Laserfiche WebLink
(2) Mandatory Redemption. Any Bond may be <br />designated as a Term Bond, subject to mandatory <br />redemption prior to its maturity on the dates and in <br />the amounts set forth in the Bond Purchase <br />Agreement. <br />(h) Price. The purchase price for each Series of the Bonds may not <br />be less than 98.0% or more than 135.0% of the stated <br />principal amount of that Series. <br />(i) Other Terms and Conditions. (1) Debt Capacity Not Exceeded. A Series of the Bonds <br />may not be issued if it would cause the indebtedness <br />of the City to exceed the City's legal debt capacity on <br />the Issue Date. <br />(2) Reasonably Expected Life. As of the Issue Date of <br />each Series, the Designated Representative must find <br />to the Designated Representative's satisfaction that <br />the average expected life of the capital facilities or <br />assets to be financed with the proceeds (or allocable <br />share of proceeds) of that Series exceeds the <br />weighted average maturity of such Series (or share <br />thereof allocated to financing those capital facilities). <br />(3) Federal Tax Status of the Bonds. The Designated <br />Representative may designate any Series of the <br />Bonds as Tax -Exempt Bonds, Taxable Bonds, or Tax <br />Credit Subsidy Bonds, consistent with Section 14 of <br />this ordinance. <br />(4) Additional Teems, Conditions, and Ag�^eements. The <br />Sale Terms for any Series may provide for bond <br />insurance or for any other credit enhancement as the <br />Designated Representative may find necessary or <br />desirable. The Sale Terms may include such <br />additional terms, conditions, and covenants as may <br />be necessary or desirable, including but not limited <br />to: restrictions on investment of Bond proceeds and <br />pledged funds (including any escrow established for <br />the defeasance of any of the Bonds); provisions for <br />the conversion of interest rate modes; provisions for <br />the reimbursement of a credit enhancement provider; <br />and requirements to give notice to or obtain the <br />consent of a credit enhancement provider. The <br />Designated Representative is authorized to execute, <br />on behalf of the City, such additional certificates and <br />agreements as may be necessary or desirable to <br />reflect such terms, conditions, and covenants. <br />