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10118-11 Authorizing Sewage Works Revenue Bonds
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10118-11 Authorizing Sewage Works Revenue Bonds
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10/7/2011 5:58:42 PM
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10/7/2011 5:58:38 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
9/12/2011
Ord-Res Number
10118-11
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execution and delivery of such agreements and instruments are hereby approved. The premium, <br /> if any, for such bond insurance shall be payable from the proceeds of the 2011 Bonds. <br /> SECTION 26. Rates and Charges. The estimate of rates and charges which will be <br /> needed and charged to the general classes of users of property to be served by the Sewage Works <br /> in order to provide sufficient moneys to make payments of principal and interest on the 2011 <br /> Bonds, along with the other payments identified in this Ordinance, is set forth in Ordinance No: <br /> 10019-10, adopted by the Common Council on June 28, 2010. <br /> SECTION 27. Holida�, Etc. If the date of making any payment or the last date for <br /> performance of any act or the exercising of any right, as provided in this Ordinance, shall be a <br /> legal holiday or a day on which banking institutions in the City or the city in which the Registrar <br /> or Paying Agent is located are typically closed, such payment may be made or act performed or <br /> right exercised on the next succeeding day not a legal holiday or a day on which such banking <br /> institutions are typically closed, with the same force and effect as if done on the nominal date <br /> provided in this Ordinance, and no interest shall accrue for the period after such nominal date. <br /> SECTION 28. Effectiveness. This Ordinance shall be in full force and effect from and <br /> after its passage, provided, the provisions of the ordinances pursuant to which the Prior Bonds <br /> were issued shall remain in effect and shall supersede the provisions of this Ordinance in the <br /> event of any conflict with this Ordinance until such time as the Priar Bonds are all defeased on <br /> paid in fu1L <br /> SECTION 29. Notice of Ado„ption and Purport of this Ordinance. Upon passage of this <br /> Ordinance, the Clerk of the City shall immediately cause to be published in accordance with <br /> Indiana Code 5-3-1, a notice of the adoption and purport of this Ordinance in accordance with <br /> Indiana Code Section 36-9-23-10. In the event that any objecting petition is filed in accordance <br /> with Indiana Code Section 36-9-23-12, no further proceedings shall be taken by the City relating <br /> to the Project until the later of(i)the date on which the court having jurisdiction over such matter <br /> confirms the decision of the City to issue bonds relating to the Project, or (ii) if an appeal is <br /> taken, the date on which the appropriate court of last resort confirms the decision of the City to <br /> issue bonds relating to the Project, except as permitted by Indiana Code Section 36-9-23-12(�. <br /> SECTION 30. Actions and A�reements. Each of the Mayor, the Controller and any <br /> other officer or employee of the City is hereby authorized and directed to execute any <br /> instruments or agreements or take any other actions necessary or desirable to effect the <br /> transactions contemplated by this Ordinance, such necessity or desirability to be conclusively <br /> evidenced by the execution of such instruments or agreements or the taking of such action. <br /> - 22 - <br />
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