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INDEX
PACE `
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Si .
^ Recitals..............................................................................................................................1
ARTICLE I
F" DEFINITIONS
Section 101. Definitions of Words and Terms.............................................................................................2
Section102. Additional Provisions.............................................................................................................6
a ARTICLE II
,3M AUTHORIZATION OF BONDS �ra
Ott ........... ........................G t �f
Section 201. Authorization of Bonds ........................................................:.......... .
Section202. Security for Bonds......................................................................................... .....................6
' Section 203. Description of Bonds....................................... .................................................... ... .6
I. Section 204. Designation of Paying Agent..................................................................................................6 t .
Section 205. Method and Place of Payment of Bonds
M
'4• Section 206. Registration,Transfer and Exchange of Bonds
.............7
h �
Section 207. Execution,Authentication and Delivery of Bonds.................................................................7 .
Section 208. Mutilated, Destroyed, Lost and Stolen Bonds...
' Section 209. Cancellation and Destruction of Bonds Upon Payment
Section 210. Sale of the Bonds;Authorization and Execution of Documents
Section 211. Administrative Fee and Other Fees; Revolving Fund Loan...................................................9f�
,a ARTICLE III
REDEMPTION OF BONDS
a Section 301. Mandatory Sinking Fund Redemption ...................................................................................9 r
Section 307_. Optional Redemption
.............................................................................................................9
Section 303. Selection of Bonds to Be Redeemed.....................•..................................................... .......9
Section 304. Notice and Effect of Call for Redemption........................................................................ 9
ARTICLE.« IV
Section 401. Establishment of Funds and Accounts.............................................................:....................10
Section 402. .Administration of Funds and Accounts................................................................................10
M Section 403. Acknowledgment of Accounts..............................................................................................
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` ARTICLE V
APPLICATION OF BOND PROCEEDS
Section 501. Disposition of Bond Proceeds and Other Moneys ...............................................................11 r _ s•<';
Section 502. Assignment and Application of Moneys in the Construction Account........... .....................11 IV
w Section 503. Application of Moneys by Refunded Bonds Paying Agent..................................................12 ''
Section 504. Purchase and Cancellation of Refunded Bonds.................
ARTICLE VI
`i
APPLICATION OF REVENUES
Section601. Revenue Fund.......................................................................................................................12
Section 602. Application of Moneys in Funds and Accounts....................................................................12
w; Section 603. Deficiency of Payments into Funds and Accounts .........14
Section 604. Transfer of Funds to Paying Agent.......................................................................................14i .
ARTICLE VII4�
DEPOSIT AND INVESTMENT OF MONEYS
Section 701. Investment of Moneys. ..,,.,..15
•.................................................................. FFki1tr
ARTICLE VIII
k i PARTICULAR COVENANTS OF'rHE CITY :
Section 801. Efficient and Economical Operation
Section802. Rate Covenant..... .......................................................................... .............. ..... ..
Section 803. Reasonable .........
Section 804. Annual Budget
k�• r , {
Charges for all Services.....................................................................................15
Section 805. Annual Audit 16
Section 806. Performance of Duties. ... ......................................................16
Section 807. Tax Covenants......................................................................................................................16
ARTICLE IX ,
ADDITIONAL BONDS
Section 901. Prior Lien Bonds ................ .. ........... ... . . ... . .t7 ``R`
r Section 902. Parity Lien Bonds or Obligations................'.........................................................................17 F°
Section 903. Junior Lien Bonds
' Section 904. Refunding Bonds............................................................................................... ..............18
,v ARTICLE :K
DEFAULT AND REMEDIES
Section 1001. Event of Default... .....................................................................................................:....18t
Section1002. Remedies...............................................................................................................:............18' :t ,
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BILL NO. ORDINANCE NO.
