2022-078 Ordinance - Laserfiche WebLink

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the transactions contemplated by this Ordinance, and all actions heretofore taken by these oflicers and officials in connection with the Project and the Notes are hereby certified. ratified and approved. (b) Note Purchase Aerecntent. If the Director of Finance and the Original Purchaser determine to use a Note Purchase Agreanent_ then the Mayor and the Director of finance may sign and deliver, in the name and on behalf of the City. the Note Purchase Agreement between the Cityand the Original Purchaser (the Note Purchase Agreement), in substantialh the form as is now on file with the Clerk of Council, providing for the sale to, and the purchase by. the Original Purchaser of the Notes. I he Note Purchase Agreement is approved, together with any changes or amendments that are not inconsistent with this ordinance and not substantially adverse to the City and that arc approved by the Director of Finance on behalf of the City, all of which shall be conclusively evidenced by the signing of the Note Purchase Agreement or amendments- thereto. (e) Application for Ratina; flnanCmi$ ( osts. the Director of Finance is authorized to (i) engage the services ora municipal advisor and (ii) request a rating lot the Notes from one or more nationally recognized rating services in connection with the sale and issuance of the Notes. the expenditure of the amounts necessary to engage a municipal advisor and/or secure those ratings) and to pay the other financing costs in connection with the Notes is authorized and approved, and the Director of Finance is authorized to provide for the payment of any such amounts and costs front the proceeds of the Notes to the extent available and othervise from any other limds lawfully available that arc appropriated or shall be appropriated for that purpose. (d) Ohio Market Access Prokram. It the Director of Finance determines in the Certificate of Award for it to be in the best interest of financially advantageous to the City, the City shall participate in the Treasurer of State's Ohio Market Access Program. the Standhy Note Purchase Agreement (Standby Note Purchase Agreement) and Paving Agent Agreement (Paring Agent Agreement) are hereby authorized in the forms presented to this Council with such changes not materially adverse to the City as may be approved by the oflicers of the City executing the Standby Note Purchase Agreement and Paying Agent Agreement. The City acknowicdgcs the agreement ol'the l rcasurcr of Slate in the Standby Note Purchase Agreement that, in the crent the City is unable to repay the principal amount and accrued and unpaid interest of the Notes at their maturity.. whether through its own funds or through the issuance of other obligations of the C'.ity. the "IYeasurer of State agrees (A) to purchase the Notes- from the holders or beneficial owners thereof upon their presentation to the Treasurer of Stale for such purchase at a price of par plus accrued interest to maturity or (B) to purchase renewal notes of the City in a principal amount not greater than the principal amount of the Notes plus interest due at otatw-ity, with such renewal notes hearing interest at the Renewal Note Rate (as defined in the Standby Note Purchase Agreement). maturing not more than one year after the dale of their issuance. and being prepayable at any time with 30 days' notice. provided that in connection with the Treasurer of State's purchase o1'such renewal notes the City shall deliver to the Treasurer of State an unqualified opinion of nationally recognized bond counsel that such renewal notes are the legal, valid and binding special obligations of the City. and the principal of and interest on such renewal notes. unless paid from other sources, are to lie