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., T.? <br />"NRMSIR" means each nationally recognized municipal securities information <br />repository designated from time to time by the SEC in accordance with the Rule. <br />"Original Purchaser" means NatCity Investments, Inc., Cleveland, Ohio. <br />"Participant" means any participant contracting with a Depository under a book entry <br />system and includes securities brokers and dealers, banks and trust companies, and clearing <br />corporations. <br />"Principal Payment Dates" means December 1 in each of the years from and <br />including 1997 to and including 2006. <br />"Purchase Agreement" means the Bond Purchase Agreement between the City and <br />the Original Purchaser, as it may be modified from the form on file with the Clerk of Council <br />and executed by the Mayor and the Director of Finance in accordance with Section 6. <br />"Registrar Agreement" means the Bond Registrar Agreement between the City and <br />the Bond Registrar, as it may be modified from the form on file with the Clerk of Council and <br />executed by the Director of Finance in accordance with Section 4. <br />"Rule" means Rule 15c2-12 prescribed by the SEC pursuant to the Securities <br />Exchange Act of 1934. <br />"SEC" means the Securities and Exchange Commission. <br />"SID" means the state information depository, if any, with which filings are required <br />to be made by the City in accordance with the Rule. <br />"Specified Events" means the occurrence of any of the following events, within the <br />meaning of the Rule, with respect to the Bonds, as applicable: principal and interest payment <br />delinquencies; non-payment related defaults; unscheduled draws on debt service reserves <br />reflecting financial difficulties; unscheduled draws on credit enhancements reflecting financial <br />difficulties; substitution of credit or liquidity providers, or their failure to perform; adverse tax <br />opinions or events affecting the tax-exempt status of the Bonds; modifications to rights of holders <br />or benefcial owners of the Bonds; Bond calls; defeasances; release, substitution, or sale of <br />property securing repayment of the Bonds; and rating changes. The City has not obtained or <br />provided, and does not expect to obtain or provide, any debt service reserves, and repayment <br />of the Bonds is not secured by a lien on any property capable of release or sale or for which <br />other property may be substituted. <br />The captions and headings in this ordinance are solely for convenience of reference <br />and in no way define, limit or describe the scope or intent of any Sections, subsections, <br />paragraphs, subparagraphs or clauses hereof. Reference to a Section means a section of this <br />ordinance unless otherwise indicated. <br />Section 2. Authorized PrinciDal Amount and Purpose• Application of Proceeds. <br />This Council determines that it is necessary and m the best interest of the City to issue bonds <br />of this City in the maximum aggregate principal amount of $770,000 for the purpose of <br />acquiring fire trucks, together with the necessary equipment and appurtenances thereto, for use <br />in carrying out functions of the Division of Fire of the Department of Public Safety (the Bonds). <br />Subject to the limitations set forth in this ordinance, the aggregate principal amount <br />of the Bonds to be issued, the principal maturities of the Bonds, the interest rate or rates that <br />-4- <br />D03:[00523.DOCS.NOR05228]BOND_ORDINANCE FIRE TRUCK $770.