AN ORDINANCE AUTHORIZING THE ISSUANCE OF SEWERAGE ;,;'°Yy�?�•'�,���,���,..:..:,
SYSTEM REFUNDING AND IMPROVEMENT REVENUE BONDS (STATE
REVOLVING FUND PROGRAM) SERIES 2001B, OF THE CITY OF
JEFFERSON, MISSOURI, FOR THE PURPOSE OF EXTENDING AND
IMPROVING THE CITY'S SEWERAGE SYSTEM AND REFUNDING A ,k' rr r.t',' ,
PRIOR ISSUE OF BONDS OF THE CITY; PRESCRIBING THE FORM AND
DETAILS OF THE BONDS AND THE AGREEMEN'T'S MADE BY THE CITY
-'` TO FACILITATE AND PRO'T'ECT THEIR PAYMENT,AND AUTHORIZING A
NO-INTEREST LOAN FROM THE WATER AND WAS'T'EWATER LOAN
FUND OF THE STATE OF MISSOURI AND PRESCRIBING OTHER
RELATED MATTERS. is,�ar'i,M
�., WHEREAS, the City of Jefferson, Missouri (the "City"), is a constitutional charter city and
political subdivision of the State of Missouri, organized and existing under the constitution and laws of
'IA
it
it the State of Missouri; and �� '
WHEREAS the City now owns and operates a revenue producing sewe rage system serving mr the
City, its inhabitants and others within its service area, including connected and related appurtenances and ` '"'"
facilities and extensions, improvements, additions and enlargements made or acquired by the City after
t,
Ul� the date of this Ordinance (the "System")•' and Yi!ijH�y' I, bll's•T('�
WHEREAS, �< +
$10,000,000 principal amount of the bonds so authorized have been issued (the ��:'Y ,,k•. ,> ,t:%''
Refunded Bonds as further described below); and
WHEREAS, the City is authorized under the provisions of Chapter 250 of the Revised Statutes of
I Missouri (the "Act") to issue and sell revenue bonds for the purpose of paying all or part of the cost of
extending and improving the System, with the cost of operation and maintenance of the System and the
I principal of and interest on revenue bonds payable solely from the Net Revenues(as defined below); and ,
WHEREAS, pursuant to the Act, a special bond election was duly held in the City on November 7,
2000 on the following question: ,
QUESTION ` y �� °w,' •
Shall the City of Jefferson, Missouri, issue its sewerage system revenue bonds in
the amount of$52,000,000 for the purpose of improving and extending the City's sewerage
system, the cost of operation and maintenance of said sewerage system and the principal of5f<
and interest on said revenue bonds to be payable solely from the revenues derived by the
4
City from the operation of its sewerage system, including all future improvements and '
extensions thereto?
t' and it was found and determined that more than a simple majority of the qualified electors of the City voting
on the question had voted in favor of the question, the vote having been 14,406 votes for the question and
� •, 2,687 votes against the question; and
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WHEREAS, by Ordinance No. 13202 adopted on June 4, 2001 (the " °
Refunded Bond
Ordinance"), the City has issued its Sewerage System Revenue Bonds (State Revolving Fund Program - a"t{` '7 ' •+
t Leveraged Loan Program) Series 2001A (the "Refunded Bonds"), dated June 8, 2001, in the original s'
principal amount of$10,000,000, of which $10,000,000 remains outstanding as of the date of adoption of
this Ordinance,payable out of the Revenues derived from the operation of the System; and
WHEREAS, the City desires to refund the Refunded Bonds and is authorized under the provisions t rY
'y of Section 108.140 2) of the Revised Statutes of Missouri the "Refunding aw" to issue and sell
( ( g )t
refunding revenue bonds for the purpose of refunding, its outstanding revenue bonds, which refunding 1
�- revenue bonds may be payable from the same sources as were pledged to the payment of the Refundeds,
qty: Bonds; and
WHEREAS, the City desires to issue its Sewerage System Refunding and Improvement Revenue
Bonds State Revolving Fund Program) Series 20018 the "Bonds") in the Original Principal Amount,
consisting of the Refunding Portion and the New Money Portion, as set forth in Exhibit A. for ther,,�,-{
,��_(•� f 1\i`f��.��.'it
i purposes of refunding the Refunded Bonds and to finance in whole or in part further extensions and
improvements to the System; and
WHEREAS, to provide the most cost effective financing of the extensions and improvements to
u s
,.,,.• the System the City desires to participate in the Missouri Leveraged State Water Pollution Control
..;; Revolving Fund Program (the SRF Program ) of the Missouri Department of Natural Resources
("DNR") and the State Environmental Improvement and Energy Resources Authority (the '`Authority");
and
� WHEREAS, the City Council (the "Governing Body ) of the City has caused plans and gg�gf4,'--:•.
