THE LAKEWOOD CITY COUNCIL CHAMBERS OCTOBER 18 2010 ...

More documents

Recommendations

Info

their failure to perform adverse tax opinions the issuance by the Internal Revenue Service of proposed or final determinations oftaxability nofices of proposed issues other material notices or determinations with respect tothetax status ofthe Bonds or other material events affecting the tax exempt status ofthe Bonds modifications torights ofowners or beneficial owners ofthe Bonds if material Bond calls if material and tender offers defeasances release subsfitution or sale of property securing repayment ofthe Bonds if material and rating changes bankruptcy insolvency receivership or similar event ofthe City merger consolidation or acquisition ofthe City or the sale ofall or substantially all ofthe assets ofthe City otherthan in the ordinary course ofbusiness entry into a definitive agreement to undertake such action or the ternunation of a definitive agreement relating to any such actions other than pursuant to its terms if material and appointment of a successor Bond Registrar or a change of name ofBond Registrar if material The repayment ofthe Bonds is not secured by a lien on any property capable ofrelease or sale or for which other property maybe substituted Term Bonds means those Bonds if any designated as such and maturing on the Principal Payment Dates set forth in the Certificate ofAward The captions and headings in this Ordinance are solely for convenience ofreference and in no way define limit or describe the scope or intent of any Sections subsections paragraphs subparagraphs or clauses hereof Reference to a Section means a section ofthis Ordinance unless otherwise indicated Section 2 Authorized Principal Amount andPur ose Application ofProceeds It is sbest interest to issue bondsof this Cityin an aggregate 000 the Bonds torefund the Outstanding Bonds issued to necessary and determined to be in the City principal amount not to exceed4550 pay costs of the hnprovement and to pay costs of issuing the Bonds The aggregate principal amount of Bonds to be issued not to exceed4550 000 shall be detemuned by the Director of Finance inthe Certificate ofAwardto be the aggregate principal amount ofBonds that is requiredto be issued at this time for the purpose statedin this Section 2 A portionoftheproceeds ofthe Bonds sufficient together with othermoney available tothe City to refund the Outstanding Bonds shall be deposited into the Escrow Fund in accordance with the Escrow Agreement A portion of the proceeds ofthe Bonds sufficient together with other moneys availabletothe City shall be deposited into an appropriate fund ofthe City and usedto pay costs ofissuance ofthe Bonds Any proceeds ofthe Bonds not spent 120 days after the issuance of the Bonds shall be transferred to the Bond Retirement Fund and usedto pay principal ofor interest onthe Bonds when due All interest earned on amounts on deposit in each ofthose funds derived from tine proceeds ofthe Bonds including interest earned on such interest shall be credited to the fund and used for the purposes setforth above and shallnot be transferred to the General Fund All oftheproceeds ofthe Bonds and interest earned onthose proceeds and the interest on suchinterest are hereby appropriated for the purposes set forth above Section 3 Denominations Datin Principal and Interest Payment and Redemption Provisions The Bonds shall be issued in one lot and only as fully registered bonds in the Authorized Denominations but in no case as to a particular maturity date exceeding the principal amount maturing on that date TheBonds shall be dated the Closing Date Sb
a Interest Rates and Payment Dates The Bonds shall bear interest at the rate or rates ofinterestper yeaz computed on a 360 day per year basis consisting oftwelve30 daymonths as shall be determined by the Director ofFinance in the Certificate ofAwazd subject to sectionc of this Section Interest on the Bonds shall be payable at such rate or rates on the Interest Payment Dates until the principal amount has been paid or provided for The Bonds shall bear interest from the most recent date to which interest has been paid or provided for or ifno interest has been paid orprovided forfrom theirdate b Principal Payment Schedule The Bonds shall mature or be payable