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<br />Issuer shall, issue, sell and deliver, as provided and authorized herein, the Series 2006 Bonds in
<br />the aggregate principal amount of uot to exceed $16,500,000, as shaH be deterullned by the
<br />Fiscal Officer in the Certificate of Award, pursuant to the authority of Article XVll] of the Ohio
<br />Constitution, the Charter of the Issuer and this Series 2006 Bond Legislation, and under and in
<br />accordance with the Trost Ag"eement, as supplemented by the First Supplemeutal Indeuture
<br />authorized herein, for the following pmposes: (i) paying the Cost of certain Improvements
<br />constituting the Project, including, without limitation, improvements to the City's wastewater
<br />treatment plant and improvement and reconstruction of the City's sewer lines in various streets
<br />within the City , together with the necessary appurtenances and work incidental thereto, which
<br />will be doue during 2006 and thereafter, if necessary, (ii) funding the Bond Reserve Requirement
<br />with a surety bond in lieu of cash on deposit in the Bond Reserve Fund; (iii) refunding the
<br />portion ($3,600,000) of the Series 2006 B Notes related to the improvement of the City's sewer
<br />system and wastewater treatment plant; and (iv) pay Financing Costs related to the issuance and
<br />sale of the Series 2006 Bonds, including, without limitation, the premiums for a municipal bond
<br />insurance policy and a surety bond for the Series 2006 Bouds.
<br />Section 3. Terms and Provisions of the Series 2006 Bonds.
<br />(a) Generallv. The Series 2006 Bouds (i) shall be designated "Sewer System
<br />Revenue Bonds, Series 2006"; (ii) shall be issued (a) in the aggregate principal amount as
<br />detennined by the Fiscal Officer in her Certificate of Award and (b) unless a Supplemeutal
<br />Indenture shall have beeu executed and delivered pursuant to Section 1101 of the Trost
<br />Agreement, only in fully registered fonn substantially as set forth in the First Supplemental
<br />Indenture; (iii) shall be exchangeable for other Series 2006 Bouds in the manner and on the terms
<br />provided in the ]ndenture; (iv) shall be subject to optional redemption and mandatory redemptiou
<br />pursuant to Sinking Fund Requirements, each as described below; and (v) shall be numbered, as
<br />determined by the Fiscal Officer, ill such manner as to distinguish each Series 2006 Bond from
<br />any other Series 2006 Bond
<br />(b) Denomination and Dates. The Series 2006 Bonds shall be in the
<br />denominatious of $5,000, and any iutegral mnltiple thereof, but not to exceed the principal
<br />amount of the Series 2006 Bonds maturiug on any oue date, and shall be dated as of the date
<br />determined by the Fiscal Officer and specified in the Certificate of Award, provided such date
<br />shall not be earlier than June 1, 2006 nor later than October 1,2006. Each Series 2006 Bond
<br />shall have only one principal maturity date, except for interim certificates or receipts, if any,
<br />issued pending preparation of definitive Series 2006 Bonds
<br />(c) Interest and Place ofpayment. The Series 2006 Bauds shall bear interest,
<br />computed on the basis of a 360-day year composed of twelve 30-day months, from theIDost
<br />recent date to which interest has been paid or duly provided for or, if no interest has been paid or
<br />dnly provided for, from their date. Interest on the Series 2006 Bonds shall be payable semi-
<br />annually on the Interest Payment Dates at their respective Specified Interest Rates,
<br />The principal of and any premium on the Series 2006 Bonds shall be payable at
<br />the principal corporate trust office of the Trustee as provided in Section 201 of the Trust
<br />Agreement, and interest on the Series 2006 Bonds shall be payable as provided in Sectiou 201 of
<br />the Trust Agreement, in each instance without deduction for the services of any Paying Agent.
<br />(d) Princiual Maturities of the Series 2006 Bouds. The Series 2006 Bonds
<br />shall mature on the Principal Payment Dates, in accordance with the Principal Retirement
<br />Schedule (subject to mandatory and optional redemption as described below); provided that uo
<br />Series 2006 Bond sbull mature later than Jnly ], 2046
<br />(e) Use ofBook-entrv Svstem. The Series 2006 Bonds shall original]ybe
<br />issued solely in Book-eutry fonn to a Depository to be held in a Book-entry system in
<br />accordance with this Series 2006 Bond Legislation. The Fiscal Officer is hereby authorized and
<br />directed to engage the services of The Depository Trust Company ("DTC") in counectiou with
<br />depository services for Series 2006 Bauds, including holding the Series 2006 Bauds in
<br />Book-entry form, and to enter into any agreements determined necessary or appropriate in
<br />connection with such engagement or the registration, authentication, immobilization, and transfer
<br />of Series 2006 Bonds, including arrangemeuts for the payment of principal, premium, if any, and
<br />interest by wire transfer, after detenniuing that the executiou thereof will not endanger the funds
<br />or securities of the Issuer, which determination shall be conclusively evidenced by the signing of
<br />any such agreement
<br />If and as long as a Book-entry system is utilized, (i) the Series 2006 Bonds shall
<br />be issued in the fonn of one fully registered Series 2006 Bond for each maturity registered in the
<br />name of the Depository or its nominee, as registered owner, and immobilized in the custody of
<br />the Depository; (ii) (a) the principal of and any premium au the Series 2006 Bonds shall be
<br />payable in next day or federal funds delivered or transmitted to the Depository or its nominee
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