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this Ordinance The Fiscal Officer shall cause the Notes to be prepared and shall have the Notes
<br />signed and delivered, together with a tree transcript of proceedings with reference to the issuance
<br />of the Notes, to the original purchaser thereof upon payment of tile purchase price The proceeds
<br />from the sale of the Notes, except the accrued interest thereon, shall b~ paid into the proper fund
<br />and used for the purpose for which the Notes are being issued under the provisions of this
<br />Ordinance The proceeds of the Notes also may be used to pay, and are hereby appropriated to
<br />pay, those certain costs of issuance set forth in Section 133 15(B) of the Ohio Revised Code,
<br />Any of such costs also may be paid out of any other lawfully available moneys of the City,
<br />which tootles are hereby appropriated for such purpose Any of such costs may be paid fi'om the
<br />same sources from which the principal of aa~d interest on the Notes are paid, which monies are
<br />hereby appropriated for such purpose Any accrued Interest shall be paid into the Bond
<br />Retirement Fund, to be applied to the pa/anent of the principal and interest on the Notes in the
<br />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 any o~e 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 any one of them shall approve or authorize.
<br />Those officers are authorized, on behalf of the City and in their official capacities, to
<br />(i) determine, and to certify or otherwise represent, when the official statement is "deemed final"
<br />(except for pemfitted 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 dist~Sbute, or anthorize the use and
<br />distribution of, those official statements and any supplements thereto in connection with the
<br />original issuance of the Notes, and (iii)complete and sign those official statements as so
<br />approved together with such certificates, statements or other documents in connection with the
<br />finahty, accuracy and completeness of those official statements
<br />
<br /> Section 6 The Notes shall be full general obligations of the City and the full fallh
<br />and credit of the City are hereby pledged for the prompt payment of the sza~ae 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 issuance 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 pm'pose
<br />
<br /> Section 7~ During the years that the Notes are outstanding, there shall be levied
<br />on all the taxable property in the City~ in add/t/on 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 same 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 ali items and for the
<br />full amount thereof The fm~ds derived from the tax levies hereby required shall be placed in a
<br />separate and distinct fund which, together with the interest collected on the same, shall be
<br />irrevocably pledged for the payment of the principal of and interest on the Notes or the bonds in
<br />anticipation of which they are issued, when and as the same fall due; provided, however, that in
<br />each year to the extent that revenues are available from other sources for the payment of the
<br />Notes and bonds and are appropriated for such purpose, the amount of such dLi-ect tax upon all of
<br />the taxable property in the City shall be reduced by the amount of the revenues so available and
<br />appropriated. So long as the Notes are outstanding, the City hereby covenants to appropriate
<br />annually, to the extent required, sufficient amounts from moneys in the Sloane Avenue Public
<br />Improvement Tax Increment Equivalent Fund to pay principal and interest on the Notes when the
<br />same fall due
<br />
<br /> Section 8 The Fiscal Officer is authorized and directed to execute a continuing
<br />disclosure certificate (the "Disclosure Certificate") setting forth the City's undertaking to provide
<br />annual reports and notices of certain events dated the date of delivery of the Notes and delivered
<br />to the original purchaser of the Notes for the benefit of the holdeis of the Notes (the
<br />"Noteholders") and to assist the original purchaser in complying with SE C Rule i5c2-12(b)(5)
<br />The City hereby covenants and agrees that it wi]I comply with and carry out all of the provisions
<br />of the Disclosure Certificate. Failure of the City to comply with the Disclosure Certificate shall
<br />not be considered an event of default; however, any Noteholder may take such actions as may be
<br />necessary and appropriate to cause the City to comply with its obligations under this Section
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