Title
A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF GENERAL OBLIGATION WARRANTS (FEDERALLY TAXABLE), SERIES 2021-A, AND THE EXECUTION AND DELIVERY OF RELATED TRANSACTION DOCUMENTS
Body
BE IT RESOLVED BY THE CITY COUNCIL OF HE CITY OF FOLEY, ALABAMA as follows:
Section 1. Definitions
City: City of Foley, Alabama
Council President: President of the governing body of the City
Indenture: Indenture dated January 1, 2021, as supplemented by Series 2021-A Supplemental Indenture dated March 1, 2021, by the City and the Paying Agent
Mayor: Mayor of the City
Official Statement: Official Statement dated February 10, 2021 of the City with respect to the Warrants
Paying Agent: Regions Bank
Transaction Documents: The documents referenced in Section 2(b)
Underwriter: The Frazer Lanier Company, Incorporated
Warrants: General Obligation Warrants (Federally Taxable), Series 2021-A
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 March 1, 2021 by the City and Regions Bank, as trustee;
(3) the Continuing Disclosure and Dissemination Agent Agreement dated the date of delivery by the City and Digital Assurance Certification, L.L.C.;
(4) the Purchase Agreement dated February 9, 2021 by the City and the Underwriter;
(5) any agreement, contract, document, instrument, notice or other proceeding determined by the City to be necessary, desirable or required by appl...
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