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2020-135 Ordinance
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2020-135 Ordinance
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1/6/2021 3:54:24 PM
Creation date
1/6/2021 2:13:26 PM
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North Olmsted Legislation
Legislation Number
2020-135
Legislation Date
12/22/2020
Year
2020
Legislation Title
City Hall Improvement Bonds
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"Maturity Amount" means, with respect to a Capital Appreciation Bond, the principal <br />of and interest on that Bond due and payable at its stated maturity. <br />"Municipal Advisor" means MAS Financial Advisory Services LLC. <br />"Original Purchaser" means Fifth Third Securities, Inc., Cincinnati, Ohio. <br />"Participant" means any participant contracting with a Depository under a book entry <br />system and includes securities brokers and dealers, banks and trust companies, and clearing <br />corporations. <br />"Principal Payment Dates" means, unless otherwise determined by the Mayor and the <br />Director of Finance and specified in the Certificate of Award, December I in each of the years from <br />2022 through 2031. <br />"Purchase Agreement" means the Bond Purchase Agreement between the City and the <br />Original Purchaser, as it may be modified from the form on file with the Clerk of Council and <br />signed by the Mayor and the Director of Finance in accordance with Section 6. <br />"Registrar Agreement" means the Bond Registrar Agreement between the City and the <br />Bond Registrar, as it may be modified from the form on file with the Clerk of Council and signed by <br />the Mayor and the Director of Finance in accordance with Section 4. <br />Act of 1934. <br />"Rule" means Rule 15c2-12 prescribed by the SEC pursuant to the Securities Exchange <br />"SEC" means the Securities and Exchange Commission. <br />"Term Bonds" means those Current Interest Bonds designated as such and stated to <br />mature on the Principal Payment Date or Dates set forth in the Certificate of Award, bearing interest <br />payable on each Interest Payment Date and subject to mandatory sinking fund redemption. <br />The captions and headings in this ordinance are solely for convenience of reference and <br />in no way define, limit or describe the scope or intent of any Sections, subsections, paragraphs, <br />subparagraphs or clauses hereof. Reference to a Section means a section of this ordinance unless <br />otherwise indicated. <br />Section 2. Authorized Principal Amount and Purpose; Application of Proceeds. It is <br />necessary to issue bonds of this City in a maximum aggregate principal amount of $175,000 (the <br />Bonds) to provide funds to pay costs of renovating, rehabilitating, remodeling, furnishing, <br />equipping and otherwise improving the City Hall, together with necessary appurtenances and work <br />incidental thereto, including financing costs related to the issuance of the Bonds, and to retire the <br />Outstanding Note. <br />-4- <br />
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