|
<br />'-/
<br />
<br />actions as are necessary or appropriate to consummate the transactions
<br />contemplated by this ordinance" The Director of Law shall obtain the services
<br />of qualified Bond Counsel, and his selection of Calfee, Halter & Griswold, Bond
<br />Attorneys, Cleveland, Ohio, as Bond Counsel for the Bonds is hereby confirmed,
<br />approved and ratified. The Fiscal Officer shall cause the Bonds to be prepared,
<br />and have the Bonds signed and delivered, together with a true transcript of
<br />proceedings with ref.§Ĺ’ence to the issuance of the Bonds, to the Original
<br />Purchaser upon payment of the pU1:'chase price. The proceeds from the sale of said
<br />Bonds, except the accrued interest thereon, shall be paid into the proper fund
<br />and used for the purpose for which the Bonds are being issued under the
<br />provisions of this ordinance and may be used to pay those certain costs of
<br />issuance set forth in Section l33.15(B), Ohio Revised Code; any such costs also
<br />may be paid out of any other lawfully available moneys of the City and any such
<br />costs which are future financing costs may be paid from the same sources from
<br />which the principal of and interest on the Bonds are paid. The accrued interest
<br />shall be paid into the Bond Retirement Fund to be applied to the payment of the
<br />principal and interest of the Bonds in the manner provided by law.
<br />
<br />The preliminary official statement of the City relating to the
<br />original issuance of the Bonds, substantially in the form now on file with the
<br />Fiscal Officer, is approved and its distribution is authorized The Mayor and
<br />Fiscal Officer, and any one of them, are authorized and directed to complete and
<br />sign, on behalf of the City arid in their official' capacities, an official
<br />statement, with such modifications, changes and supplements from the preliminary
<br />official statement as those officers or anyone of them shall approve or
<br />authorize. Those officers are authorized, on behalf of the City and in their
<br />official ca~acities, to (i) determine, and to certifY,or otherwise represent,
<br />when the official statement is "deemed finaltl(except for permitted omissions)
<br />by the City as of its date or is a final official statement for purposes of SEC
<br />Rule lSc2-l2(b)(l), (3) and (4), (ii) use and distribute,or authorize the use
<br />arid distribution of, those official statements and any supplements thereto in
<br />connection with the original issuance of the Bonds, and CUi) complete and sign
<br />those official statements as so _approved together with such certificates,
<br />statements or other documents in connection with the finality, accuracy and
<br />completeness of those official statements
<br />
<br />SECTION 6. The Fiscal-Officer shall appoint a bank or trust company
<br />to act as the authenticating agent, bond registrar, transfer agent and_ paying
<br />agent for the Bonds (the "Registrarfl). The Fiscal Officer sh.a,ll sign and
<br />deliver, in the name and on behalf of the City, the Bond Registrar Agreemerit
<br />between the City and the Registrar (the "Agreement") in substantially the form
<br />now on file with tbe Fiscal Officer. That Agreement is approved, together with
<br />any changes or amendments that are not inconsistent with this ordinance and not
<br />substantially adverse to the City and that are approved by the Fiscal Officer on
<br />behalf of the City, all of which shall be conclusively_evidenced by the signing
<br />of the Agreement or amendments to the Agreement. The Fiscal Officer shall
<br />provide for the payment of the services rendered and for reimbursement of
<br />expenses incurred pursuant, to the Agreement from the proceeds of the Bonds to the
<br />extent available and then from other moneys lawfully available and appropriated
<br />or to be appropriated for that purpose.
<br />
<br />SECTION 7 For the purpose of providing the necessary funds to pay
<br />the interest on the foregoing issue of Bonds promptly when and as the Same falls
<br />due, arid also to provide a fund sufficient to pay the principal of the Bonds when
<br />due, there shall be and is hereby levied on all taxable property in the City, in
<br />addition to all other taxes, a direct tax annually during the period said Bonds
<br />are to run in an amount sufficient to provide funds to pay the interest upon said
<br />Bonds as and when the same fall due, and also to provide a fund for the payment
<br />of the principal of the Bonds when due, which tax shall not be less than the
<br />interest and sinking fund tax required by Section 11 of Article XII of the
<br />Constitution of Ohio.
<br />
<br />SECTION 8 Said tax shall be and is hereby ordered computed,
<br />certified, levied and extended upon the tax duplicate and collected by the same
<br />officers, in the same m~nner and at the same time that taxes for general purposes
<br />
<br />-4-
<br />
|