Ordinance 2015-082 - Laserfiche WebLink

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"Refunded Bonds" means the $340,000 of the Series 2006T Bonds that are stated to mature on December 1 in each of the years from 2017 through 2021. "Registrar Agreement" means the Bond Registrar Agreement between the City and the Bond Registrar, as it may be modified from the form on file with the Clerk of Council and signed by the Mayor and the Director of Finance in accordance with Section 4. "Rule"means Rule 15c2-12 prescribed by the SEC pursuant to the Securities Exchange Act of 1934. "SEC"means the Securities and Exchange Commission. "Series 2006T Bond Legislation" means Ordinance No. 2006-39, passed by this Council on February 21, 2006, and the related certificate of award dated April 21, 2006, signed by the Mayor and the Director of Finance pursuant thereto, authorizing the issuance and sale of the Series 2006T Bonds. "Series 2006T Bonds" means the $840,000 of Street Improvement Bonds, Series 2006T, issued pursuant to the Series 2006T Bond Legislation as a part of a consolidated issue of $7,775,000 Capital Improvement and Refunding Bonds, Series 2006A, dated as of May 3, 2006. The captions and headings in this ordinance are solely for convenience of reference and in no way define, limit or describe the scope or intent of any Sections, subsections, paragraphs, subparagraphs or clauses hereof. Reference to a Section means a section of this ordinance unless otherwise indicated. Section 2. Authorized Principal Amount and Purpose; Application of Proceeds. It is necessary to issue bonds of this City in a maximum aggregate principal amount of$340,000 (the Bonds) to refund at a lower overall interest cost the Refunded Bonds, which Refunded Bonds were issued for the purpose of improving (i) Lorain Road from Canterbury Road easterly to the easterly corporation line, in cooperation with the Ohio Department of Transportation, by preparing the surface, surfacing and resurfacing and replacing curb ramps, where necessary, and (ii) Carriage Lane, Dryden Drive, Keats Drive, Lydgate Drive, Tennyson Lane, North Court and South Court by preparing the surface, adjusting manholes and catch basins, surfacing and resurfacing and replacing curb ramps, where necessary, in each case together with the necessary appurtenances and work incidental thereto, and to pay expenses related to that refunding and to the issuance of the Bonds. Subject to the limitations set forth in this ordinance, the aggregate principal amount of the Bonds to be issued,the principal maturities of and the principal payment schedule for the Bonds, the interest rate or rates that the Bonds shall bear and certain other terms and provisions of the Bonds identified in this ordinance are subject to further specification or determination by the Mayor and the Director of Finance in the Certificate of Award upon the finalization of the terms and provisions of the Bonds. The aggregate principal amount of Bonds to be issued, as so specified in the Certificate of Award, shall be the amount determined by the Mayor and the Director of Finance to be necessary, taking into account any premium above or discount from the aggregate principal amount of the Bonds at which they are sold to the Original Purchaser, to carry out the purpose for - 5 -