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<br />Notes to be prepared and shall have the Notes signed and delivered, together with a true
<br />transcript of proceedings with reference to the issuance of the Notes, to the original purchaser
<br />thereof upon payment of the purchase price. The proceeds :from the sale of the Notes, except the
<br />accrued interest thereon, shall be paid into the proper fund and used for the purpose for which the
<br />Notes are being issued under the provisions of this Ordinance. The proceeds of the Notes also
<br />may be Used to pay, and are hereby appropriated to pay, those certain costs of issuance set forth
<br />in Section 133,15(B) of the Ohio revised Code, Any of such costs also may be paid out of any
<br />other lawfi.ùly available moneys of the City, which monies are hereby appropriated for such
<br />purpose. Any of such costs may be paid from the same sources ftom which the principal of and
<br />interest on the Notes are paid, which monies are hereby appropriated for such purpose. Any
<br />accrued interest shall be paid into the Bond Retirement Fund, t;<:> be applied to the payment of the
<br />principal and interest on the Notes in the manner provided by law
<br />
<br />A preliminary official statement of the City relating to the original Issuance of the
<br />Notes is authorized to be distributed, The Mayor and Fiscal Officer, and anyone of them, are
<br />authorized and directed to complete and sign, on behalf of the City and in their official
<br />capacities, an official statement, with such modifications, changes and supplements from the
<br />preliminary official statement as those officers or anyone of them shalI approve or authorize.
<br />Those officers are authorized, on behalf of the City and in their official capacities, to
<br />(i) detennine, and to certify or otherwise represent, when the official statement is "deemed final"
<br />(except for permitted omissions) by the City as of its date or is a final official statement for
<br />purposes of SEC Rule 15c2-12(b)(1), (3) and (4), (ii) use and distribute, or authorize the use and
<br />distribution of, those official statements and any supplements thereto in connection with the
<br />original issuance of the Notes, and (üi) complete and sign those official statements as so
<br />approved together with such certificates, statements or other documents in connection with the
<br />finality, accuracy and completeness of those official statements.
<br />
<br />Section 6. The City covenants that it will restrict the use of the proceeds of the
<br />Notes. in such marmer and to such extent, if any, as may be necessary so that the Notes will not
<br />constitute arbitrage bonds under Section 148 of the Internal Revenue Code of 1986, as amended
<br />(the "Code"). The Director of Finance of the City, as the fiscal officer, or any other officer of the
<br />City, including the Clerk, having responsibility for the issuance of the Notes shall give an
<br />appropriate certificate of the City, for inclusion in the transcript of proceedings for the Notes,
<br />setting forth the reasonable expectations of the City regarding the amount and use of all the
<br />proceeds of the Notes, the facts, circumstances, and estimates on which they are based, and other
<br />facts and circumstances relevant to the tax treatment of interest on the Notes"
<br />
<br />The City covenants that (a) it will take or cause to be taken such actions which
<br />may be required of it for the interest on the Notes to be and remain excluded from gross income
<br />for federal income tax purposes, and (b)it will not take orpennit to be taken any actions which
<br />would adversely affect that exclusion, and that it, or persons acting for it, will, among other acts
<br />of compliance, (i) apply thé proceeds of the Notes to the govenunental purpose of the borrowing,
<br />(ii) restrict the yield on investment property acquired _with those proceeds, (üi) make timely
<br />rebate payments to the federal government, (iv) maintain books and records and make
<br />calculations and reports, and (v) refrain from certain uses of proceeds, all in such manner and to
<br />the extent necessary to as_sure such exclusion of that interest under the Code. The Director of
<br />Finance and other appropriate officers of the City are hereby authorized and directed to take any
<br />and all actions, make calculations and rebate payments, and take or give reports and
<br />certifications as may be apprQprÎate to assure such exclusion of that interest.
<br />
<br />Section 7. The Notes shall be full general obligations of the City and the full faith
<br />and credit of the City are hereby pledged for thé prompt payment of the same.. The par value to
<br />be received :from the sale of the bonds anticipated by the Notes and any excess funds resulting
<br />from the îssuance of the Notes shall, to the extent necessary, be used only for the retirement of
<br />the Notes at maturity, together with the interest thereon, and is hereby pledged for such purpose.
<br />
<br />Section 8. During the years that the Notes are outstanding, there shall be levied
<br />on all the taxable property in the City, in addition to all other taxes, a direct tax annually at the
<br />rate not less than that which would have been levied if bonds had been issued without the prior
<br />issuance of the Notes This tax shall be and is hereby ordered computed, certified, levied and
<br />extended upon the tax duplicate and collected by the same officers, in the s~e manner and at
<br />the same time that taxes for general purposes of each of said years are certified, extended or
<br />collected.. In addition, this tax shall be placed before and in preference to all items and for the
<br />
<br />{2006 BANS.DOC;l}
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