Laserfiche WebLink
ORDINANCE NO. 2006-32 PAGE 2 <br />provisions of the Registrar Agreement and, thereafter, "Bond Registrar" shall mean the successor <br />Bond Registrar. <br />"Book entry form" or "book entry system" means a form or system under which (a) <br />the ownership of book entry interests in Bonds and the principal of and interest on Bonds may be <br />transferred only through a book entry, and (b) physical Bond certificates in fully registered form <br />are issued by the Village only to a Depository or rts nominee as registered owner, with the Bonds <br />deposited with and maintained in the custody of the Depository or its agent. The book entry <br />mamtained by others than the Village is the record that identifies the owners of book entry <br />interests in those Bonds and that principal and interest. <br />"Certificate of Award" means the certificate authorized by subsection (a) of Section 6, <br />to be executed by the Director of Finance, setting forth and determining those terms or other <br />matters pertaining to the Bonds and their issuance, sale and delivery as this ordinance requires or <br />authorizes to be set forth or determined therein. <br />"Closing Date" means the date of physical delivery of, and payment of the purchase <br />price for, the Bonds. <br />"Code" means the Internal Revenue Code . of 1986, the Regulations (whether <br />temporary or final) under that Code or the statutory predecessor of that Code, and any <br />amendments of, or successor provisions to, the foregoing and any official rulings, announcements, <br />notices, procedures and judicial determinations regarding any of the foregoing, all as and to the <br />extent applicable. Unless otherwise indicated, reference to a Section of the Code includes any <br />applicable successor section or provision and such applicable Regulations, rulings, <br />announcements, notices, procedures and determinations pertinent to that Section. <br />"Depository" means any securities depository that is a clearing agency under federal <br />law operating and maintaining, with its Participants or otherwise, a book entry system to record <br />ownership of book entry interests in Bonds or the principal of and interest on Bonds, and to effect <br />transfers of Bonds, in book entiy form, and includes and means initially The Depository Trust <br />Company (a limited purpose trust company), New York, New York. <br />"Interest Payment Dates" means June 1 and December 1 of each year during which the <br />Bonds are outstanding, commencing on the first such date set forth in the Certificate of Award. <br />"MSRB" means the Municipal Securities Rulemaking Board established by the SEC. <br />"NRMSIR" means each nationally recognized municipal securities information <br />repository designated from time to time by the SEC in accordance with the Rule. <br />"Participant" means any participant contracting with a Depository under a book entry <br />system and includes securities brokers and dealers, banks and trust companies, and clearing <br />corporations. <br />"Principal Payment Dates" means December 1 in each of the years from and including <br />2007 to and including 2016. <br />"Registrar Agreement" means the Bond Registrar Agreement between the Village and <br />the Bond Registrar, as it may be modified from the form on file with the Clerlc of Coluicil and <br />executed by the Mayor, the President of Council and the Director of Finance in accordance with <br />Section 4.