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Ordinance 2015-086
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Ordinance 2015-086
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10/8/2015 5:41:46 PM
Creation date
10/8/2015 5:29:18 PM
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North Olmsted Legislation
Legislation Number
2015-86
Legislation Date
10/6/2015
Year
2015
Legislation Title
Refunded Bonds Police Station Improvements
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"Authorized Denominations" means (a) with respect to Capital Appreciation Bonds, if <br /> any, a denomination equal to a principal amount that, when interest is accrued and compounded <br /> thereon at the applicable compounding interest rate on each Interest Accretion Date to the stated <br /> maturity of those Bonds, will result in a Maturity Amount equal to $5,000 or any whole multiple <br /> thereof and (b) with respect to Current Interest Bonds, a denomination of $5,000 or any whole <br /> multiple thereof. <br /> "Bond proceedings" means, collectively, this ordinance, the Certificate of Award, the <br /> Continuing Disclosure Agreement,the Registrar Agreement and such other proceedings of the City, <br /> including the Bonds, that provide collectively for, among other things, the rights of holders and <br /> beneficial owners of the Bonds. <br /> "Bond Register" means the books and records necessary for the registration, exchange <br /> and transfer of the Bonds maintained by the Bond Registrar as provided in Section 5. <br /> "Bond Registrar" means The Huntington National Bank, Columbus, Ohio, as the initial <br /> authenticating agent, bond registrar, transfer agent and paying agent for the Bonds under the <br /> Registrar Agreement and until a successor Bond Registrar shall have become such pursuant to the <br /> provisions of the Registrar Agreement and, thereafter, "Bond Registrar" shall mean the successor <br /> Bond Registrar. <br /> "Book entry form" or"book entry system" means a form or system under which (a)the <br /> ownership of book entry interests in Bonds and the principal of and interest on Bonds may be <br /> transferred only through a book entry, and (b) physical Bond certificates in fully registered form are <br /> issued by the City only to a Depository or its nominee as registered owner, with the Bonds <br /> deposited with and retained in the custody of the Depository or its agent. The book entry <br /> maintained by others than the City is the record that identifies the owners of book entry interests in <br /> those Bonds and that principal and interest. <br /> "Capital Appreciation Bonds"means any Bonds designated as such in the Certificate of <br /> Award, maturing on the Principal Payment Dates, being in the principal amounts and having the <br /> Maturity Amounts set forth in the Certificate of Award, and bearing interest accrued and <br /> compounded on each Interest Accretion Date and payable at maturity. <br /> "Certificate of Award"means the certificate to be signed by the Mayor and the Director <br /> of Finance pursuant to subsection(a) of Section 6, setting forth and determining those terms or other <br /> matters pertaining to the Bonds and their issuance, sale and delivery as this ordinance requires or <br /> authorizes to be set forth or determined therein. <br /> "Closing Date" means the date of physical delivery of, and payment of the purchase <br /> price for,the Bonds. <br /> "Code"means the Internal Revenue Code of 1986, the Regulations (whether temporary <br /> or final) under that Code or the statutory predecessor of that Code, and any amendments of, or <br /> successor provisions to, the foregoing and any official rulings, announcements, notices, procedures <br /> and judicial determinations regarding any of the foregoing, all as and to the extent applicable. <br /> - 2 - <br />
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