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C150243 PIF Documents
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C150243 PIF Documents
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Last modified
8/30/2016 11:32:30 AM
Creation date
8/30/2016 11:32:15 AM
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Template:
Loan Projects
Contract/PO #
C150243
Contractor Name
Aurora, City of
Contract Type
Loan
Loan Projects - Doc Type
Contract Documents
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t } <br /> pledge of any source of revenue other than the Income, for the purpose of financing or <br /> refinancing improvements to the System. Any such Obligation may also be secured by a pledge <br /> of the Net Pledged Revenues, but only to the extent that it is issued in compliance with the <br /> provisions of this Ordinance. <br /> Section 2.02. Terms of First-Lien Revenue Obligations. First-Lien Revenue <br /> Obligations shall be issued pursuant to one or more Series Ordinances, which Series Ordinances <br /> shall incorporate the provisions of this Ordinance by reference and may provide for the <br /> maximum principal amounts, interest rates, redemption provisions, execution and authentication <br /> provisions, registration, transfer and exchange provisions, book-entry form provisions, if any, <br /> provisions for Credit Facilities or Liquidity Facilities, if any, tender provisions, if any, and such <br /> other matters, not inconsistent with this Ordinance, as Council shall reasonably determine. The <br /> final terms of any Series of First-Lien Revenue Obligations may be established by Supplemental <br /> Resolution or, if provided in the applicable Series Ordinance, by a Final Terms Certificate. First- <br /> Lien Revenue Bonds of a particular Series, or notes or other instruments evidencing other types <br /> of First-Lien Revenue Obligations, shall be substantially in the form provided in the applicable <br /> Series Ordinance, which form may contain such additional or different provisions, not <br /> inconsistent with this Ordinance, as are appropriate or necessary, or as may be required by law at <br /> the time such First-Lien Revenue Bonds are issued. The Series Ordinance authorizing a Series <br /> of First-Lien Revenue Obligations may or may not provide for the establishment of a Debt <br /> 'Service Reserve Account or an Excess Investment Earnings Account in connection with such <br /> Series. <br /> Section 2.03. Terms of Subordinate Revenue Obligations. Subordinate Revenue <br /> Obligations shall be issued pursuant to one or more Series Ordinances, which shall incorporate <br /> the provisions of this Ordinance by reference and may provide any reasonably required details <br /> with respect to such Subordinate Revenue Obligations, and which shall expressly provide that <br /> such Subordinate Revenue Obligations are payable from and secured by a lien upon the Net <br /> Pledged Revenues expressly junior and inferior to the lien securing First-Lien Revenue <br /> Obligations and shall also clearly and conspicuously state any other limitations on the security <br /> therefor. Subordinate Revenue Obligations-may be issued on a parity-lien basis with each other, <br /> or with claims to the Net Pledged Revenues having different relative priorities. The Series <br /> Ordinance authorizing a Series of Subordinate Revenue Obligations may or may not provide for <br /> the establishment of a Debt Service Reserve Account or an Excess Investment Earnings Account <br /> in connection with such Series. <br /> Section 2.04. Special Facilities Obligations. Special Facilities Obligations shall be <br /> entered into by ordinance, which ordinance shall include findings as to the need for separate <br /> financing of the Capital Project or Improvements being financed as a Special Facility and the <br /> necessity of the related Project Revenues being used exclusively for the financing of the Special <br /> Facility. Special Facilities Obligations shall be payable exclusively from Project Revenues and <br /> shall not be secured by a lien on the Net Pledged Revenues. Nothing in this Ordinance shall <br /> prevent a Special Facility from being incorporated into the System upon the payment or <br /> provision for payment of all Special Facilities Obligations associated with such Special Facility. <br /> #866939v11 1 3 <br />
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