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<br />amended by Ordinance No. 95-89, passed on June 6, 1995, as a part of a consolidated issue of
<br />$35,310,000 Various Purpose Improvement Notes, Series 1995, dated June 22, 1995; and
<br />WHEREAS, pursuant to Ordinance No. 94-40, passed on March 1, 1994, as
<br />amended by Ordinance No. 94-77, passed on April 19, 1994, notes in anticipation of bonds in
<br />the amount of $90,000 were issued for the purpose of acquiring motor vehicles, including four
<br />pick-up trucks and three automobiles, for use in carrying out city services and functions, as a
<br />part of a consolidated issue of $13,920,000 Various Purpose Improvement Notes, Series 1994C,
<br />dated June 22, 1994, which notes were retired at maturity with the proceeds of $90,000 notes
<br />(the 1995C Notes) issued in anticipation of bonds pursuant to Ordinance No. 95-82, passed on
<br />June 6, 1995, as amended by Ordinance No. 95-89, passed on June 6, 1995, as a part of a
<br />consolidated issue of $35,310,000 Various Purpose Improvement Notes, Series 1995, dated June
<br />22, 1995; and
<br />WHEREAS, the 1995A Notes, the 1995B Notes and the 1995C Notes were retired
<br />at maturity with the proceeds of $1,045,000 notes (the Outstanding Notes) issued in anticipation
<br />of bonds pursuant to Ordinance No. 96-78, passed on May 9, 1996, as a part of a consolidated
<br />issue of $42,435,000 Various Purpose Improvement Notes, Series 1996, dated June 19, 1996,
<br />which Outstanding Notes are to mature on December 19, 1996; and
<br />WHEREAS, this Council finds and determines that the City should issue the Bonds
<br />described in Section 2 to provide funds to retire the Outstanding Notes and up to an additional
<br />$20,000 to pay financing costs in connection therewith; and
<br />WHEREAS, the Director of Finance, as fiscal officer of this City, has certified to
<br />this Council that the estimated life or period of usefulness of the vehicles and equipment
<br />described in Section 2 is five years and that the maximum maturity of the Bonds described in
<br />Section 2 is five years;
<br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North
<br />Olmsted, Cuyahoga County, Ohio, that:
<br />Section 1. Definitions and Interpretations. In addition to the words and terms
<br />elsewhere defined in this ordinance, unless the context or use clearly indicates another or
<br />different meaning or intent:
<br />"Annual Information" means annual financial information and operating data of the
<br />type to be specified in the Continuing Disclosure Certificate in accordance with the Rule.
<br />"Authorized Denominations" means (a) with respect to Capital Appreciation Bonds,
<br />if any, the denomination equal to the original principal amount that, when interest is accrued and
<br />compounded thereon on each Interest Accretion Date to the stated maturity of those Bonds, will
<br />equal a Maturiry Amount of $5,000 or any integral multiple thereof and (b) with respect to
<br />Current Interest Bonds, the denomination of $5,000 or any integral multiple thereof.
<br />"Bond proceedings" means, collectively, this ordinance, the Certificate of Award,
<br />the Continuing Disclosure Certificate and such other proceedings of the Ciry, including the
<br />Bonds, that provide collectively for, among other things, the rights of holders and beneficial
<br />owners of the Bonds.
<br />"Bond Register" means all books and records necessary for the registration, exchange
<br />and transfer of Bonds as provided in Section 5.
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<br />D03: [00523. DOCS. NOR05228] BOND_ORDINANCE_MOTOR_VEH_$815.
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