BIL 136 Draft 01 2020-2022 - Laserfiche WebLink

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(c) be issued in such denominations as shall be specified in the Indenture,; (d) be issued in the form, and executed in the manner, prescribed in the Indenture; (e) be registered as to both principal and interest, subject to registration, transfer and exchange upon such terms as shall be prescribed in the Indenture; (f) be payable (i) in any coin or currency of the United StGtes of America which at the time of payment is legal tender for public and private debts, and (ii) at such place or places as shall be specified in the Indenture; (g) be subject to redemption prior to maturity, if applicable, at such times and upon such terms as shall be prescribed in the Indenture; (h) be secured under the Indenture by a pledge of(i) the Special Tax and the lien thereof established pursuant to Chapter 32 and the Ordinance of Formation, and (ii) the funds and accounts established under the Indenture as security for the Bonds, including all amounts deposited into such funds and accounts pursuant to -the Indenture; it being expressly understood that, except as otherwise provided in the Indenture, the foregoing pledge shall be superior to all other claims on the Special Tax and the pledged funds and accounts, and all series of Bonds shall be of equal rank and priority under the Indenture unless the issuance of senior and junior lien Bonds is expressly authorized thereunder; (i) be subject to such other terms, conditions and limitations as are set forth in the Indenture, including terms and conditions pertaining to (i) the establishment and handling of a special fund or funds to pay or secure the Bonds and/or to pay Project Costs or Incidental Expenses, (ii) the investment of moneys on deposit in the funds and accounts established under the Indenture, and (iii) any other matters relating to the Bonds, including provisions for issuance, payment, security, credit enhancement, handling of funds, defaults and remedies; and (j} contain such other provisions and be subject to such ether terms and conditions as are required under Chapter 32. SECTION 4. Further Approvals by Council. The issuance and sale of any series of Bonds pursuant to this Ordinance shall be subject to approval by resolution of Council, prior to the marketing of such series of Bonds, of the following: (a) the maximum principal amount of the Bonds of such series, the maximum interest rate or true interest cost for the Bonds of such series, the maximum redemption price for the Bonds of such series, and the maximum underwriting discount at which such Bonds may be sold; -3 -