My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
10134-11 Waterworks Revenue Bonds $8,300,000
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
2011
>
10134-11 Waterworks Revenue Bonds $8,300,000
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
12/2/2011 12:45:20 PM
Creation date
12/2/2011 12:45:17 PM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/28/2011
Ord-Res Number
10134-11
Bill Number
70-11
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
38
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
(c) The Executive and the Fiscal Officer each are hereby authorized to deem <br /> final an official statement with respect to the 2012 Bonds, as of its date, in accordance with the <br /> provisions of Rule 15c2-12 of the U.S. Securities and Exchange Commission, as amended (the <br /> "SEC Rule"), subject to completion as permitted by the SEC Rule, and the City further <br /> authorizes the distribution of the deemed final official statement, and the execution, delivery and <br /> distribution of such document as further modified and amended with the approval of the <br /> Executive or the Fiscal Officer in the form of a final official statement. <br /> In order to assist any underwriter of the 2012 Bonds in complying with paragraph (b)(5) <br /> of the SEC Rule by undertaking to make available appropriate disclosure about the City and the <br /> 2012 Bonds to participants in the municipal securities market, the City hereby covenants, agrees <br /> and undertakes, in accordance with the SEC Rule, unless excluded from the applicability of the <br /> SEC Rule or otherwise exempted from the provisions of paragraph (b)(5) of the SEC Rule, that it <br /> will comply with and carry out all of the provisions of the continuing disclosure contract. <br /> "Continuing disclosure contract" shall mean that certain continuing disclosure contract executed <br /> by the City and dated the date of issuance of the 2012 Bonds, as originally executed and as it <br /> may be amended from time to time in accordance with the terms thereof. The execution and <br /> delivery by the City of the continuing disclosure contract, and the performance by the City of its <br /> obligations thereunder by or through any employee or agent of the City, are hereby approved, <br /> and the City shall comply with and carry out the terms thereof. <br /> (d) The Fiscal Officer is hereby authorized and directed to obtain a legal <br /> opinion as to the validity of the 2012 Bonds from Barnes & Thornburg LLP, and to furnish such <br /> opinion to the purchasers of the 2012 Bonds or to cause a copy of said legal opinion to be printed <br /> on each 2012 Bond. The cost of such opinion shall be paid out of the proceeds of the 2012 <br /> Bonds. <br /> (e) In connection with the sale of the 2012 Bonds, the Executive and the <br /> Fiscal Officer each are authorized to take such actions and to execute and deliver such agreements <br /> and instruments as they deem advisable to obtain a rating and/or to obtain bond insurance for the <br /> 2012 Bonds, and the taking of such actions and the execution and delivery of such agreements and <br /> instruments are hereby approved. <br /> SECTION 11. Use of Proceeds. The accrued interest received at the time of delivery of <br /> the 2012 Bonds, if any, and premium, if any, shall be deposited in the Bond and Interest Account <br /> of the Sinking Fund (as hereafter defined) and applied to payments on the 2012 Bonds on the <br /> first interest payment date. An amount of proceeds from the sale of the 2012 Bonds of any <br /> Series equal to the amount described in Section 14(b) will be deposited to the 2012 Subaccount <br /> of the Debt Service Reserve Account for the 2012 Bonds of such Series and applied as described <br /> below. The remaining proceeds from the sale of the 2012 Bonds,to the extent not used to refund <br /> BANs issued pursuant to this Ordinance, shall be deposited in a fund of the utility hereby created <br /> and designated as "City of South Bend, Indiana Waterworks 2012 Bond Construction Fund" (the <br /> "Construction Fund"). The proceeds deposited in the Construction Fund, together with all <br /> investment earnings thereon, shall be expended only for the purpose of paying the costs of the <br /> Project and the costs of selling and issuing the 2012 Bonds, including the premium for any bond <br /> insurance obtained for the 2012 Bonds. <br /> - 17 - <br />
The URL can be used to link to this page
Your browser does not support the video tag.