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07-27-09 Common Council Meeting Agenda & Packet
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07-27-09 Common Council Meeting Agenda & Packet
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9/10/2009 2:52:27 PM
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7/23/2009 1:06:53 PM
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City Council - City Clerk
City Council - Document Type
Agendas
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Mayor, and, if required, the entry by the City into a purchase agreement or any other <br />agreement with the Authority and the execution thereof by the Mayor, in accordance with <br />this Ordinance are hereby authorized, approved and ratified. <br />Notwithstanding anything contained herein, the City may accept any other <br />forms of financial assistance, as and if available, from the SRF Program (including <br />without limitation (1) any forgivable loans, grants or other assistance whether available <br />as an alternative to any Bond related provision otherwise provided for herein or as a <br />supplement or addition thereto and (2) one or more series or combination of series of <br />Bonds and/or BANs). If required by the SRF Program to be eligible for such financial <br />assistance, one or more of the series of the Bonds or BANS issued hereunder may be <br />issued on a basis such that the payment of the principal of or interest on (or both) such <br />series of Bonds is junior and subordinate to the payment of the principal of and interest <br />on other series of Bonds issued hereunder (and/or any other revenue bonds secured by a <br />pledge of Net Revenues, whether now outstanding or hereafter issued), all as provided by <br />the terms of such series of Bonds as modified pursuant to this authorization. Such <br />financial assistance, if any, shall be as provided in the Financial Assistance Agreement <br />and the Bonds of each series of Bonds and the BANs of each series of BANS issued <br />hereunder (including any modification made pursuant to the authorization in this <br />paragraph to the form of Bond otherwise contained herein). <br />(f) Credit Enhancement Opinion of Bond Counsel. Prior to the <br />delivery of the Bonds and BANS, the Mayor, subject to the direction of the Common <br />Council, (i) shall be authorized to investigate, negotiate and obtain bond insurance, other <br />forms of credit enhancement and/or credit ratings on Bonds (and the BANS, if issued) and <br />-27- <br />BDDBOI 5738468v1 <br />
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