2001-145 Ordinance - Laserfiche WebLink

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. . ,...? ..,_?m,.w?. . r_. ., _ The Notes may be issued to a Depository for use in a book entry system and, if and as long as a book entry system is utilized, (i) the Notes may be issued in the form of a single Note made payable to the Depository or its nominee and deposited with and retained in the custody of the Depository or its agern for that purpose; (ii) the owners of book entry irrterests sha11 have no right to receive the Notes in the form of physical securities or certificates; (iii) ownership of book entry isrterests sha11 be shown by book entry on the system mairrtained and operated by the Depository and its Participants, and transfers of the ownership of book entry irrterests sha11 be made only by book errtry by the Depository and its Participa.nts; and (iv) the Notes as such shall not be transferable or exchangeable, except for transfer to another Depository or to another nominee of a Depository, without fiuther action by the City. If any Depository determines not to coYrtinue to act as a Depository for the Notes for use in a book entry system, the Director of Finance may attempt to establish a securities depository/book entry relationship with another qualified Depository. If the Director of Finance does not or is unable to do so, the Director of Finance, after making provision for notification of the book entry interest owners by the then Depository and any other arrangemerrts deemed necessary, sha11 permit withdrawal of the Notes from the Depository, and shall cause the Notes in bearer or payable form to be signed by the officers authorized to sign the Notes and delivered to the assigns of the Depository or rts nominee, all at the cost and expense (including any costs of printing), if the event is not the result of City action or inaction, of those persons requesting such issuance. The Director of Finance is also hereby authorized and directed, to the extent necessary or required, to enter urto any agreements detennined necessary in connection with the book entry system for the Notes, after determining that the signing thereof will not endanger the funds or securities of the City. Section 6. The Notes shall be sold by the Director of Finance at private sale at a pwchase price not less than par plus accrued interest, in accordance with Iaw and the provisions of this ordinance. In accordance with her determination of the best interest of the City and based on conditions then existing in the financial mazkets, the Director of Finance sha11 sign the Certificate o€ Award to establish and specify the interest rate the Notes are to bear, the final pwchase price of the Notes and other final terms of the Notes in accordance with the provisions of this ordinance and to evidence the sale of the Notes to the original purchaser. The Director of Finance sha11 then cause the Notes to be prepared, and have the Notes signed and delivered, together with a true transcript of proceedings with reference to the issuance of the Notes if requested by the original purchaser, to the original pwchaser upon payment of the purchase price. The Mayor, the Direetor of Finance, the Director of La.w, the Clerk of Council and other City officials, as appropriate, aze each authorized and directed to sign any transcript certificates, financial statemetrts and other doeumeYrts and instruments and to take such actions as are necessary or appropriate to consummate the transactions coritemplated by this ordinance. The Director of Finance is authorized, if it is determined to be in the best urterest of the City, to combine the issue of Notes with one or more other note issues of the City imo a consolidatal note issue pursuam to Section 133.30(B) of the Revised Code; provided that, if the aggregate principal amount of the consolidated issue is $1,000,000 or more, no note of that issue sha11 be issued in a denomination less than $100,000 or be exchangeable for other notes in denominations less than $100,000. -3-