specifications for extensions and improvements to the System and a cost estimate to be made by thet
Consulting Engineer(as defined below); and
.3 WHEREAS, the plans and specifications and the cost estimate are accepted and approved and are s�.a
on file in the office of the City Clerk, the amount of the estimated cost being not less than the Original `
Principal Amount; and
-ray!s�t�•i 22��,, ,a;pN
WHEREAS, the City, upon the issuance of the Bonds, will not have outstanding any other bonds
or other obligations payable from the Net Revenues other than the Bonds; and
WHEREAS, it is hereby found and determined that it is necessary and advisable and in the best a'�w `•,
I`q Y rY .. t
interest of the City and its inhabitants that revenue bonds be issued and secured in the form and manner
' r provided in this Ordinance and be sold to the Authority under the SRF Program;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
JEFFERSON, MISSOURI,AS FOLLOWS: ''
•rj, ARTICLE I
' DEFINITIONS f
Section 101. Definitions of Words and Terms. Capitalized words and terms not otherwise
;ar defined in this Ordinance have the meanings set forth in the Purchase Agreement (defined below). In N
'r addition to the foregoing and words and terms defined in the Recitals and elsewhere in this Ordinance,
capitalized words and terms have the following meanings in this Ordinance: , f t• +�
-2- }
I
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a q§t. k :r
"Administrative Fee"means the fee payable to DNR equal to 0.714% of the outstanding principal
amount of the Revolving Fund Loan on each Administrative Fee Calculation Date in Exhibit A.
� rr
"Annual Depreciation and Replacement Account Requirement" means the amount in Exhibit A.
"Authority Bonds” means the Water Pollution Control and Drinking Water Revenue Bonds (State z '
Revolving Funds Programs - Master Trust) Series 2001 C oft he Authority.
.
" "Authority Program Bonds" means the Authority Bonds and any other bonds of the Authority
yt:$ issued under the SRF Program, all or a portion of the proceeds of which are loaned to the City pursuant to
t the SU Program. } �
"Authorized Representative" means the representative of the City designated by the City in
accordance with the Regulations.
:rFl;
"Bondowner"means the Authority or its assigns.
"Bond Register" means the books for the registration, transfer and exchange of Bonds kept at the
office of the Paying Agent.
'. "Consultant"means the Consulting Engineer, an independent certified public accountant or a firm
r I bli f
of independent certified public accountants.
i "Consulting Engineer" means each independent engineer or engineering firm with experience I �a in and cons tructing
,
wastewater treatment, sanitary sewerage or water pollution control facilities
and retained
d by the City.
fir,• v
Current Expenses means all reasonable and necessary expenses of ownership, operation,
maintenance and repair of the System and keeping the System in good repair and working " ''`
77 p g order, 3.
determined in. accordance with generally accepted accounting principles, including current maintenance
charges, expenses of reasonable upkeep and repairs, salaries, wages, casts of materials and supplies,
Paying Agent fees and expenses, annual audits, periodic Consultant's reports,
properly allocated share of
charges for insurance, the cost of urchased water,
p , gas and power, obligations (other than for borrowed u; ;r);�ti�r�,v`` 4•'� '
money or for rents payable under capital leases) incurred in the ordinary course of business, liabilities
incurred by endorsement for collection or deposit of checks or drafts received in the ordinary course of
business, short-term obligations incurred and payable within a particular Fiscal Year, obligations incurred
for the purpose of leasing (pursuant to a true or operating lease) equipment, fixtures, inventory or other ��� ' •`r' '�"-�,
personal property, and all other expenses incident to the ownership and operation of the System, but +"Y
excluding interest paid on System Revenue Bonds, depreciation and amortization charges (includin g
payments into the Depreciation and Replacement Account), and all general administrative expenses of the
City not related to the operation of the System.
"Defeasance Securities" means:
�'1 ",�,"CtFi• rt"',icy.
(a) Federal Securities;
(b) obligations of the Resolution Funding Corporation or any successor, but only if
the use of the obligations to pay and discharge Bonds pursuant to Article XI will cause the
ONdischarged Bonds to be rated in the highest long-term rating cate o b the Ratin A gene or category Y g Agency; �•°t,
-3- ?
