2020-014 Ordinance - Laserfiche WebLink

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Section 11. If in her judgment it is appropriate, the Director of Finance is authorized to request a rating on the Notes from Moody's Investors Service, Inc., S&P Global Ratings or Fitch IBCA, or two or all of those rating agencies, as she determines is in the best interest of the City. The expenditure of the amounts necessary to secure any such rating or ratings on the Notes and to pay the other financing costs (as defined in Section 133.01 of the Revised Code) in connection with the Notes, to the extent not paid by the original purchaser in accordance with a note purchase agreement, is authorized and approved, and the Director of Finance is authorized to provide for the payment of the cost of obtaining each such rating and all such other financing costs, except to the extent paid by the original purchaser in accordance with a note purchase agreement, from the proceeds of the Notes to the extent available and otherwise from any other funds lawfully available and that are appropriated or shall be appropriated for that purpose. Section 12. The legal services of the law firm of Squire Patton Boggs (US) LLP be and are hereby retained. Those legal services shall be in the nature of legal advice and recommendations as to the documents and the proceedings in connection with the authorization, sale and issuance of the Notes (and the consolidated issue of which they are expected to be a part) and rendering at delivery a related legal opinion, all as set forth in the form of engagement letter dated as of January 7, 2020, now on file in the office of the Clerk of Council. In providing those legal services, as an independent contractor and in an attorney-client relationship, that firm shall not exercise any administrative discretion on behalf of this City in the formulation of public policy, expenditure of public funds, enforcement of laws, rules and regulations of the State, any county or municipal corporation or of this City, or the execution of public trusts. For those legal services that firm shall be paid just and reasonable compensation and shall be reimbursed for actual out-of-pocket expenses incurred in providing those legal services. The Mayor is authorized and directed to sign and deliver the engagement letter, and the Director of Finance is authorized and directed to make appropriate certification as to the availability of funds for those fees and any reimbursement and to issue an appropriate order for their timely payment as written statements are submitted by that firm. Section 13. The municipal advisory services of MAS Financial Advisory Services, as municipal advisor in connection with the issuance of the Notes, are retained pursuant to an engagement letter which has been delivered to the City by that firm. In rendering those municipal advisory services, as an independent contractor, that firm shall not exercise any administrative discretion on behalf of the City in the formulation of public policy, expenditure of public funds, enforcement of laws, rules and regulations of the State, the City or any other political subdivision, or the execution of public trusts. For those municipal advisory services that firm shall be paid just and reasonable compensation and shall be reimbursed for actual out-of-pocket expenses incurred in providing those services. That engagement letter, and the execution thereof by the Mayor, is hereby authorized, ratified and approved, and the Director of Finance is authorized and directed to make appropriate certification as to the availability of funds for those fees and any reimbursement and to issue an appropriate order for their timely payment as written statements are submitted by that firm. Section 14. The Clerk of Council is directed to deliver to the County Fiscal Officer (i) a certified copy of this ordinance and (ii) a signed copy of the Certificate of Award, as soon as each is available. M