31-07 Issue/Sale of notes to pay Sidewalk Program

Home Browse Search

§ I. 148-7, the City will pay the amounts required by Code Section 148(0(2) to the United States at the times required by Code Section I48(~)(3). The City will maintain the books and records and make the calculations and reports that are required to comply with the Code's arbitrage rebate requirements. (d) (~) Federal Guarantee. The City will not permit the use o[ the Project, or make loans of the proceeds of the Notes, or invest the proceeds of the Notes in a manner as to cause the Notes to be "federally guaranteed" within the meaning of Code Section 149(b). Information Reporting. This Council authorizes and directs the Director of Finance or any other official of the City having responsibility for issuing the Notes to sigrt and file a Form 8038-G for the Notes with the Internal Revenue Service. Section 12. Si~nin~ and Dallverv of Notes and Documents. q~nis Council authorizes and directs the Mayor and the Director of Finance to sign and deliver the Notes in accordance with Section 5 of this ordinance~ (a) This Council authorizes and directs the Director of Finance to sign and deliver, on behalf of the City: (1) The Certificate of Award. (2) The Registrar Agreement. (3) Any agreements or letters of representation in connection with a Book-Entry System for the Notes. (4) (5) Applications for and agreements in connection with obtaining a policy of municipal bond insurance for the Notes. Applications for and agreements/n co~mection with obtaining one or more ratings for the Notes. Co) In the absence of the Director of Finance, tiffs Council authorizes and directs the Mayor to sign and dehver any of those documents and certificates This Council authorizes and directs the Director of Finm~ce to sign and deliver, on behalf of the City, in her capacity as fiscal officer of the City, any certificates in accordance with Section 5705.41, Revised Code, required for any of the agreements in connection with the Notes. In the absence of the Director of Finance, this Council authorizes and directs any deputy Director of Finance to sign and deliver those certificates. (c) This Council authorizes and directs the Mayor, the Law Director, the Director of Finance, the Director of Public Works, the President of Connc~l, the Council Clerk, and any other City officials: (1) to sign and deliver any certificates, instrannents, and other documents that the official considers necessary or appropriate in cmmection with the issuance and sale of the Notes, and that are not inconsistent with this ordinance; and (2) to take such actions as are necessary or appropriate to consummate the transactions contemplated by this ordinance. Section 13. Certification to County Auditor. This Council directs the Director of Finance or the Clerk of this Council to forward a certified copy of this offdinance and a copy of the Certificate of Award to the Connty Auditor. Section 14. Definitions. Words and terms are used in this ordinance with the following meanings: