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Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds
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Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds
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6/25/2009 8:45:24 AM
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6/25/2009 8:45:23 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/22/1998
Ord-Res Number
8919-98
Bill Number
51-98
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subsequent to the date of the adoption of this Ordinance. Such Purchase Agreement may set forth <br />the definitive terms and conditions for such sale, but all of such terms and conditions must be <br />consistent with the terms and conditions of this Ordinance, including without limitation, the interest <br />rate or rates on the 1998 Bonds which shall not exceed the maximum rate of interest for the 1998 <br />Bonds authorized pursuant to this Ordinance. 1998 Bonds sold to the Bond Bank shall be <br />accompanied by all documentation required by the Bond Bank pursuant to the provisions of Indiana <br />Code 5-1.5 and the Purchase Agreement, including, without limitation, an approving opinion of <br />nationally recognized bond counsel, certification and guarantee of signatures and certification as to <br />no litigation pending, as of the date of delivery of the 1998 Bonds to the Bond Bank, challenging the <br />validity or issuance of the 1998 Bonds. In the event the Controller determines. to sell one or more <br />series of the 1998 Bonds to the Bond Bank, the submission of an application to the Bond Bank and <br />the entry by the City into the Purchase Agreement and the execution of the Purchase Agreement on <br />behalf of the City by the Mayor in accordance with this Ordinance are hereby authorized approved <br />and ratified. <br />One or more series of the 1998 Bonds may, in the discretion of the Controller, be sold <br />to the State, including any such sale through the Bond Bank, pursuant to its State Wastewater <br />Revolving Loan Fund Program ("SRF Program"). The Mayor and the Clerk are hereby authorized <br />to submit an application to the State for participation in the SRF Program. As a part of the SRF <br />Program, the Financial Assistance Agreement for the 1998 Bonds and the Project shall be executed <br />by the City and the State. The substantially final form of Financial Assistance Agreement attached <br />as Annendix BB hereto and incorporated herein as if set forth in this place is hereby approved by the <br />Common Council, and the Mayor and the Clerk are hereby authorized to execute the same on behalf <br />of the City, and to approve any changes in form or substance to the Financial Assistance Agreement, <br />such approval to be conclusively evidenced by its execution. The Financial Assistance Agreement <br />may set forth the definitive terms and conditions for such sale including the purchase price and <br />interest rate, but all of such terms and conditions must be consistent with the terms and conditions <br />of this Ordinance, including, without limitation, the interest rates on the 1998 Bonds which shall not <br />exceed the maximum rate of interest for the 1998 Bonds authorized pursuant to this Ordinance. <br />1998 Bonds sold to the State shall be accompanied by all documentation required by the State <br />pursuant to Indiana Code 13-18-13, 327 IAC 13 and the Financial Assistance Agreement, including, <br />-15- <br />::ODMA\PCDOCS\SBDOCS 1 \ 14947\3 <br />
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