Agenda - 10-18-2011 - 5j - Laserfiche WebLink

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5 appropriate books and records of the ownership of the Bonds. The County will treat the registered owner of each Bond as the person exclusively entitled to payment of principal, premium, if any, and interest and the exercise of all rights and powers of the owner, except that interest payments will be made to the person shown as owner on the registration books at the close of business on the 15th day (whether or not a business day) of the month preceding each interest payment date. 8. Advertising Bonds for Sale -- The Finance Officer, in collaboration with the LGC, is authorized and directed. to take all proper steps to advertise the Bonds for sale in accordance with customary LGC procedures, including through the use of a "Notice of Sale" document in the LGC's customary form and in substantially the same form as used for prior County bond sales. The Finance Officer is authorized and directed to review and approve a form of Notice of Sale as such officer may determine to be in the County's best interest. 9. LGC To Sell Bonds; Provisions for Delayed Sale - (a) The County asks the LGC to sell the Bonds, to receive and evaluate bids and to award the Bonds on the basis of the best bid received. (b) If market conditions at the time of the proposed sale of the Bonds do not allow the Bonds to be sold at interest rates and prices that make the refunding of all or any portion of the prior bonds economical, as determined by the Finance Officer, the Finance Officer is authorized to decline the sale of the Bonds, in whole or in part. The Finance Officer is further authorized to provide for additional attempts to sell the Bonds, or any portion of the Bonds, if such officer determines that market conditions have changed such that a successful sale of the Bonds (or any portion) may be possible. The Finance Officer may provide for one or more additional sales until January 31, 2012, without further advance approval from the Board. These additional sales may make use of the previously-approved official statement, with the Finance Officer's approval, and may proceed pursuant to such advertisement for sale as the Finance Officer may approve. 10. Completing Official Statement after Sale -- After bids have been received and the LGC has awarded the Bonds to the successful purchaser, the Finance Officer is authorized and directed to prepare, in collaboration with the LGC, a final Official Statement containing, among such other matters as may be appropriate, information required pursuant to Rule 15c2-12 ("Rule 15c2-12") promulgated by the United States Securities and Exchange Commission under the United States Securities Act of 1934, as amended. The County, together with the LGC, will arrange for the delivery within seven business days of the date the Bonds are sold of a reasonable number of copies of the final Official Statement to the successful bidder on the Bonds for delivery to each potential investor requesting a copy of the final Official Statement and to each person to whom such bidder and members of the bidding group initially sell the Bonds. 11. Finance Officer To Complete Bond Closing -After the sale of the Bonds, the Finance Officer and all other County officers and employees are authorized and directed to take all proper steps to have the Bonds prepared and executed in accordance with their terms and to deliver the Bonds to the purchaser upon payment for the Bonds.