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"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 $2,855,000 to
<br />refund at a lower overall interest cost the Refunded Bonds, which Refunded Bonds were issued for
<br />the purpose of improving the City's street system by grading, draining, widening, reconstructing
<br />the pavement base, preparing the surface and surfacing and resurfacing, constructing,
<br />reconstructing and rehabilitating catch basins, curbs, driveway aprons, manholes, sanitary sewers
<br />and sanitary sewer service connections, sidewalks, storm sewers and water mains and water
<br />service connections, and installing street lighting, all where necessary, in Cambridge Drive,
<br />Christman Drive, Hastings Drive, Stewart Avenue, Sutton Drive, Birch Lane, Coe Avenue, East
<br />Oxford Oval, Esther Avenue, Hawkins Road, MacBeth Avenue, Noreen Drive, North Oxford Oval,
<br />Olmsted Oval, Palm Drive, South Oxford Oval, Westchester Drive, West Oxford Oval, Oak Lane,
<br />Antler Drive, Doe Drive, Hunter Drive, Bellevue Drive, Berkshire Drive, Croton Drive, David
<br />Drive, Devon Drive, Dorothy Drive, Glouchester Drive, Hampton Drive, Midvale Drive, Northern
<br />Avenue, Paisley Drive, Pompton Drive, Southern Avenue, Tudor Drive, Vincent Drive, Willet
<br />Circle, Butternut Ridge Road, Alden Drive, Dewey Road, Douglas Drive, Sweetbriar Drive,
<br />Willet Road, Maria Lane, Rosita Lane, Deerfield Drive, Dawn Drive, Dawn Circle, Chase Drive,
<br />Fawn Drive, Brighton Drive, Surrey Drive, Stafford Drive, Sommerset Drive, Allendale Drive,
<br />Amesbury Drive, Ashton Circle, Beaumont Drive, Bretton Ridge Drive, Carey Lane, Carla Lane,
<br />Cedarwood Lane, Chadbourne Drive, Clayton Drive, Clinton Drive, Decker Road, Delmere Drive,
<br />Dorchester Drive, Fairlawn Drive, Huntington Drive, LeBern Drive, Revere Drive, South Porter
<br />Road, Warrington Drive, Wellington Drive, Westminster Drive, Woodview Drive, Frank Street,
<br />Park Lane, Ambour Drive, Beech Lane and Alexander Road, in each case together with necessary
<br />appurtenances and work incidental thereto, and to pay expenses related to that refunding and to the
<br />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
<br />consistent with the agreements and covenants of the City set forth in the Original Bond Legislation,
<br />the Refunded Bonds and this ordinance.
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