2010-072 Ordinance - Laserfiche WebLink

Home Browse Search

plus (b) the product of (i) the difference between (A) the Compound Accreted Amount of that Bond on the immediately preceding Interest Accretion Date minus (B) the Compound Accreted Amount of that Bond on the immediately succeeding Interest Accretion Date, times (ii) the ratio of (C) the number of days from the immediately preceding Interest Accretion Date to the date of determination to (D) the total number of days from that immediately preceding Interest Accretion Date to the immediately succeeding Interest Accretion Date; provided, however, that in determining the Compound Accreted Amount of a Capital Appreciation Bond as of a date prior to the first Interest Accretion Date, the Closing Date shall be deemed to be the immediately preceding Interest Accretion Date and the principal amount of that Bond shall be deemed to be the Compound Accreted Amount on the Closing Date. "Continuing Disclosure Certificate" means the certificate to be signed by the Mayor and the Director of Finance pursuant to subsection (c) of Section 6, to be substantially in the form on file with the Clerk of Council, and which, together with the agreements of the City set forth in that subsection, shall constitute the continuing disclosure agreement made by the City for the benefit of holders and beneficial owners of the Bonds in accordance with the Rule. "Current Interest Bonds" means those Bonds designated as such in the Certificate of Award, maturing on the Principal Payment Dates set forth in the Certificate of Award, and bearing interest payable on each Interest Payment Date. "Depository" means any securities depository that is a clearing agency under federal law operating and maintaining, with its Participants or otherwise, a book entry system to record ownership of book entry interests in Bonds or the principal of and interest on Bonds, and to effect transfers of Bonds, in book entry form, and includes and means initially The Depository Trust Company (a limited purpose trust company), New York, New York. "Interest Accretion Dates" means, as to any Capital Appreciation Bonds, June 1 and December 1 in each year during which any Capital Appreciation Bonds are outstanding, commencing December 1, 2010. "Interest Payment Dates" means (a) as to Current Interest Bonds, June I and December 1 of each year during which the Current Interest Bonds are outstanding, commencing December 1, 2010, and (b) as to any Capital Appreciation Bonds, their respective maturity dates. "Maturity Amount" means, with respect to a Capital Appreciation Bond, the principal of and interest on that Bond due and payable at its stated maturity. "Original Purchaser" means The Huntington Investment Company, Columbus, Ohio. "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 2020. -3-