My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Improvements to Municipal Sewage Works Issurance of Revenue Bonds $15,075,000
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
2013
>
Improvements to Municipal Sewage Works Issurance of Revenue Bonds $15,075,000
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/24/2013 2:54:09 PM
Creation date
4/16/2013 11:41:00 AM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
4/8/2013
Ord-Res Number
10226-13
Bill Number
12-13
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
33
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
modifications and amendments. Notwithstanding anything contained in the foregoing provisions <br />of this Ordinance, the rights and obligations of the City and of the owners of the 2013A Bonds, <br />and the terms and provisions of the 2013A Bonds and this Ordinance, or any supplemental <br />ordinance, may be modified or altered in any respect with the consent of the City and the consent <br />of the owners of all the 2013A Bonds then outstanding. <br />SECTION 23. Amendments Without Consent of Bondholders. Without notice to or <br />consent of the owners of the 2013A Bonds, the City may, from time to time and at any time, <br />adopt such ordinances supplemental hereto as shall not be inconsistent with the terms and <br />provisions hereof (which supplemental ordinances shall thereafter form a part hereof), <br />(a) to cure any ambiguity or formal defect or omission in this Ordinance or in <br />any supplemental ordinance; or <br />(b) to grant to or confer upon the owners of the 2013A Bonds any additional <br />rights, remedies, powers, authority or security that may lawfully be granted to or conferred upon <br />the owners of the 2013A Bonds; or <br />(c) to procure a rating on the 2013A Bonds from a nationally recognized <br />securities rating agency designated in such supplemental ordinance, if such supplemental <br />ordinance will not adversely affect the owners of the 2013A Bonds; or <br />(d) to make any other change which is not to the prejudice of the owners of <br />the 2013A Bonds; or <br />(e) to provide for the refunding or advance refunding of the 2013A Bonds. <br />SECTION 24. Tax Matters. In order to preserve the exclusion of interest on the 2013A <br />Bonds from gross income for federal income tax purposes and as an inducement to purchasers of <br />the 2013A Bonds, the City represents, covenants and agrees that: <br />(a) No person or entity, other than the City or another state or local <br />governmental unit, will use proceeds of the 2013A Bonds or property financed by the 2013A <br />Bond proceeds other than as a member of the general public. No person or entity other than the <br />City or another state or local governmental unit will own property financed by 2013A Bond <br />proceeds or will have actual or beneficial use of such property pursuant to a lease, a management <br />or incentive payment contract, an arrangement such as take -or -pay or output contract, or any <br />other type of arrangement that differentiates that person's or entity's use of such property from <br />the use by the public at large. <br />(b) No 2013A Bond proceeds will be loaned to any entity or person other than <br />a state or local governmental unit. No 2013A Bond proceeds will be transferred, directly or <br />indirectly, or deemed transferred to a non - governmental person in any manner that would in <br />substance constitute a loan of the 2013A Bond proceeds. <br />(c) The City will not take any action or fail to take any action with respect to <br />the 2013A Bonds that would result in the loss of the exclusion from gross income for federal <br />income tax purposes of interest on the 2013A Bonds pursuant to Section 103 of the Code, and <br />-19- <br />
The URL can be used to link to this page
Your browser does not support the video tag.