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t.s««s.,.Y.r.?i�i.+7wsMimti' .. f� ,�•t'
(c) obligations of any state of the United States of America or of any agency,
instrumentality or local governmental unit of any state that: } � ?
i are not callable at the option of the obligor prior to maturity or for which
irrevocable instructions have been given by the obligor to call on the date specified in the
instructions,and `,s` '
.Y`
are fully secured as to principal, redemption premium and interest by a
j� ~ V�1, 4
fund, consisting of cash or Federal Securities, that , ,,
(A) may be applied only to the payment of principal, redemption
premium and interest on the obligations, and
#' (B) is sufficient, as verified by a nationally recognized independent
y; certified public accountant, to pay the principal, redemption premium and interest try
;.;, on the obligations. ` ''
r
"
i Depreciation and Replacement Account" means the fund or account created or ratified and ;��`,, Y,•+;:K
' s confirmed by Section 401. { {'"
i45h'� 4ry v�y.
"Federal Securities" means any direct obligation of, or obligation the timely payment of the iv s'afifY
Vi
principal of and interest on which is unconditionally guaranteed by, the United States of America and
i
backed by its full faith and credit. '.
�.t.,�. "
Interest Payment Date" means each January 1 and July 1, commencing July 1, 2002.
6
"Maximum Depreciation and Replacement Account Requirement" means the amount in Exhibit
A tj..• z'
k; Net Revenues" means Revenues less Current Expenses. qq�-
p
Net Revenues Available for Debt Service" means, for the period of determination, Revenues less �e f
Current Expenses.
t�
,,. enses. g
e Account" means the fund or account created or ratified and � `•`.;.
Operation and Maintenance
confirmed by Section 401. ,' i y !
•'�ate
i;1'i1,r ..
,ti "Ordinance"means this Ordinance as from time to time amended in accordance with its terms.
t{ N
F "Outstanding" means, as of the date of determination, all Bonds issued and delivered under this
Ordinance, except:
Bonds cancelled by the Paying Agent or delivered to the Paying Agent for
cancellation; �'1�
(2) Bonds for the payment of the principal or redemption price of and interest on M ,
k which money or Defeasance Securities are held under Section 1101; t{
3 Bonds in exchange for which, oi• in lieu of which, other Bonds have been
registered and delivered pursuant to this Ordinance; and ? Fi
11.. yi
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(4) Bonds allegedly mutilated, destroyed, lost, or stolen and paid under Section 208.
"Owner" means the Bondowner.
"Parity Bonds" means any parity bonds issued under Section 902 payable from the Net Revenues
on a parity basis with the Bonds.
,rY ���. valid
"Parity Ordinances" means the Ordinances under which any other Pari ty Bonds are issued.
Purchase Agreement" means the Purchase Agreement dated as of November 1, 2001, by and
t{ 4 .,
among the City, the Authority and DNR.
.i
''. "Record Date" means the 15th day (whether or not a Business Day) of the calendar month next
a preceding the applicable Interest Payment Date.
"Refunded Bonds Paying Agent" means UMB Bank, N.A., as paying agent for the Refunded57;x:4�Y'4', y
Bonds under the Refunded Bond Ordinance.
"Revenue Fund"means the fund or account created or ratified and confirmed by Section 401. `` 'x.,'
"Revenues" means all income and revenues derived by the City 1TOm the System, includingrk,tr ,t.
investment and rental income, net proceeds from business interruption insurance, sales tax revenues �,.,,r ,1•;ct"
which have been annually appropriated by the City or which are limited solely to the payment of
±, improvements to or expenses of the System and any an
deposited in escrow in connection with the � f,
acquisition, construction, remodeling, renovation and equipping of facilities to be applied during the
period of determination to pay interest on System Revenue Bonds, but excluding any profits or losses on e . 3i�;• ,•i
the early extinguishment of debt or on the sale or other disposition of investments or fixed or capital assets
,t,....
not in the ordinary course of business.
I" "Revolving Fund Agreement" means the Revolving Fund Agreement dated as of November 1,
2001,by and among the City, the Authority and DNR.
o
'Revolving Fund Loan" means the no-interest loan to the City by DNR from The Water and
Wastewater Loan Fund under the Revolvin T Fu Agreement.
