Editor's Note — Ord. no. 2008-21 §1, adopted May
27, 2008, repealed ch. 710 "sewer extension policy" and enacted new
provisions set out herein. Former ch. 710 derived from ord. no. 98-12
§1, 5-1-1998.
[Ord. No. 2008-21 §1, 5-27-2008]
The Board of Aldermen hereby approves the lessee's participation
in the program.
[Ord. No. 2008-21 §1, 5-27-2008]
A.
The lessee
documents are hereby approved in substantially the forms submitted
to and reviewed by the Board of Aldermen on the date hereof, with
such changes therein as shall be approved by the Mayor, the Mayor's
execution thereof to be conclusive evidence of the approval thereof.
B.
The Mayor
is hereby authorized and directed to execute and deliver the lessee
documents on behalf of and as the act and deed of the lessee. The
City Clerk is hereby authorized to affix the lessee's seal thereto
and attest said seal.
[Ord. No. 2008-21 §1, 5-27-2008]
The lessee expects to make capital expenditures after the date
of the adoption of this Chapter in connection with the project and
the City intends to reimburse itself for such expenditures and also
expenditures made with respect to the project on or after sixty (60)
days before the date of this Chapter with proceeds received under
the lease.
[Ord. No. 2008-21 §1, 5-27-2008]
The lessee's Sewerage System Refunding Revenue Bonds, Series
1998, now outstanding in the principal amount of four million ninety
thousand dollars ($4,090,000.00) and the City's Junior Lien Sewerage
System Revenue Bonds, Series 2002, now outstanding in the principal
amount of two hundred eighty-eight thousand dollars ($288,000.00)
are called for redemption and payment on July 1, 2005, subject to
the availability of funds on that date from the program.
[Ord. No. 2008-21 §1, 5-27-2008]
The lessee shall, and the officials and agents of the lessee
are hereby authorized and directed to, take such action, expend such
funds and execute such other documents, certificates and instruments
as may be necessary or desirable to carry out and comply with the
intent of this Chapter and to carry out, comply with and perform the
duties of the lessee with respect to the lessee documents and the
project.
