10-26-09 Common Council Meeting Agenda & Packet

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Registrar believes such publication is impractical or unlikely to reach a substantial number of the holders of the Bonds, in some other financial newspaper or journal which regularly carries notices of redemption of other obligations similar to the Bonds, such publication to be made at least sixty (60) days prior to the date fixed for redemption. Upon the payment of the redemption price of the Bonds (or portions thereof) being redeemed and if so directed by the City, each check or other transfer of funds issued for such purpose shall bear the CUSIP number identifying, by issue and maturity, the Bonds (or portions thereof) being redeemed with the proceeds of such check or other transfer. Section 3. Subsection (a) of the section of the Bond Ordinance labeled Section VIII. Issuance, Sale and Delivery of the Bonds is amended to read as follows: (a) Generally. The Controller is hereby authorized and directed to have the Bonds prepared, and the Mayor, the Controller and the Clerk are each hereby authorized and directed to execute, and attest as appropriate, the Bonds in the form and manner herein provided. The Controller is hereby authorized and directed to deliver the Bonds to the purchaser or purchasers thereof after sale made and in accordance with the provisions of the Act and this Ordinance, provided that at the time of said delivery the Controller shall collect the full amount which the purchaser or purchasers have agreed to pay therefor, which shall be not less than ninety-eight percent (98%) of the par amount of the series of the Bonds being sold (or such higher percentage of the par value of such series of the Bonds as the Controller, with the advice of the financial advisor of the City, shall determine) plus accrued interest thereon to the date of delivery, if any. The City may receive payment for the Bonds in installments. The proceeds derived from the sale of the Bonds shall be and are hereby set aside for application to the costs of the Project, and including all authorized costs relating thereto, including the costs of issuance of the Bonds. The authorized officers of the City are hereby authorized and directed to draw all proper and necessary warrants and to do whatever other acts and things that may be necessary or appropriate to carry out the provisions of this Ordinance. Section 4. The section of the Bond Ordinance labeled Section VIII. Issuance, Sale and Delivery of the Bonds shall be amended to include new subsections (d) and (e) as follows: (d) Sale to the Indiana Bond Bank. The Bonds may, in the discretion of the Controller, be sold to the Bond Bank. In the event of such . determination, Bonds shall be sold to the Bond Bank at a price not less than 97.5% of the var value of the Bonds or such higher percentage of the par value of the Bonds as may be set forth in the Purchase Agreement (defined herein) and in such denomination or denominations as the Bond Bank may request and pursuant to a purchase agreement (the "Purchase Agreement") between the City and the Bond Bank, hereby authorized to be entered into and executed by the Mayor on behalf of the City, and attested by the Clerk, subsequent to the date of the adoption of this -9- BDDBOI 5863495v1