2010-070 Ordinance - Laserfiche WebLink

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"Participant" means any participant contracting with a Depository under a book entry system and includes securities brokers and dealers, banks and trust companies, and clearing corporations. "Principal Payment Dates" means December 1 in each of the years from 2011 through 2019. "Purchase Agreement" means the Bond Purchase Agreement between the City and the Original Purchaser, as it may be modified from the form on file with the Clerk of Council and signed by the Mayor and the Director of Finance in accordance with Section 6. "Registrar Agreement" means the Bond Registrar Agreement between the City and the Bond Registrar, as it may be modified from the form on file with the Clerk of Council and signed by the Mayor and the Director of Finance in accordance with Section 4. "Rule" means Rule 15c2-12 prescribed by the SEC pursuant to the Securities Exchange Act of 1934. "SEC" means the Securities and Exchange Commission. The captions and headings in this ordinance are solely for convenience of reference and in no way define, limit or describe the scope or intent of any Sections, subsections, paragraphs, subparagraphs or clauses hereof. Reference to a Section means a section of this ordinance unless otherwise indicated. Section 2. Authorized Principal Amount and Purpose• Application of Proceeds. It is necessary to issue bonds of this City in a maximum aggregate principal amount of $800,000 (the Bonds) for the purpose of improving Clague Road, Decker Road, Eleanor Drive, Evelyn Drive, Gladland Avenue, Grace Road, Kennedy Ridge Road, Lewis Road, Martin Drive, Oring Road, Root Road, Ivy Court, Tallwood Court and Tallwood Drive between certain termini by preparing the surface and resurfacing with asphaltic concrete, together with the necessary appurtenances and work incidental thereto, and to retire the Outstanding Note. Subject to the limitations set forth in this ordinance, the aggregate principal amount of the Bonds to be issued, the principal maturities of and the principal payment schedule for the Bonds, the interest rate or rates that the Bonds shall bear and certain other terms and provisions of the Bonds identified in this ordinance are subject to further specification or determination in the Certificate of Award upon the finalization of the terms and provisions of the Bonds. The proceeds from the sale of the Bonds, except any premium and accrued interest, shall be paid into the proper fund or funds, and those proceeds are appropriated and shall be used for the purpose for which the Bonds are being issued. Any portion of those proceeds representing premium and accrued interest shall be paid into the Bond Retirement Fund. Section 3. Denominations• Datin Princi al and Interest Pa ment and Redem tion Provisions. The Bonds shall be issued in one lot and only as fully registered bonds, in the Authorized -4-