Title
A RESOLUTION TO AUTHORIZE, AND PROVIDE FOR THE PAYMENT, OF GENERAL OBLIGATION WARRANTS (FEDERALLY TAXABLE), SERIES 2021-B
Body
BE IT RESOLVED BY THE CITY COUNCIL OF HE CITY OF FOLEY, ALABAMA as follows:
Section 1. Definitions of Terms
For purposes hereof:
City City of Foley, Alabama
Council President President of the governing body of the City
Indenture (1) Indenture dated January 1, 2021, as supplemented by Series 2021-B Supplemental Indenture dated July 1, 2021, by the City and the Paying Agent
(2) Indenture dated July 1, 2021 by the City and the Paying Agent
Mayor Mayor of the City
Official Statement Official Statement dated July 14, 2021 of the City with respect to the Warrants
Paying Agent Regions Bank
Transaction Documents The documents referenced in Section 2(b)
Underwriter Stifel, Nicolaus & Company, Incorporated
Warrants General Obligation Warrants (Federally Taxable), Series 2021-B
Section 2. Authorization of Transactions and Documents
The City does hereby approve, adopt, authorize, direct, ratify and confirm:
(a) the issuance and sale of the Warrants to provide for (i) the refunding of outstanding long-term indebtedness of the City and (iii) payment of the costs of issuance of the Warrants;
(b) the representations of fact and covenants and agreements made by the City in, the terms and provisions of, and the transactions to be undertaken pursuant to, the following documents, in substantially the form and content as presented to the City (collectively, the “Transaction Documents”):
(1) the Indenture;
(2) the Refunding Trust Agreement dated July 1, 2021 by the City and Regions Bank, as trustee, with respect to the Refunded Series 2014 Warrants referenced therein;
(3) the Refunding Trust Agreement dated July 1, 2021 by the City and Regions Bank, as trustee, with respect to the Refunded A&S Bonds referenced therein;
(4) the Continuing Disclosure and Dis...
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