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9603-05 Authorizing the Issuance of Revenue Bonds - Concerning the Construction of Improvements to the Municipal Waterworks - not to exceed $4,710,000
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9603-05 Authorizing the Issuance of Revenue Bonds - Concerning the Construction of Improvements to the Municipal Waterworks - not to exceed $4,710,000
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Last modified
12/13/2010 10:32:41 AM
Creation date
2/12/2008 1:46:10 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
7/25/2005
Ord-Res Number
9603-05
Bill Number
39-05
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(b) The Executive and the Fiscal Officer may take such other actions or <br />deliver such other certificates and documents needed for the Project or the financing as they <br />deem necessary or desirable in connection therewith. <br />SECTION 26. Rate Ordinance. The rates and charges of the works are set forth <br />or described in an ordinance adopted by the Council on the date of adoption of this Ordinance. <br />Such ordinance is hereby incorporated by reference as if set forth in full at this place, two copies <br />of which are on file and available for public inspection in the office of the City Clerk pursuant to <br />I.C. §36-1-5-4. <br />SECTION 27. Non-Business Days. If the date of making any payment or the <br />last date for performance of any act or the exercising of any right, as provided in this Ordinance, <br />shall be a legal holiday or a day on which banking institutions in the City or the jurisdiction in <br />which the Registrar or Paying Agent is located are typically closed, such payment may be made <br />or act performed or right exercised on the next succeeding day not a legal holiday or a day on <br />which such banking institutions are typically closed, with the same force and effect as if done on <br />the nominal date provided in this Ordinance, and no interest shall accrue for the period after such <br />nominal date. <br />SECTION 28. No Conflict. The Council hereby finds and determines that the <br />adoption of this Ordinance and the issuance of the 2005 Bonds is in compliance with the Prior <br />Ordinances. The Prior Ordinances shall remain in full force and effect except as otherwise <br />provided in Section 14 of this Ordinance. All ordinances and resolutions and parts thereof in <br />conflict herewith, except the Prior Ordinances (except as provided in Section 14 hereof), are to <br />the extent of such conflict hereby repealed. None of the provisions of this Ordinance shall be <br />construed to adversely affect the rights of the owners of the Parity Bonds. <br />SECTION 29. Severability. If any section, paragraph or provision of this <br />Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or <br />unenforceability of such section, paragraph or provision shall not affect any of the remaining <br />provisions of this Ordinance. <br />SECTION 30. Interpretation. Unless the context or laws clearly require <br />otherwise, references herein to statutes or other laws include the same as modified, supplemented <br />or superseded from time to time. <br />SECTION 31. Effectiveness. This Ordinance shall be in full force and effect <br />from and after its passage and compliance with the procedures required by law. <br />SECTION 32. Credit Facility. The Executive and the Fiscal Officer, on behalf <br />of the City, are hereby authorized to obtain a Credit Facility as set forth in the Section 14 herein. <br />The Executive and the Fiscal Officer, on behalf of the City, are also authorized to enter into an <br />agreement with the Credit Facility Issuer (the Credit Facility Agreement") and negotiate the <br />terms of the Credit Facility Agreement, with the advice of the City's financial advisor and Bond <br />Counsel. The Executive and the Fiscal Officer, on behalf of the City, are also authorized to <br />execute any and all other documents required to obtain the Credit Facility. The City hereby <br />agrees that: <br />-29- <br />
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