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81-001 Ordinance
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81-001 Ordinance
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1/11/2014 11:45:53 AM
Creation date
12/12/2013 11:35:30 AM
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North Olmsted Legislation
Legislation Number
81-001
Legislation Date
1/26/1981
Year
1981
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A"-. <br />%MW <br />? <br />? <br />? <br />( f) Ri`ghts under Agr_e`me::L. 'I'ne rloldi?r, zn its name or <br />in the naine. of -Eh? Zssuer, nta.y eni'or_r.e all riahts of <br />the 7::>,:,Uer anca all obl:igations of' Lhe Com,oariy under_ and <br />puLstiant to the Agr:eomer.t, w.,ether or not the Issuer is iri <br />default of the puraui'c or er.foYc^1rI-??nt Of stzch riqhts and <br />ob1iy ?it- ions. <br />C,27TlOr'CE?111°21t Of ACj.Ce(_'i"i_'.l`l±' . rl':?E.' I.SsU?X' Sflall dO all <br />t.l7lilgS d[1cj ?tc`1ke P.11 cCi 1Qr7 Qn ltS Pdit Tl;-?C?SsaLt' tQ <br />comoly with the obl.igati.on:,clut i.es anc3 r_esuo,isibiiities en <br />its part under the AyreNicient, anc7 -vvilJ_ 'Ca?:p «:Il acci.ons <br />within i_ts authority an;3 .zs may be app::opt, iate to keep the <br />Agreerlent in e.Efect in accoruz'!:::e wiTh ttie tetms thereof <br />and to etiforce and -pr.okect the righc5 0f t'ne Essuer <br />ther_eundzr, includiny ar_tions at law and in ecjuity. <br />(h) Arbitrage Proviti;ions. Tine Issuer }zerelby coveriants <br />tiiat it will r_estiict the use o:E: t'ne pr.aceed5 of the <br />Pro:ject Bond in such manrier and to sucn extent, if any, as <br />may be necessary, after takin, into accouri.L- rNasonable <br />expectations at the timF of the origi?al caelivery oi and <br />paym??nt for the Project 13ond, so Lhat it will not <br />const-i tute an "arbitrage b0ivl" under Section 103(c) oi tiZe <br />Internal Revenue Coc';> o£ 1954, as a.net;ded, an,1 thF, <br />regu?ati.c.)ns pro??ulyated by t.,ie Depa.rtment - oi: Treasury <br />th2reunaer. Th` Fi <:;ca). Of£icer, ur .zny orher oificer <br />'t1atiJ1?:g r'eSpJ1151::'1).1}y 6litll re:ip?:`t t.U the 1SSUaC'iCe Of Lr1:=_' <br />Projec` 13ond, i.s auchorized and u:ir.f?-ct.e:i, ala:1e or in <br />corijutict:iori wit.'ci aiiy of_ tiie fvreyo:in,q, w.i.th ar?y otizer_ <br />officer, employee, corlsultant ar ayent of the Issiier,, or <br />with any gene.r_al part.ner of the Company, to g:ve tor <br />inclusion in the transcript of proceedinr,s fo:: the Project <br />Bond an appropriate certiFicate of the Issuer setting forth <br />the reasonable expectations of the Issuer regarding the <br />amount and use of the Froceeds from the sale of the Project <br />Bond and the facts ar,d estiniates on which such Pxpectations <br />are based, such certificate to be premised in applicable <br />part on the reasonable expeetations and the facts and <br />estimates on which such are basec] as provided by the <br />Company, a11 as of_ the date of criginal delivery of and <br />paymerit f.or the Project Bond. Tne Cler?c of the Legislative <br />Autharity or other aporopr_ictLe o`ficer of the Issuer snal?_ <br />furnish to the Uriginal Purcnaser a true, certified <br />transcrzpt of all pr_oceedinc1s had ,vith reFerencc to the <br />issu6nce oF the Project B(-?nd, along with such infor.niation <br />frora the records a, is necessarp Lo c,et?r_mine the <br />r_egu.larity and validity of the i---suance, of the Yroject <br />t3otid, <br />15
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