2006 033 Ordinance - Laserfiche WebLink

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ORDINANCE NO. 2006-33 PAGE 10 The Director of Finance is also hereby authorized and directed, to the extent necessary or required, to enter into any agreements determined necessary in connection with the book entry system for the Bonds, including the execution of a Blanlcet Issuer Letter of Representations in the form utilized by The Depository Trust Company. Section 6. Sale of the Bonds. (a) To the Original Purchaser. The Bonds shall be sold by the Director of Finance at private sale and in such manner as he may determine to be in the best interests of and financial advantages to the Village in light of conditions in the financial markets and related marketing factors, at not less than 100% of par, plus accrued interest on the Bonds from their date to the Closing Date, and shall be awarded and sold by the Director of Finance to the purchaser thereof at such sale (the Original Purchaser) with and upon such other terms as are required or authorized by this ordinance to be specified in the Certificate of Award, in accordance with law, and the provisions of this-ordinance. The Director of Finance shall sign and deliver the Certificate of Award and shall cause the Bonds to be prepared and signed and delivered, together with a true transcript of proceedings with reference to the issuance of the Bonds, to the Original Purchaser upon payment of the purchase price. The Mayor, the Director of Finance, the Clerk of Council, the President of Council, the Law Director and other Village officials, as appropriate, each are authorized and directed to sign any transcript certificates, financial statements and other documents and instruments and to take such actions as are necessary or appropriate to consummate the transactions contemplated by this ordinance. The Director of Finance is authorized, if it is determined to be in the best interest of the Village, to combine the issue of Bonds with one or more other unvoted bond issues of the Village into a consolidated bond issue pursuant to Section 133.30(B) of the Revised Code. (b) Primaiv Offering Disclosure -- Official Statement. The Mayor and the Director of Finance are authorized and directed, on behalf of the Village and in their official capacities, to (i) prepare or cause to be prepared, and make or authorize modifications, completions or changes of or supplements to, a disclosure document in the form of an official statement (including within such term, but not limited to, an annual information statement) relating to the original issuance of the Bonds, (ii) determine, and to certify or otherwise represent, when the official statement is to be "deemed final" (except for permitted omissions) by the Village as of its date or is a final official statement for purposes of paragraph (b) of the Rule, (iii) use and distribute, or authorize the use and distribution of those official statements and any supplements thereto in connection with the original issuance of the Bonds, and (iv) complete and sign the final official statement together with such certificates, statements or other documents in connection with the finality, accuracy and completeness of those official statements as they may deem necessary or appropriate. (c) Obtaining Rating or Bond Insurance Policy; Covenants with Bond Insurer. If, in the judgment of the Mayor or the Director of Finance, the filing of an application for (i) a rating on the Bonds by one or more nationally-recognized rating agencies, or (ii) a policy of insurance from a company or companies (the Bond Insurer) to better-assure the payment of principal of and interest on the Bonds, is in the best interest of and financially advantageous to this Village, the Mayor or the Director of Finance may prepare and submit those applications, provide to each such agency or such Bond Insurer such information as may be required for the purpose, provide further for the payment of the cost of obtaining each such rating or policy, except to the extent paid by the Original Purchaser, from the proceeds of the Bonds to the extent available and otherwise from any