2020-141 Ordinance - Laserfiche WebLink

Home Browse Search

"Original Purchaser" means Fifth Third Securities, Inc., Cincinnati, Ohio. "Participant" means any participant contracting with a Depository under a book entry system and includes securities brokers and dealers, banks and trust companies, and clearing corporations. "Principal Payment Dates" means, unless otherwise determined by the Mayor and the Director of Finance and specified in the Certificate of Award, December 1 in each of the years from 2022 through 2031. "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. "Rule" means Rule 15c2-12 prescribed by the SEC pursuant to the Securities Exchange Act of 1934. "SEC" means the Securities and Exchange Commission. "Term Bonds" means those Current Interest Bonds designated as such and stated to mature 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 $1,000,000 (the Bonds) to provide funds to pay costs of improving, in cooperation with the County of Cuyahoga or otherwise, Canterbury Road, Elm Road, Lynhaven Drive, Park Ridge Drive, Pebblebrook Lane, Sandpiper Lane and Walnut Lane between certain termini in the City, by reconstructing and rehabilitating the pavement base, adjusting, constructing and reconstructing catch basins, curbs and curb ramps, manholes and utility valve and monument boxes, where necessary, preparing the surface and resurfacing, in each case together with 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