89-100 Ordinance - Laserfiche WebLink

Home Browse Search

Project shall be paid at not less than the prevailing rates of wages for 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 of the Ohio Revised Code for determination of prevailing wage rates, provided that should the Borrower or other nonpublic user undertake, as part of the Project, construction to be performed by the Borrower's regular bargaining unit employees who are covered under a collective bargaining agreement which was in existence prior to the date of the commitment instrument undertaking to issue the Bonds then, in that event, the rate of pay provided under the collective bargaining agreement may be paid to such employees. Section 8. Basic Documents. Each of the Executive and the Fiscal Officer are hereby authorized and directed to execute, acknowledge, accept, assign and deliver, as appropriate, in the name and on behalf of the Issuer, the Indenture, the Loan Agreement, the Bond Purchase Agreement, to accept the Project Note and deliver the same to the Trustee, all in substantially the forms submitted to this Legislative Authority, which instruments are hereby approved, with such changes therein not inconsistent with this Bond Legislation and not substantially adverse to the Issuer as may be permitted by the Act and approved by the officer executing the same on behalf of the Issuer. The approval of such changes by said officer, and that such changes are not substantially adverse to the Issuer, shall be conclusively evidenced by the execution of such instruments. In addition to the covenants of the Issuer in this Bond Legislation, the Issuer has made further covenants which are contained in the Indenture and the Loan Agreement. Section 9. Offering Circular. The Issuer hereby consents to the Original Purchaser using and distributing and permitting the use and distribution of the Offering Circular (including a preliminary Offering Circular and a final Offering Circular) and any supplements thereto. The Executive is authorized and directed to advise the Original Purchaser in writing regarding limitations on anyone's use of the Offering Circular and any supplements thereto for purposes of marketing or reoffering the Project Bonds as necessary or appropriate to protect the interest of the Issuer. Section 10. Other Documents. The Executive, the Fiscal Officer, and the Clerk, as appropriate, are hereby further authorized and directed to execute such certifications, financing statements, assignments and instruments as are in the opinion of the legal officer and bond counsel to the Issuer necessary to perfect the pledges set forth in the Indenture and to consummate the transactions provided for in the Indenture and the Loan Agreement. - 14 -