- ~<Ti
`- - - ._'"_ - - - - - - - -
' ~ A., •-
CITY OF KENAI
ALASKA
RESOLUTION NO. 80- 12~
A RESOLUTION AUTHORIZING THE ISSUANCE AND
EXECi1TiON OF A L~AN AGREEMENT WITH THE
ALASKA MUNICIPAL BOND BANK ANV THE ISSU-
ANCE OF A FULLY REGISTE4ED BO[VD TO THE
ALASKA MUNICIPAL BOND BANK.
BE I i RESOLVED BY THE COUNCIL OF THE CITY OF KENAt,
ALASKA, AS FOLLOWS:
Sectian i. Pursuant ta Section 21 of Ordinance No. 582-80,
the City hereby determines to seit and issue its City of Kenai General
Obligation Bonds, 1980 (heretn ref~rred to as the "Bonds") to the
Alaska Munlcipal Bond Bank (the "Bank") on the terms and conditions
fixed in the Loan Agreement hereinafter menlianed in Section 2. ~
' Section 2. The Mayor is h~re5y authorized to execute and
cause to be deiivered on behalf of the City the Loan Agreement with
the Bank in the farm attached to xhis Resolution and the Mayor, City
. Manager, Ftnance Dlrecior and City Clerk are hereby auihorized to do
any and all things necessary to carry out the obiigations of the City
pursuant to Ordinance No. 582-80 and the Loan Agreement. ~
Section 3. Pursuant to Seciion 21 of Ordinance No. 582-80,
one fully registereci bond in substantial(y the form prescrtbed in Ordi- '
nance No. 582-80 shal! be issued to the Bank.
Section 4. Pursuant to Section 5 of Ordinance No. 582-80,
the fully registered bond shall bear interest from its date. The bond
shall bear Interest at the raies per annum specified pursuant to the
!, .
"~`'' _ - i-= .~ _ ~ ~ ..,- _ = -- - - = r~r~.y..~--_.-~....~. - - - -
.~ - _ ~- ~
~ ~ ~ ~
~ . '
~~ ^ 1
CITY OF KENAi page 2
RESOLUTION NO. 80-~~5
~ -
Loan Agreement and shall be sold at a price equal to par plus accrued
interest to the date of delivery thereof.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA,
this 16th day of July, 1980.
. ~ ~/
VINCENT' O'REILLY, M
ATT ES i:
r~
ET WHELAN, City Clerk
~