2016-113 Ordinance - Laserfiche WebLink

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2027. "Principal Payment Dates" means December 1 in each of the years from 2018 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. "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. Act of 1934. "Rule" means Rule 15c2-12 prescribed by the SEC pursuant to the Securities Exchange "SEC" means the Securities and Exchange Commission. "Term Bonds" means those Current Interest Bonds designated as such and maturing on the Principal Payment Date or Dates set forth in the Certificate of Award, bearing interest payable on each Interest Payment Date and subject to mandatory sinking fund redemption. 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 $720,000 (the Bonds) to provide funds to pay costs of improving the City's sanitary sewer system by renovating, re-equipping and otherwise improving the Bradley Road Pump Station and its site, together with all necessary appurtenances and work incidental thereto, including financing costs related 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 discount from the aggregate principal amount of the Bonds at which they are sold to the Original Purchaser, to carry out the purpose for which the Bonds are to be issued.