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RESOLUTION NO. 92-06 A RESOLUTION OF THE CITY OF MOSCOW, IDAHO, A PPROVING, PURSUANT TO SECTION 50-901A, IDAHO CODE, A SUMMARY OF ORDINANCE NO. 92-08 FOR PUBLICATION WHEREAS, the City of Moscow, Latah County, Idaho (the "City"), on May 4, 1992, adopted Ordinance No. 92-08, authorizing the issuance and sale of general obligation bonds in the principal amount of $898,000; and WHEREAS, the Code, to publish, thereof. City is authorized, by Section 50-901A, Idaho in lieu of the entire ordinance, a summary NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MOSCOW, IDAHO, as follows: Section 1: That the summary of Ordinance No. 92-08, adopted by the Moscow City Council on May 4, 1992, a copy of which summary is annexed hereto as Exhibit be, and the same is hereby, approved. Section This Resolution shall take effect and be in force from and after its passage and approval. DATED this 4th day of May, 1992. ATTEST: ,l ldaeud- City' Clerk (S E A L ) CITY OF MOSCOW Latah County, Idaho Mayo ---PAGE BREAK--- SUMMARY OF ORDINANCE NO. 92-08 AN ORDINANCE OF THE CITY OF MOSCOW, LATAH COUNTY, IDAHO, AUTHORIZING THE ISSUANCE AND SALE OF GENERAL OBLIGATION BONDS, SERIES 1992, IN THE PRINCIPAL AMOUNT OF $898,000; PROVIDING FOR THE DESIGNATION, PURPOSE, DATE, MATURITIES, EXECUTION, REGISTRATION, AND REDEMPTION OF THE BONDS; PROVIDING FOR THE SALE OF THE BONDS; PROVIDING FOR THE PAYMENT OF PRINCIPAL OF AND INTEREST ON THE BONDS BY THE ANNUAL LEVY OF TAXES; CREATING CERTAIN FUNDS AND ACCOUNTS; AND PROVIDING CERTAIN COVENANTS WITH THE OWNERS OF THE BONDS A summary of the principal provisions of the City of Moscow, Latah County, Idaho, is as follows: Section 1: Authorizes the issuance General Obligation Bonds, series 1992" aggregate principal amount of $898,000. of Ordinance No. 92-08, adopted on May 4, 1992, of the "City of Moscow {the "Bonds"), in the Section 2: Describes the purpose of the Bonds, consisting generally of payment of the cost of acquisition of fire trucks and other fire fighting apparatus and equipment and costs and fees incident thereto. Section 3: Describes the Bonds and sets forth a schedule of maturities of the principal amount of the Bonds. Section 4: Provides for payment of interest on the Bonds and establishes the maximum rate of interest thereon. Section 5: Provides for the place and manner of payment of the Bonds. Section 6: Provides for the manner of execution and authen tication of the Bonds. Section 7: Appoints the Corporate Trust Department of West One Bank, Idaho, N.A. , Boise, Idaho, as Bond Registrar, and provides for the system of registration of the Bonds. Section 8: Provides for redemption of the Bonds. Section 9: Provides for the public sale of the Bonds on June 1, 1992. Section 10: Approves a Notice of Sale of the Bonds and provides for publication thereof. Page 1 - EXHIBIT ---PAGE BREAK--- section 11: Establishes the "City of Moscow Capital Improvement Fund. " Section 12: Provides for the levy of taxes for payment of the Bonds. section 13: Establishes the "City of Moscow General Obligation Bonds, Series 1992, Bond Fund. " section 1 4: Provides for the method of replacing lost, stolen, mutilated, or destroyed Bonds. Section 15: Provides for defeasance of the Bonds. section 16: Provides certain special covenants of the City with respect to the tax-exempt status of the Bonds. Section 17: Authorizes the City's financial advisor, West One Bank, Idaho, N. A. , to submit a bid for the Bonds. section 18: Provides for ratification. Section 19: Authorizes the Mayor, City Clerk, and City Treasurer to execute such additional documents as may be required for the sale and delivery of the Bonds. section 20: Provides for severability. Section 21: Repeals conflicting ordinances. section 22: Provides for effective date. The full text of Ordinance No. 92-08 is available at city Hall and will be provided to any person upon personal request during normal office hours. DATED this 4th day of May, 1992. ATTEST: 'dJ?a City Clerk Page 2 - EXHIBIT CITY OF MOSCOW Latah County, Idaho ---PAGE BREAK--- CERTIFICATION OF CITY ATTORNEY I, the undersigned city Attorney for and legal advisor to the City of Moscow, Latah County, Idaho, hereby certify that I have read the attached summary of Ordinance No. 92-08 of the city of Moscow and that the same is true and complete and provides adequate notice to the public of the contents of said ordinance. Dated this day of May, 1992. Page 3 - EXHIBIT