2022-049 Ordinance - Laserfiche WebLink

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NOW, "Il i l iRL'FORIF. BF flORDAIN) 1) by the Council of file City of North Olmsted, County of Cuyahoga. Ohio. that: Section I. Funding of the Optional Redemption of Redeemed Series 2015 Bonds. this Council determines that it is necessary and in the bell interest of the Cit_v to fund the call of the Redeemed Series 2015 Bunds (or optional redemption on Decemher I, 2022. the Director of Finance is authorized and directed to give to file Huntington National Bank_ as the authenticating agent, bond registrar, transfer agent and paying agent for the Series 2015 Bonds (the 2015 Bond Registrar), timely written notice of the call lox optional redemption of the Redeemed Series 2015 Bonds. I he Redeemed Series 201 s Bonds shall be redeemed in accordance with the Original 2015 Bond Legislation. The C'ily covenants for the benefit of the holders of the Redeemed Series 2015 Bonds that it will at no time on or after November I, 2022 take actions to modifv or rescind the call for prior redemption of the Redeemed Series 2015 Bonds, and that it will take, and will cause the 2015 Bond Registrar to take, all steps required by the terms of the Redeemed Series 2015 Bonds to make and perfect that call for prior redemption, file Director of Finance is hereby authorized and directed to pay to the 2015 Bond Registrar on or before December 1. 2022. funds available for the payment of principal of and interest on the Redeemed Series 2015 Bonds. the funds so paid to the 2015 Bond Registrar are appropriated and shall be applied to pay the principal of and interest on the Redeemed Series 2015 Bonds. Section 2. PwYher Authorizations. l'hc Mayor, the Uireclor of Finance, the Director of Iaw. the Clerk of Council and other City oBicials. as appropriate. each and all, are authorized and directed to sign any certificates, statements and other documents and instruments and to take such actions as are necessan or appropriate to consummate the transactions contemplated by this Ordinance. Section 3. Professional Services. "Ihe Director of finance is hereby authorized and directed to provide Ibr the payment of the services rendered and for reimbursement of expenses incurred, including such services of the Car's bond counsel as may be required to effeet the transactions contemplated by this Ordinance from funds lawfully available and that are appropriated, or will be appropriated, for that purpose. Section 4. Certification and Delivers of Ordinance to County Fiscal Offices file Clerk of Council is authorized and directed to deliver or cause to he delivered a certified copy of' this Ordinance to the Cuyahoga County Fiscal Oflicer. Section 5. prior Acts Ratified and Confirmed. Am' actions previously taken by City officials or agents of the City in furtherance of the matters set forth in this Ordinance are hereby approved. ratified and confirmed. Section (i. Compliance with Open Meetin_RequiremeIlls . 'Ibis Council finds and determines that al I formal actions of tlii s C'owtci I and of any of its committal concerning and relating to the passage of this Ordinance were taken in an open meeting of Ibis Council or committees. and