My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
1998
>
Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
6/25/2009 8:45:24 AM
Creation date
6/25/2009 8:45:23 AM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/22/1998
Ord-Res Number
8919-98
Bill Number
51-98
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
31
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
without limitation, an approving opinion of a nationally recognized bond counsel, certification and <br />guarantee of signatures and certification as to no litigation pending, as of the date of delivery of the <br />1998 Bonds to the State, challenging the validity or issuance of the 1998 Bonds. In the event the <br />Controller determines to sell one or more series of the 1998 Bonds to the State, the entry by the City <br />into the Financial Assistance Agreement and the execution of the Financial Assistance Agreement <br />by the Mayor, and, if required, the entry by the City into a Purchase Agreement with the Bond Bank <br />and the execution of the Purchase Agreement by the Mayor, in accordance with this Ordinance are <br />hereby authorized, approved and ratified. For purposes of any provision of this Ordinance applicable <br />in the event the 1998 Bonds are owned by the State, such provision shall be equally applicable if any <br />of the 1998 Bonds are owned by the Bond Bank as a part of the SRF Program. <br />Prior to the delivery of the 1998 Bonds, the Mayor, subject to the direction of the <br />Common Council, (i) shall be authorized to investigate, negotiate and obtain bond insurance, other <br />forms of credit enhancement and/or credit ratings on 1998 Bonds and (ii) shall obtain a legal opinion <br />as to the validity of the 1998 Bonds from Baker & Daniels, South Bend, Indiana, bond counsel for <br />the City, with such opinion to be furnished to the purchaser of the 1998 Bonds at the expense of the <br />City. The costs of obtaining any such insurance, other credit enhancement and/or credit ratings, <br />together with bond counsel's fee in preparing and delivering such opinion and in the performance <br />of related services in connection with the issuance, sale and delivery of the 1998 Bonds, shall be <br />considered as a part of the cost of the Project and shall be paid out of the proceeds of the 1998 <br />Bonds. <br />Section 9. Disposition of Proceeds of the 1998 Bonds: Citv of South Bend. 1998 <br />Sewage Works Construction Account. The proceeds from the sale of the 1998 Bonds shall be <br />deposited and applied as follows: <br />(a) The accrued interest and any premium received at the time of delivery <br />of the 1998 Bonds or any unused discount shall be deposited in the Sewage Works Sinking <br />Fund continued by the 1998 Ordinance. <br />(b) The remaining proceeds from the sale of the 1998 Bonds shall be <br />deposited in a bank or banks which are legally qualified depositories for the funds of the <br />City, in the special account to be designated as "City of South Bend, 1998 Sewage Works <br />Construction Account" (the "Construction Account"). Amounts in the Construction Account <br />-16- <br />::ODMA\PCDOCS\SBDOCS 1 \ 1494'7\3 <br />
The URL can be used to link to this page
Your browser does not support the video tag.