File #: 2002-0222    Version: 1
Type: Ordinance Status: Passed
File created: 5/28/2002 In control: Budget and Fiscal Management Committee
On agenda: Final action: 7/8/2002
Enactment date: 7/11/2002 Enactment #: 14406
Title: AN ORDINANCE authorizing the issuance of sewer revenue bonds of the county in the aggregate principal amount of not to exceed $725,000,000 to provide funds for constructing improvements to the sewer system of the county and for refunding certain outstanding sewer revenue bonds of the county; providing for the form, terms, covenants and other provisions of such bonds; providing for the sale of the bonds and for a plan of refunding; establishing funds for the receipt and expenditure of bond proceeds and for the payment of the bonds; and pledging sewer revenues to pay the principal of and interest on the bonds.
Sponsors: Larry Phillips
Indexes: Bonds, Finance, Sewage
Attachments: 1. Ordinance 14406.pdf, 2. 2002-0222 revised staff report 7-1-02.doc, 3. 2002-0222 Transmittal Letter.doc, 4. 2002-0222,2223,2224 Staff Report 7-1-02.doc, 5. A. EXHIBIT A
Drafter
clerk 05/17/02
title
AN ORDINANCE authorizing the issuance of sewer revenue bonds of the county in the aggregate principal amount of not to exceed $725,000,000 to provide funds for constructing improvements to the sewer system of the county and for refunding certain outstanding sewer revenue bonds of the county; providing for the form, terms, covenants and other provisions of such bonds; providing for the sale of the bonds and for a plan of refunding; establishing funds for the receipt and expenditure of bond proceeds and for the payment of the bonds; and pledging sewer revenues to pay the principal of and interest on the bonds.
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TABLE OF CONTENTS
Page
SECTION 1. Definitions|913|
SECTION 2. Findings 20
SECTION 3. Authorization of Bonds 21
SECTION 4. Registration, Exchange and Payments 22
SECTION 5. Redemption of Bonds; Open Market Purchases 27
SECTION 6. Notice and Effect of Redemption 28
SECTION 7. Form of Bonds; Execution of Bonds 29
SECTION 8. Mutilated, Lost, or Destroyed Bonds 30
SECTION 9. Bond Fund 31
SECTION 10. Pledge of Sewer Revenues 35
SECTION 11. Revenue Fund 35
SECTION 12. Sewer Revenue Priorities of Payment 38
SECTION 13. Construction Account; Disposition of Bond Proceeds 40
SECTION 14. Refunding Account; Plan of Refunding 42
SECTION 15. Due Regard for Expenses of Maintenance and Operation 44
SECTION 16. Rate Covenant 44
SECTION 17. Certain Other Covenants 45
SECTION 18. Tax-Exemption 49
SECTION 19. Trustee for Bondowners 50
SECTION 20. Events of Default; Powers and Duties of Trustee 52
SECTION 21. Future Parity Bonds 55
SECTION 22. Reimbursement Obligations 61
SECTION 23. Parity Payment Agreements 61
SECTION 24. Sale of Bonds 63
SECTION 25. Delivery of Bonds 64
SECTION 26. Official Statement 65
SECTION 27. Undertaking to Provide Ongoing Disclosure 66
SECTION 28. General Authorization 66
SECTION 29. Investment of Funds and Accounts 66
SECTION 30. Defeasance 67
SECTION 31. Supplemental Ordinan...

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