89-100 Ordinance - Laserfiche WebLink

Home Browse Search

subject to mandatory tender for purchase as provided for in Sections 2.04 and 2.05 of the Indenture, respectively. (f) Redemption of Bonds. The Project Bonds shall be subject to mandatory sinking fund redemption, mandatory redemption upon the expiration of the Letter of Credit, optional redemption, extraordinary optional redemption and mandatory redemption upon a Determination of Taxability, as defined in the Indenture. The terms, conditions, manner and the times for the various types of redemption are provided in Article IV of the Indenture. The Issuer hereby authorizes the Borrower to act as its agent in directing optional redemption of the Project Bonds at the times and in the manner determined by the Borrower. (g) Payment. Bond Service Charges on the Project Bonds shall be payable as provided in the Indenture. (h) Execution. The Project Bonds shall be executed on behalf of the Issuer by the Executive and the Fiscal Officer, provided such signatures may be by facsimile, and shall bear the seal of the Fiscal Officer or a facsimile thereof. (i) Registrar. The Trustee shall be the initial Registrar for the Bonds and may resign, be removed, or a successor Registrar may be appointed as provided in Section 6.11 of the Indenture. (j) Remarketin A ent. Meuse, Rinker, Chapman, Endres & Brooks is hereby appointed Remarketing Agent for the Project Bonds to perform the functions set forth in, and subject to, the provisions of Sections 6.17 through 6.20 of the Indenture. The Remarketing Agent is hereby determined to be an "Agent" as defined in Section 9.98(C), Ohio Revised Code with respect to the Remarketing Agent's functions in connection with determinations of floating interest rates and conversion of terms between the floating and fixed interest rates, as provided in Section 9.982, Ohio Revised Code. The designation of the Remarketing Agent as an "Agent" for the purpose of determining the appropriate interest rate for the Interest Rate Mode then in effect on the Project Bonds and for making determinations and directions in connection with the other arrangements with respect to floating interest rate structures and interest rate periods is hereby determined to enhance the issuance of the Project Bonds and to provide for terms most beneficial and satisfactory to the Borrower, the Letter of Credit Bank as well as the Issuer. Section 4. Security for the Project Bonds. To the extent provided in, and except as otherwise permitted under the Indenture, the Bonds shall be equally and ratably (i) payable solely from the Revenues and (ii) secured by the Indenture, - 12 -