Ordinance 99-86 - Laserfiche WebLink

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"Ordinance" shall mean this Ordinance as the same may from time to time be amended and supplemented in accordance with the terms hereof. "Parity Obligations" shall mean any notes, bonds or other forms of indebtedness, payable from the Pledged Revenues on a parity with the Bond, whether or not such obligations are issued under this Ordinance. "Paying Agent" shall mean the City's Finance Department or, if the City Commission shall so determine by subsequent proceeding, any bank or trust company and any successor bank or trust company appointed by the City to act as Paying Agent hereunder. "Payment Date" shall mean each January 1, April 1, July 1 and October 1, commencing January 1,2000, the BAN Maturity Date, the Bond Maturity Date and any date the principal of the Bond Anticipation Note or the Bond is optionally prepaid in whole or in part. "Pledged Revenues" shall mean all moneys on deposit in the Debt Service Fund derived from the proceeds of the Bond Security required to be deposited therein each month in accordance with the provisions of this Ordinance. "Prime Rate" shall mean the annual interest rate most currently quoted in The Wall Street Journal, Eastern Edition, as the "Prime Rate." "Registrar" shall mean the City's Finance Department or, if the City Commission shall so determine by subsequent proceeding, any bank or trust company and any successor bank or trust company appointed by the City to act as Registrar hereunder. "Sales Tax" shall mean local government half-cent sales tax imposed by Chapter 82-154, Laws of Florida, as amended, and distributed to the City under Part VI of Chapter 218, Florida Statutes, as amended. "Second Tranche" shall mean, except as otherwise set forth in Section 2.6(b) of this Ordinance, the next $10,000,000 of the maximum principal amount of the Bond required to be advanced by the Bondholder to the City under the terms and conditions of this Ordinance after the Bondholder shall have advanced the entire First Tranche to the City. Upon the satisfaction of the terms and conditions of this Ordinance, advances under the Second Tranche shall be available on and after the first business day of calendar year 2000 until the last business day of calendar year 2001. "Tax Certificate" shall mean the Arbitrage Certificate of the City executed on the dates of initial delivery of the Bond Anticipation Note and the Bond and on the date of the initial advance under the Bond in each calendar year subsequent to its issuance. "Third Tranche" shall mean, except as otherwise set forth in Section 2.6(b) of this Ordinance, the final $8,300,000 of the maximum principal amount of the Bond required to be 8