37-09 Repeal Ordinance 26-09 - Laserfiche WebLink

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"Purchase Agreement" means any Note Purchase Agreement between the City and the Original Purchaser, entered into in accordance with Section 7 of this ordinance. "Register" means all books and records necessary for the registration, exchange, and transfer of the Notes. "Registrar" means The Huntington National Bank or any successor registrar designated in accordance with the Registrar Agreement, or any other bank or trust company as designated by the Director of Finance in the Certificate of Award. "Registrar Agreement" means the Note Registrar Agreement between the City and the Registrar, as supplemented, amended, or modified. "SEC Rule" means SEC Rule 15c2-12. "SID" means the state information depository with which filings are required to be made by the City in accordance with the SEC Rule. "Specified Events" means any of the following events, with respect to the Notes: principal and interest payment delinquencies; non-payment-related defaults; unscheduled draws on debt-service reserves reflecting financial difficulties; unscheduled draws on credit enhancements reflecting financial difficulties; substitution of credit or liquidity providers or their failure to perform; adverse tax opinions or events affecting the tax- exempt status of the Notes; modifications to rights of Holders or beneficial owners of the Notes; bond calls; defeasances; release, substitution, or sale of property securing repayment of the Notes; and rating changes. Section 16. Effective Date. This ordinance is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, property, health, safety and welfare in the City, and for the further reason that the Notes must be sold promptly in order to take advantage of favorable interest rates; and provided it receives the affirmative vote of at least five of its members elected to Council, this ordinance shall take effect and be in force immediately upon its passage by the Council and approval by the Mayor; otherwise it shall take effect and be in force after the earliest period allowed bylaw. is hereby repealed. Section 2. It is found and determined that all formal actions of this Council concerning and relating to the passage of this ordinance were adopted in an open meeting of this Council, and that all such deliberations of this Council and of any of its committees that resulted in such formal action were in meetings open to the public in compliance with all legal requirements. Section 3. That this ordinance is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, property, health, safety and. we1_fare in the -ts-