Reso 2010-1538-1 - Laserfiche WebLink

Home Browse Search

. CERTIFICATE OF PURCHASER . The undersigned, on behalf of the Purchaser, SUNTRUST BANK (the "Purchaser"), hereby certifies and acknowledges in connection with the purchase by it of the $15,000,000 Capital Improvement Revenue Bonds, Series 2010 (the "Bonds") of the City of Sunny Isles Beach, Florida (the "City") that: . 1. The Purchaser has received executed copies of Ordinance No. 2010-343 adopted by the City Commission of the City of Sunny Isles Beach, Florida (the "City") on March 18, 2010 and Resolution No. 2010-1538 adopted by the City Commission on March 18, 2010 (collectively, the "Bond Ordinance") and the Loan Agreement, dated as of March 24, 2010 (the "Loan Agreement"), between the City and the Purchaser, and said Bond Ordinance and Loan Agreement are in form and substance satisfactory to the Purchaser. . I I I '. I I . 2. The Purchaser has conducted its own investigations, to the extent it deems satisfactory or sufficient, into matters relating to the business, properties, management, and financial position and results of operations of the City in connection with the issuance by the City of the Bonds and the execution and delivery of the Loan Agreement; it has received such information concerning the City as it deems to be necessary in connection with investment in the Bonds; and during the course of this transaction and prior to the purchase of the Bonds it has been provided with the opportunity to ask questions of and receive answers from the City concerning the terms and conditions of the offering of the Bonds, and to obtain any additional information needed in order to verify the accuracy of the information obtained. I I I) I 3. The Purchaser has sufficient knowledge and experience in financial and business matters, including purchase and ownership of municipal and other tax-exempt obligations, to be able to evaluate the risks and merits of the investment represented by the purchase of the above- stated principal amount of the Bonds. 4. The Purchaser is aware that certain economic variables could affect the security of its investment in the Bonds and the Purchaser is able to bear the economic risks of such investment. t) 5. The Purchaser is aware of the terms of the Loan Agreement, including the facts that (i) the Bonds do not represent an obligation of any entity other than the City, (ii) the Bonds are not general obligations of the City, (iii) the City is not obligated to repay the Bonds from ad valorem taxes or any other moneys of the City except as provided in the Loan Agreement and Bonds and (iv) no covenant, stipulation, obligation or agreement contained in any documents related to the issuance of the Bonds is or shall be deemed to be a covenant, agreement or obligation of any present or future board member, officer or employee of the City in his or her individual capacity. . I . I 6. The Purchaser acknowledges that the Bonds have not been and will not be registered under the Securities Act of 1933, as amended, or the securities or Blue Sky laws of any state and is not listed on any stock or securities exchange. {MI886561_2} .