2016-102 Ordinance - Laserfiche WebLink

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Closing Date shall be deemed to be the immediately preceding Interest Accretion Date and the principal amount of that Bond shall be deemed to be the Compound Accreted Amount on the Closing Date. "Continuing Disclosure Agreement" means the continuing disclosure agreement to be signed by the Mayor and the Director of Finance pursuant to subsection (c) of Section 6, to be substantially in the form on file with the Clerk of Council, and which, together with the agreements of the City set forth in that subsection and the Bonds, shall constitute the continuing disclosure agreement made by the City for the benefit of holders and beneficial owners of the Bonds in accordance with the Rule. "Current Interest Bonds" means those Bonds designated as such in the Certificate of Award, all of which shall bear interest payable on each Interest Payment Date. "Depository" means any securities depository that is a clearing agency under federal law operating and maintaining, with its Participants or otherwise, a book entry system to record ownership of book entry interests in Bonds or the principal of and interest on Bonds, and to effect transfers of Bonds, in book entry form, and includes and means initially The Depository Trust Company (a limited purpose trust company), New York, New York. "Escrow Agreement" means the Escrow Agreement between the City and the Escrow Trustee, as it may be modified from the form on file with the Clerk of Council and signed by the Mayor and Director of Finance in accordance with Section 8 of this ordinance. "Escrow Fund" means the City of North Olmsted Refunded Series 2006D Bonds Escrow Fund established pursuant to Section 9 of this ordinance. "Escrow Trustee" means U.S. Bank National Association, as the initial escrow trustee with respect to the Refunded Bonds under the Escrow Agreement and until a successor Escrow Trustee shall have become such pursuant to the provisions of the Escrow Agreement and, thereafter, "Escrow Trustee" shall mean the successor Escrow Trustee. "Interest Accretion Dates" means, as to any Capital Appreciation Bonds, June 1 and December 1 in each year during which any Capital Appreciation Bonds are outstanding, commencing June 1, 2017, or such other date not later than December 1, 2017 as may be specified by the Mayor and the Director of Finance in the Certificate of Award. "Interest Payment Dates" means (a) as to Current Interest Bonds, June 1 and December 1 of each year during which the Current Interest Bonds are outstanding, commencing June 1, 2017, or such other date not later than December 1, 2017 as may be specified by the Mayor and the Director of Finance in the Certificate of Award and (b) as to any Capital Appreciation Bonds, their respective maturity dates. "Maturity Amount" means, with respect to a Capital Appreciation Bond, the principal of and interest on that Bond due and payable at its stated maturity. -4-