Drafter
Clerk 09/09/2003

____________ ____, 2003 INTRODUCED BY:

PROPOSED NO. 2003-




ORDINANCE ________
title
AN ORDINANCE authorizing the issuance of sewer revenue bonds of the county in the aggregate principal amount of not to exceed $250,000,000 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 19
SECTION 3. Authorization of Bonds 21
SECTION 4. Registration, Exchange and Payments 22
SECTION 5. Redemption of Bonds; Open Market Purchases 26
SECTION 6. Notice and Effect of Redemption 27
SECTION 7. Form of Bonds; Execution of Bonds 28
SECTION 8. Mutilated, Lost, or Destroyed Bonds 29
SECTION 9. Bond Fund 30
SECTION 10. Pledge of Sewer Revenues 33
SECTION 11. Revenue Fund 34
SECTION 12. Sewer Revenue Priorities of Payment 34
SECTION 13. Construction Account; Disposition of Bond Proceeds 36
SECTION 14. Refunding Account; Plan of Refunding 38
SECTION 15. Due Regard for Operating and Maintenance Expenses 39
SECTION 16. Rate Covenant 40
SECTION 17. Certain Other Covenants 41
SECTION 18. Tax-Exemption 43
SECTION 19. Trustee for Bondowners 44
SECTION 20. Events of Default; Powers and Duties of Trustee 45
SECTION 21. Future Parity Bonds 48
SECTION 22. Reimbursement Obligations 53
SECTION 23. Parity Payment Agreements 53
SECTION 24. Sale of Bonds 55
SECTION 25. Delivery of Bonds 56
SECTION 26. Official Statement 57
SECTION 27. Undertaking to Provide Ongoing Disclosure 58
SECTION 28. General Authorization 58
SECTION 29. I...

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