99-081 Ordinance - Laserfiche WebLink

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2. Upon receipt of a request from the Borrower, the Issuer will promptly issue the Bonds in one or more series, maturing in such amounts and times, bearing interest at such rate or rates, payable on such dates and containing such optional and mandatory redemption features and prices as are requested by the Borrower, and will deliver the Bonds to the purchaser or purchasers thereof and cooperate to its fullest extent in consummating the transaction; provided, however, that no such Bonds shall be issued unless (A) the Borrower has provided evidence satisfactory to the Issuer of compliance with all applicable federal income tax and securities laws and State law, and (B) the Borrower shall have either (i) obtained a credit facility of a credit facility provider whose unsecured, uninsured and unguaranteed debt (or, in the case of a bank subsidiary of a bank holding company, whose bank holding company's debt) is rated in a rating category not lower than the third highest rating category by a nationally recognized municipal securities rating service, or another credit facility reasonably satisfactory to the Issuer, to secure the payment of principal and interest on the Bonds, or (ii) provided written documentation satisfactory to the Issuer and the Issuer's legal counsel to evidence that the Bonds have been purchased directly or privately placed with a sophisticated institutional investor and that those investors are not relying on the Issuer as to the accuracy or completeness of any information provided to the investors regazding the Project, the Borrower. Any such Bonds shall be issued no later than one year from the date of this Agreement. 3. (A) All wages paid to laborers and mechanics employed on the Project shall be paid at not less than the prevailing rates of wages of laborers and mechanics for the class of work called for by the Project, which wages shall be determined in accordance with the requirements of Chapter 4115, Ohio Revised Code, for determination of prevailing wage rates; provided that the requirements of this section do not apply where the federal government or any of its agencies furnished by loan or grant all or any part of the funds used in connection with such project and prescribes predetermined minimum wages to be paid to such laborers and mechanics; and provided further that if the Borrower undertakes, as part of the Project, construction to be performed by its regular bargaining unit employees who are covered under a collective bargaining agreement which was in existence pnor to the date of this Agreement, then, in that event, the rate of pay provided under the applicable collective bargaining agreement may be paid to such employees. (B) The Issuer has heretofore designated as the Prevailing Wage Coordinator for the Project, pursuant to Section 4115.032, Ohio Revised Code. In order to assist the Prevailing Wage Coordinator in performing his/her responsibilities and in order to ensure compliance with the requirements of the immediately preceding paragraph, the Borrower shall provide the following to the Prevailing Wage Coordinator: (i) The name, address, phone number of each contractor or subcontractor, and name and address of the contractor's or subcontractors bonding or surety company. (ii) The dates during the life of each contract or subcontract when payments of wages to employees are to be made; and (iii) Certified payrolls from each contractor or sub-contractor starting no later than two weeks after the initial pay period and weekly thereafter for projects expected to take four months or fewer to complete and monthly thereafter for projects expected to take more than four months to complete. Each payroll shall include, or be supplemented to include, the full name, address and social security number of each employee; the work classification; the number of hours worked on the Project during the relevant pay period; the actual hourly rate of pay for the basic rate and overtime rate; the type and amount of fringe -2- ?