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ORDINANCE N0.2006-108 <br />BY: Mayor O'Grady <br />AN ORDINANCE AMENDING SECTIONS 1, 3 AND 9 OF <br />ORDINANCE NO. 2006-31 TO EXTEND THE PERIOD <br />DURING WHICH THE BONDS AUTHORIZED THEREBY <br />MAY BE ISSUED, AND DECLARING AN EMERGENCY. <br />Ohio, that: <br />BE IT ORDAINED by the Council of the City of North Olmsted, Cuyahoga County, <br />Section 1. Section 1 of Ordinance No. 2006-31 passed on February 21, 2006, be and is <br />hereby amended to read as follows: <br />"Section 1. Definitions and Interpretation. In addition to the words <br />and terms elsewhere defined in this ordinance, unless the context or use <br />clearly indicates another or different meaning or intent: <br />"Authorized Denominations" means (a) with respect to Capital <br />Appreciation Bonds, if any, a denomination equal to the principal amount <br />that, when interest is accrued and compounded thereon at the applicable <br />compounding interest rate on each Interest Accretion Date to the stated <br />maturity of those Bonds, will result in a Maturity Amount equal to $5,000 <br />or any whole multiple thereof and (b) with respect to Current Interest <br />Bonds, a denomination of $1,000 or any whole multiple thereof. <br />"Bond proceedings" means, collectively, this ordinance, the <br />Certificate of Award, the Continuing Disclosure Certificate and such other <br />proceedings of the City, including the Bonds, that provide collectively for, <br />among other things, the rights of holders and beneficial owners of the <br />Bonds. <br />"Bond Register" means the books and records necessary for the <br />registration, exchange and transfer of the Bonds maintained by the Bond <br />Registrar as provided in Section 5. <br />"Bond Registrar" means U.S. Bank National Association, Cleveland, <br />Ohio, as the initial authenticating agent, bond registrar, transfer agent and <br />paying agent for the Bonds under the Registrar Agreement and until a <br />successor Bond Registrar shall have become such pursuant to the provisions <br />of the Registrar Agreement and, thereafter, "Bond Registrar" shall mean the <br />successor Bond Registrar. <br />"Book entry form" or "book entry system" means a form or system <br />under which (a) the ownership of book entry interests in Bonds and the <br />principal of and interest on Bonds may be transferred only through a book <br />