pursuant to Mandatory Sinking Fund Redemption onthe Principal Payment Dates in principal be determined by the Director ofFinance subjectto subsectionc ofthis Section amounts as shall in the Certificate of Award which detemmnation shall be consistent with the best interests of and financial advantages to the City Consistent with the foregoing and in accordance with the determination ofthe best interest of and financial advantages to the City the Director ofFinance shall specify in the Certificate of Awardi the aggregate principal amount of the Bonds to be issued as Serial Bonds if any the Principal Payment Date or Dates on which those Serial Bonds shall be stated to mature and the principal amountthereof that shall be stated to mature on each such Principal Payment Date andii the aggregate principal amount ofthe Bonds if any to be issued as Term Bonds the principal amount thereof that shall ba stated to mature on each such Principal Payment Date and the Mandatory Sinking Fund Redemption Date and the Mandatory Sinking Fund Redemption applicable to those Term Bonds c Conditionsfor Establishment of Interest Rates and Principal Payment Dates and Amounts The rate or rates of interest per year to be borne by the Bonds and the principal amount ofBonds maturing shall be such that the total principal and interest payments on theBonds in any fiscal year in which principal is payable is not more thanthreetimes the amount ofthose payments in any other fiscal year The net interest rate per yeaz for the Bonds determined by taking into account the respective principal amounts ofthe Bonds and terms to maturity orMandatory Siiilarig Fund Redemption ofthose principal amountsofBonds shall not exceed6 peryear d Payment ofBonds The principal of and interest and any premium on the Bonds shall be payable in lawful money ofthe United States ofAmerica without deduction forthe services of the Bond Registrar as paying agent Principal of and any premium on the Bonds shall be payable when due upon presentation and surrender of the Bonds at the designated corporate trust office ofthe Bond Registrar Interest ona Bond shall be paid on each Interest Payment Date by check or draft mailed to the person in whose name the Bond was registered and to that person s address appearing on the Bond Register at the close of business on the 15th day of the calendar month next preceding that Interest Payment Date Notwithstanding the foregoing if and so longas the Bonds are issued in a book entry system principal of and interest and any premium on the Bonds shall be payable in the manner provided in any agreement entered into by the Director of Finance in thename and onbehalfofthe City in connection with the bookentry system 9 6
Page 1 and 2:
DOCKET OF AMEETING OF THE LAKEWOOD
Page 3 and 4:
l0 ORDINANCE NO 53 10 An Ordinance
Page 5 and 6:
Kaufmann Park known as Lakewood Lit
Page 7 and 8:
128 0306 CORPORATION COryoration me
Page 9 and 10:
No shall be person required to with
Page 11 and 12:
as CONSTRUCTION INDEPENDENT cuM1 nn
Page 13 and 14:
d 1 On the portion attributable to
Page 15 and 16:
MUNICIPALITY OR IN ANY MUNICIPALITY
Page 17 and 18:
2 A TAXPAYER WHO RECEIVES INCOME AS
Page 19 and 20:
128 2203 13A8I13TY PORNON PAYMENT B
Page 21 and 22:
f Help maintainastable basebypxovid
Page 23 and 24:
H Theyshallbe dceigned to havetow f
Page 25 and 26:
ee Registered PmfessiovW Surveyor m
Page 27 and 28:
5 Theapplicant shall meet Ne requir
Page 29 and 30:
Section 2 It is found and determine
Page 31 and 32:
oao so nn 043r m Toy 3 O m ac o m m
Page 33 and 34:
Ordinance No 53 1o PLACED ON 1ST RE
Page 35 and 36:
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
Page 61 and 62: am O 6 m a s5 d Y b N e cW a ctrl a
Page 63 and 64: o ro m h ry n nrp w y O y wr O bN3
Page 65 and 66: o w M Ufa a o Rm2 a a a rn aa m m 7
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 and 88: or give reports covenants and certi
Page 89 and 90: waiver will notbe effecfive unless
Page 91 and 92: Section 16 Emereency This Ordinance
Page 93 and 94: Annual Information means annual fin
Page 95: Interest Payment Dates means June 1
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
show all

THE LAKEWOOD CITY COUNCIL CHAMBERS OCTOBER 18 2010 ...

Create successful ePaper yourself

Delete template?

Save as template?