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
from the Net Revenues or a combination thereof, and the proceeds received by the City from the <br />sale of the 2013A Bonds and such Net Revenues are hereby irrevocably pledged to the payment <br />of the principal of and interest on the BANs. The Executive is hereby authorized to determine <br />the form of the BANs and to execute the BANs, the Fiscal Officer is hereby authorized to have <br />the BANs prepared, and to attest to the BANs and affix the seal the City or cause a facsimile of <br />the seal of the City to be imprinted or impressed on the BANs. The Fiscal Officer is hereby <br />authorized and directed to obtain the legal opinion as to the validity of the BANs from Barnes & <br />Thornburg LLP. After the BANs shall have been properly executed, the Fiscal Officer shall be <br />authorized to receive from the purchaser thereof payment for the BANs and to provide for <br />delivery of the BANs to the purchaser. The City may receive payment for the BANs in <br />installments. Proceeds received from the sale of the BANs shall be deposited in the funds set <br />forth in Section 11 of this Ordinance. The Fiscal Officer is authorized to sell the BANs to any <br />investor, and to work with the investor to facilitate the sale of the BANs. In any case any officer <br />whose signature or a facsimile signature appears on the BANs shall cease to be such officer <br />before delivery of the BANs, such signature shall nevertheless be valid and sufficient for all <br />purposes as if such officer had remained in office until delivery of the BANs. <br />Upon execution of the BANs by the Executive and attestation thereof by the City Clerk, <br />the BANs shall constitute the legal, valid and binding obligations of the City. <br />No action shall be taken that would impair the exclusion from gross income of interest on <br />the BANs provided by the Code. In furtherance of the foregoing, the provisions of Section 24 of <br />this Ordinance shall apply to the BANs in the same manner as they apply to the 2013A Bonds. <br />The BANs shall be subject to transfer or exchange in the same manner as the 2013A <br />Bonds, as described in Section 4 of this Ordinance, and to amendment in the same manner as the <br />2013A Bonds, as described in Sections 22 and 23 of this Ordinance. <br />The Executive and the Fiscal Officer each are authorized and directed to execute a <br />purchase agreement with respect to the BANs in such form or substance as they shall approve. <br />As an alternative to any terms of the BANs set forth above and to the method of sale referred to <br />above, the Fiscal Officer may negotiate the sale to the Indiana Finance Authority or the Indiana <br />Bond Bank upon such terms as are acceptable to the Executive and the Fiscal Officer and as are <br />authorized by law for such sale, and the Executive and the Fiscal Officer each are authorized to <br />execute a purchase agreement with the Indiana Finance Authority or the Indiana Bond Bank <br />reflecting such terms. <br />(b) The Executive and the Fiscal Officer may take such other actions or <br />deliver such other certificates and documents needed for the Refunding 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 or <br />described in Ordinance No. 10019 -10 adopted by the Council on June 28, 2010. Such ordinance <br />is hereby incorporated by reference as if set forth in full at this place, two copies of which are on <br />file and available for public inspection in the office of the City Clerk pursuant to I.C. §36- 1 -5 -4. <br />-21- <br />
The URL can be used to link to this page
Your browser does not support the video tag.