THE LAKEWOOD CITY COUNCIL CHAMBERS OCTOBER 18 2010 ...

or give reports covenants and certificafions of and on behalf ofthe City as may be appropriate to
assure the exclusion of interestfrom gross income and the intended tax status ofthe Bonds and c
to give one ormore appropriate certificates ofthe City for inclusion in the transcript ofproceedings
forthe Bonds setting forth the reasonable expectations ofthe City regarding the amount and useof
all the proceeds ofthe Bonds the facts circumstances and estimates onwhich they are based and
other facts and circumstances relevant tothe tax treatment oftheinterest on and the tax status ofthe
Bonds
To the extent permitted by law and a determination it is in the best interests ofthe City
the Director of Finance is authorized to designate the Bonds as qualified tax exempt
obligations for purposes ofSection265 b3 ofthe Code
Section 9 Official Statement and Continuing Disclosure
a Primary Offering Disclosure Offcial Statement The Preliminary Official
Statement ofthe City relating to the original issuance ofthe Bonds substantially in the form now on
file with the Clerk of Council is approved The distribution and use ofthe Preliminary Official
Statement is hereby approved The Mayor and the Director of Finance are each authorized and
directed to complete the Preliminary Official Statement with such modifications completions
changes and supplements as those officers shall approve or authorize for the purpose ofpreparing
ahd determining and to certify or otherwise represent that the revised Preliminary Official
Statement is a deemed final official statement except for permitted omissions by the City as of
its date for purposes ofthe Rule
Those officers are each further authorized and directed to complete and sign
on behalfofthe
City and in their official capacities a fmal official statement for purposes of the Rule and are
further authorized to use and distribute or authorize the use and distribution of that fmal official
statement and supplements thereto in connection with the original issuance ofthe Bonds as may in
theirjudgment benecessary or appropriate Those officers and each ofthem are also authorized to
sign and deliver onbehalf ofthe City and in their official capacities such certificates in connecfion
with the accuracy of the Preliminary Official Statement and the fmal official statement and any
amendment thereto as may in theirjudgment be necessary or appropriate
b Applicationfor Rating or Bond Insurance If in the judgment ofthe Director of
Finance the filing of an application for i a rating on the Bonds by
one or more
nationally recognized rating agencies oriia policy ofinsurance from acompany or companies to
better assure the payment of principal of and interest on the Bonds is in the best interest of and
financially advantageous to this City the Director ofFinance is authorized to prepare and submit
those applications to provide to each such agency or company such information as may be required
for the purpose and to provide further for the payment of the cost ofobtaining each such rating or
policy excepttothe extent otherwise paid in accordance with the Bond Purchase Agreement from
the proceeds of the Bonds to the extent available and otherwise from any other funds lawfully
available and that are appropriated or shall be appropriated for that purpose To the extent the
Director ofFinance has taken such actions those actions arehereby ratified and confirmed
13