File #: 2002-0123    Version: 1
Type: Ordinance Status: Passed
File created: 3/18/2002 In control: Budget and Fiscal Management Committee
On agenda: Final action: 4/1/2002
Enactment date: 4/12/2002 Enactment #: 14315
Title: AN ORDINANCE providing for the issuance and sale of limited tax general obligation bonds of the county in the aggregate principal amount of not to exceed $240,000,000 for the purposes of refunding certain outstanding limited tax general obligation bonds issued by the county to finance construction of a major league baseball stadium; providing for the form, terms, covenants and other provisions of said refunding bonds; authorizing a plan of refunding and the appointment of an escrow agent to accomplish such plan of refunding; providing for the sale of the bonds and the disposition of the proceeds of sale; establishing funds for the receipt and expenditure of bond proceeds and for the payment of the bonds; providing for the annual levy of taxes to pay the principal thereof and interest thereon; and pledging certain taxes and revenues as additional security for the bonds.
Sponsors: Larry Phillips, Rob McKenna
Indexes: Baseball, Bonds, Finance, Taxes
Attachments: 1. Ordinance 14315.pdf, 2. 2002-0123 Staff Report 3-27-02 .doc, 3. 2002-0123 transmittal letter.doc, 4. Exhibit A, 5. Revised Staff Report 3-27-02.doc
Drafter
Clerk 03/13/2002
title
AN ORDINANCE providing for the issuance and sale of limited tax general obligation bonds of the county in the aggregate principal amount of not to exceed $240,000,000 for the purposes of refunding certain outstanding limited tax general obligation bonds issued by the county to finance construction of a major league baseball stadium; providing for the form, terms, covenants and other provisions of said refunding bonds; authorizing a plan of refunding and the appointment of an escrow agent to accomplish such plan of refunding; providing for the sale of the bonds and the disposition of the proceeds of sale; establishing funds for the receipt and expenditure of bond proceeds and for the payment of the bonds; providing for the annual levy of taxes to pay the principal thereof and interest thereon; and pledging certain taxes and revenues as additional security for the bonds.
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TABLE OF CONTENTS

Page

SECTION 1. Definitions|913|
SECTION 2. Findings|913|
SECTION 3. Authorization of Bonds|913|
SECTION 4. Registration, Exchange and Payments|913|
SECTION 5. Redemption of Bonds; Open Market Purchases 12
SECTION 6. Notice and Effect of Redemption 13
SECTION 7. Form of Bonds; Execution of Bonds 14
SECTION 8. Mutilated, Lost, or Destroyed Bonds 15
SECTION 9. Bond Redemption Account 16
SECTION 10. Pledge of Baseball Stadium Taxes and Revenues 17
SECTION 11. Pledge of General Taxation and Credit 18
SECTION 12. Disposition of Proceeds of Bonds 19
SECTION 13. Application of Refunding Bond Proceeds and Certain Excess Baseball Stadium Taxes and Revenues 19
SECTION 14. Covenants and Warranties 22
SECTION 15. Tax-Exemption 23
SECTION 16. Arbitrage Rebate 24
SECTION 17. Sale of Bonds 24
SECTION 18. Delivery of Bonds 25
SECTION 19. Official Statement 26
SECTION 20. Undertaking to Provide Ongoing Disclosure 27
SECTION 21. General Authorization 27
SECTION 22. Defeasance 27
SECTION 23. Severability 28
SECTION 24. Effectiv...

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