THE LAKEWOOD CITY COUNCIL CHAMBERS OCTOBER 18 2010 ...

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c Agreement to Provide Continuing Disclosure For the benefit ofthe owners and beneficial owners from time totime ofthe Bonds the Cityagrees as the only obligated personwith respect to the Bonds under the Rule to provide or cause to be provided such financial information and operating data audited fmancial statements and notices in such manner as may be required for purposes of paragraphb5iof the Rule The City further agrees in particular to provide or cause to be provided i to the MSRBA Annual hnformation for each City fiscal year ending hereafter not later than the 270th day following the end ofthe fiscal year and B when and if available audited City fmancial statements for each such fiscal yeaz and ii to the MSRB within 10 days notice ofA any Specified Event B the City s failure to provide the Annual Information within thetime specified above andCany ofits annual fmancial change in the accounting principles applied in the preparation statements any change in its fiscal yeaz its failureto appropriate funds to meet costs to be incurredtoperformthe agreement and oftheternunation ofthe agreement The Continuing Disclosure Certificate in the form now on file with the Clerk is approved The DirectorofFinance is authorized and directed to complete sign and deliver in thename and on behalf ofthe City the Continuing Disclosure Certificate with such changes that are not inconsistent with this Ordinance are not materially adverse to the City and are approved by the Director of Finance to specify in reasonable detail the Annual Information to be provided which may be provided by specific reference to other documents previously filed and available in accordance with the Rule whether the City has obtained any credit enhancement or provider for the Bonds and the City s expectations as to whether audited financial statements will be prepared the accounting principles to be applied in their preparation and whether they will be available together with or separately from Annual Information That any such changes to the Continuing Disclosure Certificate are not materially adverse to the City and are approved by the Director ofFinance shall be evidenced conclusively by the signing ofthe Continuing Disclosure Certificatebythe Director of Finance The Director ofFinance is further authorized and directedto establish procedures in order to ensure compliance bythe Citywith its ContinuingDisclosure Certificateincluding timelyprovision ofinformation and notices as described above Prior to making any filing in accordance with clause ii above or providing notice of the occurrence of any other events the Director ofFinance shall consult with and obtain legal advice from as appropriate the Director of Law and bond or other qualified independent special counsel selected by the City The Director ofFinance acting in the name and on behalf of the City shall be entitled torely upon any such legal advice in determining whether afiling should be made The City reserves the right to amend its Continuing Disclosure Agreement and to obtain the waiver ofnoncompliance with any provision ofthe Continuing Disclosure Agreement as may be necessary or appropriate to achieve its compliance with any applicable federal securities law or rule to cure any ambiguity inconsistency or formal defect or omission and to address any change in circumstances arising from a change in legal requirements change in law or change inthe identity nature or status ofthe City or type of business conducted by the City Any such amendment or ZSf I4
waiver will notbe effecfive unless the Continuing Disclosure Agreement as amended or taking into account such waiver would have complied with the requirements of the Rule at the time of the primary offering ofthe Bonds after taking into account any applicable amendments to or official interpretations of the Rule as well as any change in circumstances and until the City shall have received eitheri a written opinion ofbond or other qualified independent special counsel selected by the City that the amendment or waiver would not materially impair the interests of owners or beneficial owners ofthe Bonds orii the written consentto the amendment or waiver ofthe owners of at least a majority ofthe principal amount ofthe Bonds then outstanding Annual Information containing any revised operating data or financial information shall explain in narrative form the reasonsfor any such amendment or waiver and the impact of the change on the type ofoperating data or financial information beingprovided The City s Continuing Disclosure Agreement shall be solely for the benefit of the owners and beneficial owners from time totime ofthe Bonds The exclusive remedy for any breach ofthe agreement by the City shall be limited to the extent permitted by law to ari ght of owners and beneficial owners to institute and maintain or to cause to be instituted and maintained such proceedings as may be authorized at law or in equity to obtain the specific performance by the City of its obligations under the agreement Any individual owner or beneficial owner may institute and maintain orcause to be instituted and maintained such proceedings to require the City to provide or cause to be provided a pertinent filing if such a filing is due and has not been made Any such proceedings to require the City to perform any other obligation under the Continuing Disclosure Agreement including