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83-110 Ordinance
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83-110 Ordinance
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1/11/2014 12:36:14 PM
Creation date
12/17/2013 4:26:41 AM
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North Olmsted Legislation
Legislation Number
83-110
Legislation Date
9/20/1983
Year
1983
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. . ? ? <br />further authorized and directed to execute such certifica- <br />tions, financing statements, assignments, Information <br />Returns (including IRS Form 8038) and instruments as are in <br />the opinion of the Legal Officer necessary or appropriate to <br />perfect the assignments and grants set forth herein and in <br />the Assignment and to consummate the transactions pro vided <br />for in this Bond Legislation, the Agreement and the Assign- <br />ment. <br />Section 12. Payment and Discharq e If the Issuer, <br />from the Pledged Receipts, shall pay or cause to be paid and <br />discharged the Project Bonds, the covenants, agreements and <br />other obligations of the Issuer hereunder, and in the Proj- <br />ect Bonds, the Agreement and the Assignment shall be dis- <br />charged and satisfied, except for the obligation, if any, to <br />make any payment, from the Pledged Receipts, required upon <br />the loss of tax exemption as provided in Section 3 above. <br />Section 13. Compliance with en Meetin Rectuire- <br />ments. It is hereby found and determined that all formal <br />actions of the Legislative Authority concerning and relating <br />to the adoption of this Bond Legislation were adopted in an <br />open meeting of the Legislative Authority, and that all <br />deliberations of the Legislative Authority and of any of its <br />committees that resulted in such formal action, were in <br />meetings open to the public, in compliance with all legal <br />requirements, including Section 121.22-of the Ohio Revised <br />Code. <br />Section 14. Compliance With Code Section 103(k). It <br />is hereby found and determined that the public approval <br />requirements of Section 103(k) of the Code have been satis- <br />fied. <br />Section 15.. Payments Due on Sundavs and Holidays In <br />any case where the date of maturity of or due date of inter- <br />est on or principal of the Project Bonds shall be a Sunday <br />or a day on which Capital is required, or authorized or not <br />prohibited, by law (including executive orders) to close and <br />is closed, then payment of such interest or principal need <br />not be made on such date but may be made on the next suc- <br />ceeding business day on which Capital is open for business. <br />Section 16. Effective Date. This Ordinance is hereby <br />declared to be an emergency measure necessary for the imme- <br />diate preservation of the public peace, health and safety, <br />and for f urther reasons that this Ordinance must be imme- <br />diately effective in order to eliminate the hazards and <br />20
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