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Ordinance No. 19551
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Ordinance No. 19551
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6/10/2010 3:45:24 PM
Creation date
2/27/2009 1:32:51 PM
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Council Ordinances
CMO_Document_Number
19551
Document_Title
Authorizing the issuance of revenue bonds to pay costs of airport imp., prescribing terms of bonds & terms under which bonds payable from airport revenues may be issued in future; pledging & limiting use of revenues; & declaring emergency.
Adopted_Date
4/27/1988
Approved Date
4/27/1988
CMO_Effective_Date
4/27/1988
Signer
Brian B. Obie
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entitled tv receive partial payment of principal from BIG such <br />registered owners must tender their Bonds for payment thereof <br />first to the Trustee, who shall note on such Bonds the portion of <br />the principal paid by the Trustee, and thereafter, together with <br />a form of transfer of title thereto, to the Insurance Trustee. <br />After such Bonds and instruments transferring title thereto have <br />been tendered to the Insurance Trustee, BIG will pay the unpaid <br />portion of principal then due, <br />12.3. Reporting Requirements. <br />12.3.1. The City <br />case of Additional Bonds, and <br />indebtedness, it will file or <br />official statement issued by, <br />connection with the incurrence <br />indebtedness. <br />agrees that immediately, in the <br />annually, in the case of other <br />cause to be filed with BIG any <br />or on behalf of , the City in <br />e by the City of any such <br />12.3.2. The City agrees promptly to provide or cause <br />to be provided to BIG such financial, statistical and other <br />factual information as BIG shall from time to time reasonably <br />request regarding the Airport. <br />12.3.3. The City agrees to provide not more than 120 <br />days after the end of each fiscal year, a certificate of its <br />Chief Financial Gfficer to the effect that the City is in <br />compliance with the terms and conditions of this ordinance, or <br />specifying the nature of any noncompliance and the remedial <br />action taken or proposed to be taken to cure such noncompliance. <br />12.3.4. The City agrees promptly to provide to BIG <br />~a} audited for, if no audited then unaudited} financial <br />statements and quarterly financial. statements, (b} its annual <br />report, ~c} all budgets, budget amendments, reports, certificates <br />and financial information required to be filed with the Trustee <br />pursuant to this ordinance or available at the request of <br />Bondowners, and ~d} all reports and certificates prepared by the <br />Airport Consultant or Financial Advisor. <br />Page ~8 - Ordinance <br />
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