any proceedings that contest the sufficiency of any pertinent filing shall be instituted and maintained only by a trustee appointed by the owners and beneficial owners ofnot less than 25 in principal amount of the Bonds then outstanding or by owners and beneficial owners ofnot less than 10 in principal amount ofthe Bonds then outstanding in accordance with Section133 25B4b orC1 of the Revised Code as applicable or any like or comparable successorprovisions The performance by the City of its Continuing Disclosure Agreement shall be subject tothe annual appropriation of any funds that may be necessary to performit The City sContinuingDisclosure Agreement shall remain in effect only forsuch period that the Bonds are outstanding in accordance with their terms and the City remains an obligated person with respect tothe Bonds within the meaning ofthe Rule The obligation ofthe Cityto provide the Annual Information and notices ofthe events described above shall ternunate if and when the City no longer remains such an obligated person The Director of Finance is hereby authorized and directed to the extent necessary or required to enter into any agreements in the name and on behalf of the City that the Director of Finance deternunes to be necessary in connection with a book entry system for the Bonds after approval ofany such agreement bythe Director ofLaw Section 10 Escrow Agreement The Escrow Agreement in the form now onfile with the Clerk is approved The Director of Finance is authorized to sign and deliver in the name and on behalf of the City the Escrow Agreement with any changes that are not inconsistent with this Ordinance are not materially adverse to the City and are approved by the Director ofFinance That 1
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DOCKET OF AMEETING OF THE LAKEWOOD
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l0 ORDINANCE NO 53 10 An Ordinance
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Kaufmann Park known as Lakewood Lit
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128 0306 CORPORATION COryoration me
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No shall be person required to with
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as CONSTRUCTION INDEPENDENT cuM1 nn
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d 1 On the portion attributable to
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MUNICIPALITY OR IN ANY MUNICIPALITY
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2 A TAXPAYER WHO RECEIVES INCOME AS
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128 2203 13A8I13TY PORNON PAYMENT B
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f Help maintainastable basebypxovid
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H Theyshallbe dceigned to havetow f
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ee Registered PmfessiovW Surveyor m
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5 Theapplicant shall meet Ne requir
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Section 2 It is found and determine
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oao so nn 043r m Toy 3 O m ac o m m
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Ordinance No 53 1o PLACED ON 1ST RE
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e hUQUraI Design Anygrephiq other s
Page 37 and 38: egulations of the Gty shall beremov
Page 39 and 40: j Wall arPanel Sons Shall not Proje
Page 41 and 42: RESOLUTION NO 8450 10 gy PLACED ON
Page 43 and 44: N Q Q r O N LJ m X w r f0 a O N W O
Page 45 and 46: City ofLakewood Audit Committee Ann
Page 47 and 48: City ofLakewood Audit Committee Ann
Page 49 and 50: 6 Reduction of economicdevelopment
Page 51 and 52: Counrl ak Large NICKIE ANTONIO MONI
Page 53 and 54: Citizens Committee for Leashed Dogs
Page 55 and 56: I h orr October 18 2010 Dear Member
Page 57 and 58: ORDINANCE N0 BY AN ORDINANCE to tak
Page 59 and 60: nsoo a and of any of its committees
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Page 67 and 68: 0 0 0 0 0 b d o oa o w MAR c w o 7
Page 69 and 70: a a 0n O 0 y nd a v y S F w s j 7 c
Page 71 and 72: 7b y wo ro b ms rn o F a y y o F gy
Page 73 and 74: N 0 y ti o sb w to R O N w o M p y
Page 75 and 76: ORDINANCE NO By AN ORDINANCE to tak
Page 77 and 78: Unless otherwise indicated referenc
Page 79 and 80: Bonds isnot secured by a lien on an
Page 81 and 82: any subsequent Mandatory Sinking Fu
Page 83 and 84: they not been called for redemption
Page 85 and 86: notification of the book entry inte
Page 87: or give reports covenants and certi
Page 91 and 92: Section 16 Emereency This Ordinance
Page 93 and 94: Annual Information means annual fin
Page 95 and 96: Interest Payment Dates means June 1
Page 97 and 98: a Interest Rates and Payment Dates
Page 99 and 100: applicable to those Term Bonds the
Page 101 and 102: on behalf ofthe City The same perso
Page 103 and 104: Ordinance arenot materially adverse
Page 105 and 106: T b Applicationfor Rating or Bond I
Page 107 and 108: Annual hiformafion and notices ofth
Page 109 and 110: or o Q QD f I LAWRENCE E MROZ o FIR
Page 111 and 112: automatically by the most recent ed
Page 113 and 114: Ir October 18 2010 Lakewood City Co
Page 115 and 116: the reasons set forth and defined i
Page 117 and 118: RESOLUTION N0 BY A RESOLUTION to ta
Page 119: NOTICE TO LEGISLATIVE AUTHORITY TO
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THE LAKEWOOD CITY COUNCIL CHAMBERS OCTOBER 18 2010 ...

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