HomeMy WebLinkAboutRESOLUTION 1984-122-~
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CI1Y OF KENAI
RESOLUTION N0. 84-122
A RESOLUTION OF THE COUNCIL OF THE CITY OF KENAI, ALASKA
AUTHORIZING THE ISSUANCE AND EXECUTION OF A LOAN AGREEMENT WITH
THE ALASKA MUNICIPAL BOND BANK AND 1HE ISSUANCE OF A FULLY
REGISTERED BOND 10 THE ALASKA MUNICIPAL BOND BANK.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA, AS
FOLLOWS:
Section 1: Pursuant to Section 18 of Ordinance No.
972-8 ,~ City hereby determines to sell and issue its City of
Kenai 1984 Series A General Gbligation Bonds (herein referred to
as the "Bonds") to the Alaska Municipal Bond Bank (the "Bank") on
the terms and conditions fixed in the Loan Agreement hereinafter
mentioned in Section 2, and said Loan Agreement is hereby
approved in substantially the form presented.
Section 2: The Mayor is hereby authorized to execute and
~ cause to~~livered on behalf of the City the Loan Agreement
{ with the Bank i.~ the form attached to this resolution and the
Mayor, Manager, Finance Director and City Clerk are hereby
authorized to do any and all things necessary to carry out the
obligations of the City pursuant to Ordinance No. 972-84 and the
loan Agreement.
Section 3: Pursuant to Section 18 of Ordinance No. 972-84,
one fu leg stered bond in substantially the form prescribed in
Ordinance No. 972-84 shall be issued and sold to the Bank.
Section 4: Pursuant to Section 6 of Ordinance No. 972-84,
one fully registered bond shall bear interest from its date, and
shall be dated as of October 1, 1984. The bond shall bear
interest at the rates per annum determined pursuant to the 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 19th day
of September, 1984.
om Wagoner, r
ATTE5T:
6 ~~ .~-,~
et a an, City Clerk
Approved by Finance: C~