RESOLUTION NO. 10-02
A RESOLUTION AUTHORIZING THE PUBLIC SALE OF NOT TO EXCEED $3,600,000 PRINCIPAL AMOUNT OF LEASE REVENUE BONDS, SERIES 2010, OF THE FRANKLIN COUNTY PUBLIC BUILDING COMMISSION.
BE IT RESOLVED BY THE GOVERNING BODY OF THE FRANKLIN COUNTY PUBLIC BUILDING COMMISSION, AS FOLLOWS:
Section 1. The Lease Revenue Bonds, Series 2010, in the principal amount not to exceed $3,600,000 (the “Bonds”), of the Franklin County Public Building Commission, Franklin County, Kansas (the “PBC”), shall be offered at competitive public sale on April 21, 2011, at 11:00 a.m., Central Time or at such other date approved by the Chairman that is the date of a PBC meeting.
Section 2. The County Administrator of Franklin County, Kansas (the “County Administrator”), is authorized to receive bids for the purchase of the Bonds on behalf of the PBC at the specified time and place and to report on all bids so received to the Governing Body at its meeting to be held on the date of Bond sale, at which meeting the Governing Body shall review the bids and act on the acceptance of the best bid for the Bonds. Such bids may be received electronically through an experienced municipal bond electronic bid provider and through other means determined by the County Administrator, in consultation with the PBC’s Bond Counsel and Financial Advisor, to be in the best interest of the PBC.
Section 3. The Chairman and Secretary are authorized to cause to be prepared and executed an Official Statement for use in connection with the public sale of the Bonds.
Section 4. The Secretary is authorized and directed to give notice of the Bond sale by making copies of the Notice of Bond Sale and Official Statement available to prospective purchasers of the Bonds.
Section 5. For the purpose of enabling the purchaser of the Bonds (the “Original Purchaser”) to comply with the requirements of Rule 15c2-12(b)(1) of the Securities Exchange Commission, the appropriate officers of the PBC are authorized, if requested, to provide the Original Purchaser a letter or certification to the effect that the PBC deems the information contained in the Official Statement as supplemented by an addendum to be “final” as of its date, except for the omission of such information as is permitted by Rule 15c2-12(b)(1), and to take such other actions or execute such other documents as such officers in their reasonable judgment deem necessary to enable the Original Purchaser to comply with the requirement of such Rule.
Section 6. The PBC agrees to provide to the Original Purchaser within seven business days of the date of the sale of the Bonds or within sufficient time to accompany any confirmation that requests payment from any customer of the Original Purchaser, whichever is earlier, sufficient copies of the final Official Statement to enable the Original Purchaser to comply with the requirements of Rule 15c2-12(b)(4) of the Securities and Exchange Commission and with the requirements of Rule G-32 of the Municipal Securities Rulemaking Board.
Section 7. The PBC agrees to enter into a written agreement or contract on or before the date of delivery of the Bonds to provide ongoing disclosure about the PBC for the benefit of the holders of the Bonds as required by Rule 15c2-12(b)(5)(1) of the Securities and Exchange Commission (the “Rule”). The PBC further designates Kutak Rock LLP as an agent of the PBC for the purpose of obtaining and disseminating information in connection with the Rule.
Section 8. The Chairman; Secretary; County Administrator; Kutak Rock LLP, the PBC’s Bond Counsel; Springsted Incorporated, the PBC’s Financial Advisor; and the other officers and representatives of the PBC are authorized and directed to take such other action as may be necessary to carry out the public sale of the Bonds.
Section 9. This Resolution shall be in full force and effect from and after its adoption.
ADOPTED by the Franklin County Public Building Commission on October 28, 2010.
FRANKLIN COUNTY PUBLIC
BUILDING COMMISSION
/s/ David J Hood
Chairman
Attest:
/s/ Shari Perry
Secretary