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<br />Revised Code, the tax exemption program under Sections 5709.41 through 5709.44, <br />Revised Code, and any program under the City's Charter. <br /> <br />(b) The City shall use the Service Payments only in accordance with the provisions of <br />Section 2 hereof <br /> <br />(c) The City may refund, advance refund, or otherwise refinance the Bonds, if the maturity <br />or term of the indebtedness evidenced by the Bonds is not extended in that refinancing. <br />If the maturity or term of the indebtedness is extended in the refmancing, the City shall <br />obtain the prior written consent of the School District. <br /> <br />(d) The City may establish Qualified Reserve Funds for the Bonds subject to the following <br />limitations: <br /> <br />(1) The money in any Qualified Reserve Fund may only be used for the purpose for <br />which that Qualified Reserve Fund was established, or paid to the City and the <br />School District in accordance with (4) below. <br /> <br />(2) The annual Reserve Fund Deposit to the Qualified Reserve Fund established as a <br />capital improvements reserve fund for any Public Improvements may not exceed <br />$ , and the total amount of Reserve Fund Deposits paid into that <br />Qualified Reserve Fund over the period that the TIF Exemption is in effect may <br />not exceed $ <br /> <br />(3) If the City requests the School District to approve the establishment of a Qualified <br />Reserve Fund, the City must demonstrate to the School District that the Qualified <br />Reserve Fund is necessary in order for the City to issue the Bonds. The School <br />District Treasurer may approve the establishment on behalf of the School District, <br />which approval may not be unreasonably withheld. <br /> <br />(4) If any Qualified Reserve Fund is no longer required and is released ÍÌom the lien <br />of any indenture under which it is established, the amounts in that Qualified <br />Reserve Fund must be paid to the School District in the proportion calculated in <br />accordance with Section 4(b)(2) above. Any remainder may be paid to the City. <br />If payment to the School District under this provision would, in the opinion of <br />bond counsel to the City, adversely affect the exclusion ÍÌom gross income of <br />interest on any series of the Bonds, the amounts in the Qualified Reserve Fund <br />must be used to redeem or prepay the Bonds, or to pay Debt Service on the <br />Bonds. <br /> <br />(e) The City will pay the School District's legal fees in connection with this Agreement up to <br />a maximum amount of $20,000 and may pay for those legal fees ÍÌom the proceeds ofthe <br />Bonds. <br /> <br />Section 5. Reports. The City shall provide a report to the School District on or before <br />March 1 of each year showing in detail reasonably satisfactory to the School District the <br /> <br />5 <br />