2022-078 Ordinance - Laserfiche WebLink

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"Debt charges" means the principal of and interest on the Notes. "Debt Retircmcnt Fund" means the Debt Retirement bund established pursuant to Section 9. -Nontax Revenues' means all money of the City that is not money raised by taxation. to the extent mailable for deposit in the Debt Retirement bund as provided in this Ordinance. including. but not limited to the following: (a) grants t,rom the United Slates of America and the State of Ohio; (b) payments in lieu of taxes novo or hereafter authorized by State statute to the extent not pledged to pay debt charges on other City indebtedness: (c) lines and forfeitures that are deposited in the City s General Fund: (d) fees deposited in the City's Cicncral Fund front properly imposed licenses and permits (c) im�eslment earnings on the City s Cicncral Fund and that are credited to the City's General Fund: (t) imrestntenl earnings on other funds of the City that are credited to the Citys General Fund: (g) proceeds from the sale of assets that are deposited in the City s Cicncral Fund: (h) rental income that is deposited in the Citys Cicncral Ivnd: (i) gifts and donations: and (j) Project Revenues. "Notes' nicatts the City's economic development revenue bond anticipation notes described in and the issuance of which is authorized by Section 2. "Original Purchaser"' means the anginal purchaser designated by the Director of Finance in the Cerli Beate of Award. "Parity Obligations" means any bonds, notes or other obligations of or gumintics by the City payable from Nontax Revenues on a parity with or prior to the Notes. "Pledged Nontax Revenues, means (i) all Project Revenues (ii) proceeds of the Notes otherwise to be available to pap debt charges on the Notes. (iii) proceeds of Bonds issued to retire the Notes, (iv) all money in the Debt Retirement Fund and (e) all income and profit fi-ont the investment of the foregoing money. `Project Revenues" means any revenues, payments, repayments, and moneys derived from the Project. including any proceeds from the sale of all or a portion of -the Property. "Year' means the calendar year, unless otheryise specified. the captions and headings in this Ordinance are solely for convenience of reference and do not define, limit or describe the scope or intent at any provisions or Sections of this Ordinance. Unlcss otherwise indicated, any reference to a Section is a reference to a Section of this Ordinance. Section 2. Detemtinations hti Ciro Council ibis Cir Council finds and determines that: (a) The Project is a "project" as defined in the Act and is consistent with the purposes of Section 13_ Article VIII of the Ohio Constitution and the utilization of the Project is in furtherance