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Authorizing the Issuance of Bonds - EDIT 2015, Smart Streets $25 Million
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Authorizing the Issuance of Bonds - EDIT 2015, Smart Streets $25 Million
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2/6/2015 4:15:16 PM
Creation date
2/6/2015 4:14:43 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
1/26/2015
Ord-Res Number
10346-15
Bill Number
01-15
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(d) To obtain or maintain bond insurance with respect <br />to the Bonds; or <br />(e) To provide for the refunding or advance of the <br />Bonds; or <br />(f) To make any other change which, in the <br />determination of the City in its sole discretion, is not to the <br />prejudice of the owners of the Bonds. <br />SECTION 12. Investment of Funds. The Controller is hereby authorized to invest <br />moneys pursuant Indiana law, including Indiana Code 5- 1 -14 -3, and the provisions of this <br />Ordinance. The Controller shall keep full and accurate records of investment earnings and <br />income from moneys held in the funds and accounts created or referenced herein. In order to <br />comply with the provisions of this Ordinance, the Controller is hereby authorized and directed to <br />employ consultants or attorneys from time to time to advise the City as to requirements of state <br />and federal law. <br />SECTION 13. Continuing Disclosure. In order for the Purchaser of the Bonds to comply <br />with the SEC Rule, if applicable, the Mayor and Controller of the City may execute and deliver <br />an agreement by the City to comply with the requirements of a continuing disclosure undertaking <br />by the City pursuant to subsection (b) (5) of the SEC Rule, and any amendments thereto from <br />time to time (the "Continuing Disclosure Agreement'). The City hereby covenants and agrees <br />that it will comply with and carry out all of the provisions of the Continuing Disclosure <br />Agreement. The substantially final form of Continuing Disclosure Agreement submitted to the <br />Council with this ordinance is incorporated herein by reference and is hereby approved and the <br />Mayor and/or Controller of the City are authorized to execute the same and to approve such <br />changes in form or substance thereto which are consistent with the terms of this Ordinance, such <br />changes to be conclusively evidenced by the execution thereof. <br />SECTION 14. Other Action. The Mayor and/or the Controller may take such other <br />actions to finalize and deliver such other certificates and documents needed to accomplish the <br />transaction contemplated hereby as they deem necessary or desirable in connection therewith. <br />SECTION 15. No Conflict. All ordinances and orders or parts thereof in conflict with <br />the provisions of this Ordinance are to the extent of such conflict hereby repealed. After the <br />issuance of the Bonds and so long as any of the Bonds or interest or premium, if any, thereon <br />remains unpaid, except as expressly provided herein, this Ordinance shall not be repealed or <br />amended in any respect which will adversely affect the rights of the holders of the Bonds, nor <br />shall the City adopt any law or ordinance which in any way adversely affects the rights of such <br />holders. <br />SECTION 16. Severabilitv. If any section, paragraph or provision of this Ordinance <br />shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of <br />such section, paragraph or provision shall not affect any of the remaining provisions of this <br />Ordinance. <br />13 <br />
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