My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
10190-12 Refinance Waterworks revenue of 2002
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
2012
>
10190-12 Refinance Waterworks revenue of 2002
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/12/2012 12:35:11 PM
Creation date
10/12/2012 12:35:02 PM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/8/2012
Ord-Res Number
10190-12
Bill Number
53-12
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
35
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
ti <br /> terms where used in this Ordinance shall be construed to mean and include all structures and <br /> property of the City's waterworks utility. The Project has been constructed in accordance with <br /> the plans and specifications heretofore mentioned, which plans and specifications have <br /> previously been approved. All or a portion of the cost of the Refunding will be paid with the <br /> proceeds of the 2012B Bonds to be issued pursuant to the provisions of this Ordinance and the <br /> Act. The City may also use other legally available funds on hand to pay for the remainder of the <br /> cost of the Refunding the 2002 Bonds. <br /> SECTION 2. Authorization of Obligations. <br /> (a) The City shall issue its "Waterworks Refunding Revenue Bonds of <br /> 2012B" or such other designation as the Executive (as defined below) or the Fiscal Officer (as <br /> defined below) shall determine at the time of issuance of any series of bonds (the "2012B <br /> Bonds"), in one or more series (as designated by the City, a "Series"), in an original principal <br /> amount not to exceed Four Million Two Hundred Thousand Dollars ($4,200,000) (the <br /> "Authorized Amount"), as negotiable, fully registered bonds, for the purpose of procuring funds <br /> to be applied to the costs of the Refunding, and all incidental expenses incurred in connection <br /> therewith (all of which are deemed to be a part of the Refunding), and the costs of selling and <br /> issuing the 2012B Bonds and funding a debt service reserve as described herein. The City <br /> reasonably expects to reimburse expenditures for the Refunding with the proceeds of the 2012B <br /> Bonds and this constitutes a declaration of official intent to reimburse expenditures under Treas. <br /> Reg. 1.150-2(e) and Indiana Code 5-1-14-6(c). The 2012B Bonds shall rank on parity for all <br /> purposes with the Prior Bonds. <br /> The 2012B Bonds shall be issued in denominations of Five Thousand Dollars <br /> ($5,000) or any integral multiple thereof, numbered consecutively from 1 upward, and dated the <br /> date of delivery. The 2012B Bonds shall bear interest at a rate or rates not exceeding five <br /> percent (5%) per annum, and interest shall be payable semiannually on January 1 and July 1 in <br /> each year, with the beginning date of interest payments being finally determined by the Mayor as <br /> the executive of the City (the "Executive") and the Controller as the fiscal officer of the City, or <br /> any acting, assistant or deputy controller of the City (the "Fiscal'Officer"), with the advice of the <br /> City's financial advisor, as evidenced by delivery of the executed initial issue of the 2012B <br /> Bonds to the Registrar for authentication. Interest on the BANs and the 2012B Bonds shall be <br /> calculated according to a 360-day calendar year containing twelve 30-day months. The 2012B <br /> Bonds shall mature on January 1 of each year beginning in the year and in such amounts as is <br /> deemed appropriate by the Executive and the Fiscal Officer, with the advice of the City's <br /> financial advisor, as evidenced by delivery of the executed initial issue of the 2012B Bonds to <br /> the Registrar for authentication, and over a period ending not later than January 1, 2023. <br /> All or a portion of the 2012B Bonds may be aggregated into and issued as one or <br /> more term bonds. The term bonds will be subject to mandatory sinking fund redemption with <br /> sinking fund payments and final maturities corresponding to the serial maturities described <br /> above. Sinking fund payments shall be applied to retire a portion of the term bonds as though it <br /> were a redemption of serial bonds and, if more than one term bond of any maturity is <br /> outstanding, redemption of such maturity shall be made by lot. Sinking fund redemption <br /> payments shall be made in a principal amount equal to such serial maturities, plus accrued <br /> interest to the redemption date, but without premium or penalty. For all purposes of this <br /> - 4 - <br />
The URL can be used to link to this page
Your browser does not support the video tag.