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<br />Boulevard, Forrestwood Parkway, Gazdenia Drive, Kew Drive, Laurel Lane, Linden Circle, Linwood
<br />Circle, Lisa Lane, Lusandra Circle, Marcie Lane, Marquette Boulevard, Mary Kay Circle, Nandina
<br />Drive, Oak Circle, Oak Lane, Pinewood Circle, Plumwood Drive, Sanders Lane, Wisteria Drive and
<br />Wood Park Lane by installing street lighting and related underground wiring, in each case together
<br />with the necessary appurtenances and work incidental thereto, as part of a consolidated issue of
<br />$2,100,000 Various Purpose Improvement Notes, Series 2000-1, dated June 21, 2000, which
<br />Outstanding Series C Notes are to mature on September 21, 2000; and
<br />WHEREAS, this Council fmds and determines that the City should issue the Bonds
<br />described in Section 2 to provide funds to retire the Outstanding Series A Notes, the Outstanding
<br />Series B Notes and the Outstanding Series C Notes; and
<br />WHEREAS, the Director of Finance, as fiscal officer of this City, has certified to this
<br />Council that the estimated life or period of usefulness of each class of the improvements described in
<br />Section 2 is at least five years and that the maximum maturity of the Bonds described in Section 2 is
<br />ten years;
<br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North Olmsted,
<br />Cuyahoga County, Ohio, that:
<br />Section 1. Definitions and Interpretations. In addition to the words and terms elsewhere
<br />defined in this ordinance, unless the context or use clearly indicates another or different meaning or
<br />intent:
<br />"Annual Information" means annual financial information and operating data of the type
<br />to be specified in the Continuing Disclosure Certificate in accordance with the Rule.
<br />"Authorized Denominations" means (a) with. respect to Capital Appreciation Bonds, if
<br />any, the denomination equal to the principal amount that, when interest is accrued and compounded
<br />thereon at the applicable compounding interest rate on each Interest Accretion Date to the stated
<br />maturity of those Bonds, will result in a Maturity Amount of $5,000 or any integral multiple thereof
<br />and (b) with respect to Current Interest Bonds, the denomination of $5,000 or any integral multiple
<br />thereof.
<br />"Bond proceedings" means, collectively, this ordinance, the Certificate of Award, the
<br />Continuing Disclosure Certificate and such other proceedings of the City, including the Bonds, that
<br />provide collectively for, among other things, the rights of holders and beneficial owners of the Bonds.
<br />"Bond Register" means a11 books and records necessary for the registration, exchange
<br />and transfer of Bonds as provided in Section 5.
<br />"Bond Registraz" means National City Bank, Cleveland, Ohio, as the initial
<br />authenticating agent, bond registrar, transfer agent and paying agent for the Bonds under the Registrar
<br />Agreement and until a successor Bond Registraz shall have become such pursuant to the provisions of
<br />the Registrar Agreement and, thereafter, "Bond Registrar" shall mean the successor Bond Registrar.
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