Minutes 07/09/1991 - Laserfiche WebLink

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Certificates and the City shall comply with the other covenants and representations contained therein, (ii) that the City shall not file a Form 8038-G for the Bonds with the Internal Revenue Service, and (iii) that the City shall comply with (~) the provisions of the Code, except as provided above, so that interest on the Bonds would beexcludable from gross income for Federal income tax purposes but for the filing of a Form 8038-G for the Bonds with the Internal Revenue Service and (B) the provisions. of the Code so that interest onthe Authority's bonds will remain excludable from gross income for Federal income tax purposes. · 3. All references to "premium" and "premium, if any," in the Bond Resolution-shall hereby be deleted. 4. The election, in the Ordinance adopted June 11, 1991, Ibythe.:City Council, to have the provisions of the Public Finance Actof 1991, Chapter 668, Virginia Acts of Assembly of 1991, apply to the issuance of the Bonds is hereby ratified and approved. 5. As amended and restated by this Resolution, the Bond Resolution is~hereby ratified and confirmed and is in full force and effect. To the extent any provision of the Bond Resolution conflicts with any provision of this Resolution, the provision of this Resolution shall control. 6. This resolution shall take effect immediately. The undersigned Clerk of the City of Martinsville, Virginia, hereby certifies that the foregoing constitutes a true and correct extract from theminutesof a regular meeting of the City Council held the 9th day of July, 1991, and of the whole thereof so far as applicablelto the matters referred to in such extract. WITNESSmy signature and the sealof the City of Martinsville, Virginia, this 9th day of July, 1991. (sEAL) ' Clerk of the City of Martinsville, Virginia -3-