Number
151254
Version
Substitute 1
Sponsor
The Chair
Title
Substitute resolution authorizing and providing for the sale and issuance of Sewerage System Revenue Bonds for capital improvement purposes. (Comptroller)
Analysis
This resolution authorizes and provides for the sale by the City a series of Sewerage System Revenue Bonds in the principal amount not to exceed $100,000,000 for financing the costs of improvements to the City’s Sewerage System; prescribing certain details of such bonds; and certain other matters related thereto.
Body
Whereas, in interpreting the terms of the Series 2016 Resolution (hereinafter defined), all terms which are defined in Section 1.01 of the Resolution (hereinafter defined) shall have the same meanings, respectively, in this Series 2016 Resolution as such terms are given in said Section 1.01 of the Resolution. “Resolution” means Common Council Resolution File No. 991863 adopted by the Common Council on August 2, 2001, as amended by Resolution File No. 021776 adopted by the Common Council on April 15, 2003 and Resolution File No. 100863 adopted by the Common Council on November 23, 2010. In addition, as used in this Series 2016 Resolution, the following terms shall have the following respective meanings: “Series 2016 Bonds” means the Sewerage System Revenue Bonds authorized to be issued pursuant to and subject to the terms, conditions and limitations established in the Resolution and this Series 2016 Resolution. “Series 2016 Resolution” means this Series 2016 Resolution authorizing up to $100,000,000 aggregate principal amount of the Series 2016 Bonds. “Tax Certificate” means the Tax Compliance Certificate executed by an Authorized Officer of the City in connection with the issuance of the Series 2016 Bonds; and
Whereas, the Resolution provides the authority (when utilized in conjunction with separate “Series” resolutions) for the issuance of Sewerage System Revenue Bonds to be payable from the revenues of the Sew...
Click here for full text