2016-108 Ordinance - Laserfiche WebLink

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2021. "Principal Payment Dates" means December 1 in each of the years from 2017 through "Purchase Agreement" means the Bond Purchase Agreement between the City and the Original Purchaser, 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 6. "Refunded Bonds" means the $178,000 of the Series 2006M 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 2006M Bond Legislation" means Ordinance No. 2006-32, passed by this Council on February 21, 2006, as amended by Ordinance No. 2006-109 passed by this Council on May 16, 2006, and the related certificate of award dated June 20, 2006, signed by the Mayor and the Director of Finance pursuant thereto, authorizing the issuance and sale of the Series 2006M Bonds. "Series 2006M Bonds" means the $305,000 Storm Water Drainage System Improvement Refunding Bonds, Series 2006M, issued pursuant to the Series 2006M Bond Legislation as a part of a consolidated issue of $19,645,000 Capital Improvement Refunding Bonds, Series 2006C, dated as of June 29, 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 $178,000 (the Bonds) to currently refund for debt service savings the Refunded Bonds, which Refunded Bonds were issued to provide funds for the purpose of advance refunding at a lower interest cost certain of the City's then outstanding Storm Water Drainage System Improvement Bonds, Series 2001, which were issued as a part of the consolidated issue of $12,430,000 Capital Improvement and Refunding Bonds, Series 2001, dated as of May 1, 2001, were stated to mature on December 1 in each of the years from 2013 through 2016 and 2021 and were issued for the purpose of improving the City's storm water drainage system by constructing, reconstructing and otherwise improving storm sewers and other storm water drainage facilities, together with the necessary appurtenances and work incidental thereto, and to pay expenses related to that refunding and to the issuance of the Bonds. -5-