2016-105 Ordinance - Laserfiche WebLink

Home Browse Search

"Principal Payment Dates" means December 1 in each of the years from 2017 through 2020. "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 $261,000 of the Series 2006I Bonds that are stated to mature on December 1 in each of the years from 2017 through 2020. "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 2006I Bond Legislation" means Ordinance No. 2006-28, passed by this Council on February 21, 2006, as amended by Ordinance No. 2006-105 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 20061 Bonds. "Series 20061 Bonds" means the $598,000 Sanitary Sewerage System Improvement Refunding Bonds, Series 20061, issued pursuant to the Series 20061 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 $277,000 (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 Sanitary Sewerage System Improvement Bonds, Series 2000, which were issued as a part of the consolidated issue of $6,845,000 Various Purpose Improvement Bonds, Series 2000, dated as of September 1, 2000, were stated to mature on December 1, 2020 and were issued for the purpose of improving the City's sanitary sewerage system by constructing sanitary sewers, force mains and pumping facilities and by constructing and reconstructing storm sewers and other storm water drainage facilities and improvements to control and limit the volume of storm -5-