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<br />"Registrar Agreement" means the Bond Registrar Agreement between the City and the
<br />Bond Registrar, as it maybe modified from the form on file with the Clerk of Council and signed by
<br />the Mayor and the Director of Finance in accordance with Section 4.
<br />"Rule" means Rule 15c2-12 prescribed by the SEC pursuant to the Securities Exchange
<br />Act of 1934.
<br />"SEC" means the Securities and Exchange Commission.
<br />The captions and headings in this ordinance are solely for convenience of reference and
<br />in no way define, limit or describe the scope or intent of any Sections, subsections, paragraphs,
<br />subparagraphs or clauses hereof. Reference to a Section means a section of this ordinance unless
<br />otherwise indicated.
<br />Section 2. Authorized Principal Amount and Purpose; Application of Proceeds. It is
<br />necessary to issue bonds of this City in a maximum aggregate principal amount of $1,500,000 to
<br />refund at a lower overall interest cost the Refunded Bonds, which Refunded Bonds were issued for
<br />the purpose of (i) improving Sharon Drive and South Canterbury Road by grading, draining,
<br />widening, paving, constructing and reconstructing curbs, gutters, catch basins, storm sewers, sanitary
<br />sewers, water lines, sidewalks and driveway approaches, where necessary, and installing traffic signs
<br />and signalization, street lighting and related underground wiring; (ii) improving North Porter Road
<br />from Lorain Road to the northerly corporate limit, in cooperation with Cuyahoga County, by grading,
<br />draining, widening, constructing and reconstructing the pavement base, where necessary, preparing
<br />the surface and surfacing and resurfacing; (iii) improving Benwood Circle, Blossom Boulevard,
<br />Brendan Lane, Caton Place, Carsten Lane, Cottonwood Trail, Country Club Boulevard, Dogwood
<br />Trail, Edgepark Drive, Forestwood Parkway, Great Northern Boulevard, Laurel Lane, Leenders Lane,
<br />Linwood Circle, Lisa Lane, Lusandra Drive, Marcie Lane, Marquette Boulevard, Mary Kay Circle,
<br />Newton Circle, Pine Circle, Root Road, Ross Circle, Sanders Lane, South Barton Road, Timber Cove
<br />Lane, Westview Drive and Woodpark Lane by reconstructing sections of the pavement base, where
<br />necessary; and (iv) improving Clayton Drive, Beaumont Drive, Nandina Drive, Kew Drive, Azalea
<br />Lane, Camellia Lane, Andorra Drive, Wisteria Drive, Gardenia Drive, Forestwood Parkway,
<br />Cottonwood Trail, Dogwood Trail, Linwood Circle, Driscoll Lane, Williamstown Drive, Ashbury
<br />Park Drive, Carsten Lane, Ross Circle, Caton Place, Hyannisport Drive, Leenders Lane, Newton
<br />Circle and Dorothy Drive by installing street lighting and underground wiring; in each case together
<br />with the necessary appurtenances and work incidental thereto, and to pay expenses related to that
<br />refunding and to the issuance of the Bonds.
<br />Subject to the limitations set forth in this ordinance, the aggregate principal amount of
<br />the Bonds to be issued, the principal maturities of and the principal payment schedule for the Bonds,
<br />the interest rate or rates that the Bonds shall bear and certain other terms and provisions of the Bonds
<br />identified in this ordinance are subject to further specification or determination in the Certificate of
<br />Award upon the finalization of the terms and provisions of the Bonds. The aggregate principal
<br />amount of Bonds to be issued, as so specified in the Certificate of Award, shall be the amount
<br />determined by the Mayor and the Director of Finance to be necessary, taking into account any
<br />premium above or discount from the aggregate principal amount of the Bonds at which they are sold
<br />to the Original Purchaser, to carry out the purpose for which the Bonds are to be issued in a manner
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