92-046 Ordinance - Laserfiche WebLink

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The Issuer (i) will take, or require to be taken, all actions that may be required of it for the interest on the Series 1992 Bonds to be and remain excluded from gross income for federal income tax purposes, and (ii) will not take or authorize to be taken any actions that would adversely affect that exclusion under the provisions of the Code. The Execudve, Fiscal Officer and other appropriate officers aze hereby authorized and directed to take any and all actions and make or give reports and certificadons, as may be appropriate to assure such exclusion of that interest. (b) Transcdm of Pr inQS. The Clerk, or other appropriate officer of the Issuer, shall furnish to the Original Purchaser a true transcript of proceedings, certified by the Clerk or other officer, of (i) all proceedings had with reference to the issuance of the Series 1992 Bonds and (ii) any other information from the records of the Issuer which may be necessary or appropriate to determine the regularity and validity of the issuance of the Series 1992 Bonds. (c) Prevailing Wages. All wages paid to laborers and mechanics employed on the Project shall be paid at the prevailing rates of wages of laborers and mechanics for the class of work called for by the Project, which wages shall be determined in accordance with the requirements of Chapter 4115 of the Ohio Revised Code for determination of prevailing wage rates, provided that the requirements of this section 10(c) do not apply where the federal government or any of its agencies furnished by loan or grant all or any part of the funds in connection with the Project and prescribes predetermined minimum wages to be paid to such laborers and mechanics; and provided further that should a nonpublic user beneficiary of the Project undertake, as part of the Project, construction to be performed by its regular bargaining unit employees who are covered under a collective bargaining agreement which was in existence prior to the date of the commitment instrument undertaking to issue the prior issue then in that event the rate of pay provided under the collecdve bargaining agreement may be paid to such employees. The Legisladve Authority hereby aclrnowledges that the Project is completsd and its acquisition, construction and equipping was made subject to the forgoing requirements pursuant to Ordinance Number 83-152. Section 11. Indenture the Purchace Agreement and the Agreement. To provide for the issuance and sale of the Series 1992 Bonds and the consummation of the transactions contemplated therein, the Executive and the Fiscal Officer are authorized and directed, for and in the name and on behalf of the Issuer, either alone or in combination with each other, to execute, acknowledge and deliver, the Indenture, the Purchase Agreement, and the Agreement in substandally the forms submitted to this Legislative Authority. Those instruments are approved with changes therein not inconsistent with this Bond Legislation and not substandally adverse to the Issuer and which are permitted by the Act and shall be approved by the officer or officers executing the Indenture, the Purchase Agreement and the Agreement; provided, that the approval of those changes by such officer or officers, and their character as not being substantially adverse to the Issuer, shall be evidenced conclusively by the execudon of those instruments by such officer. Section 12. Qther pocuments. The Executive, the Fiscal Officer or the Clerk, as appropriate, is authorized and directed to execute any certifications, financing statements, -8-