"SRF Program Bonds" means the Bonds and any other System Revenue Bonds issued in
connection with the City's participation in the SRF Program.
"SRF Subsidy" means the amount of investment e arnings which will accrue on the Reserve
3f; '
:= Account durin each Fiscal Year (taking into account scheduled transfers from the Reserve Account
g
which will occur upon the payment of principal on the Authority Program Bonds and assuming that the
construction for the applicable project has been completed), if the Reserve Security is equal to the Reserve
Percentage of the principal amount of the SRF Program Bonds outstanding, the Reserve Account is
t.°i,
invested in an investment agreement at a fixed interest rate during the calculation period and earnings are
reduced by the Administrative Fee payable to DNR. Administrative Fee, Reserve Account, Reserved
Percentage and Reserve Security as used in this definition have the respective meanings set forth in the
bond indenriires for the applicable Authority Program Bonds. !•
ti t{ "State"means the State of Missouri. 4,,
v l � i
"Surplus Account" means the fund or account created or ratified and contin-ned by Section 401. jAty,
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Bo nds, the Parity Bonds and all other revenue
"System Revenue Bonds” means collectively the Bo
bonds which are payable from the Net Revenues.
't "Terms Certificate" means the Terms Certificate of the City, dated the date of adoption of this z «_, u � •;
Ordinance related to a purchase contract for the Authority Bonds.
j^
"Trustee" means the trustee acting at any time as Trustee under the Indenture.
"User Charge Ordinance means the City's Ordinance establishing rates and charges for users of q
Vs. the System, as amended, supplemented or replaced and approved by DNR.
Section 102. Additional Provisions. Additional provisions are set forth in Exhibit A.
ARTICLE It
I AUTHORIZATION OF BONDS 'd? ° fi ;;: '.
I:�}i'.:.; ••ydt}4 ' "x%11°Y'7.{i"}:r:.
Section 201. Authorization of Bonds. The Bonds are authorized and directed to be issued in the
Original Principal Arnount for the rp f thi s a oses of Ordinance.
P
Section 202. Security for Bonds. (a) The Bonds are special, limited obligations of the City
solely from, and secured a pledge o , . er of the City is not
d b ld f the Net Revenues The taxing pow
payable
pledged to the payment of the Bonds. The Bonds do not constitute a general obligation of the City or an ,w;�° aA;s:,1
•. :,:• ..
indebtedness of the City within the meaning of any constitutional statutory or charter provision,
limitation or restriction. ..��
Section 203. Description of Bonds. The Bonds consist of fully registered bonds without tj
coupons, numbered from R-1 consecutively upward, in the denomination of $1,000 or any integral
multiple of $1,000. The Bonds will be issued in substantial) the form of Exhibit B and will be �, 4� !W
>' registered, transferred and exchanged as provided in Section 206. The Bonds are dated the Dated Date as £ tifz
set forth on the Bonds. The Bonds become due on the dates and in the principal amounts (subject to ��y :•:at'
optional and mandatory redemption prior to maturity as provided in Article III) and bear interest at the
annual rates set forth in Exhibit A. Interest is computed on the basis of a 360-day year of twelve 30-days ; ;' ( , •
sf:} months from the Dated Date or from the most recent Interest Payment Date to which interest has beenr , it: '
° J paid or provided for and is payable on each Interest Payment Date. '
•, ', Section 204. Desigm_ation of Paying Agent. The Trustee is designated as the City's paying agent
for the payment of the Bonds and bond registrar for the registration, transfer and exchange of Bonds (the ;r }� .•
"Paying Agent"). The Paying Agent will not be paid any additional fees for its services under this
;4r Ordinance,
Section 205. Method and Place of Payment of Bonds.
,ya .
(a) Payment of the Bonds will be made with an coin or current that is le al tender for the
s .
Y Y g' ,- u;
k1^.'
r � payment of debts due the United States of America on the payment date.
.
(b) Each payment of principal of and redemption premium, if any, payable on each Bond will
l t � r {:
be made at maturity or upon earlier redemption to the Owner shown. in the Bond Register at the maturity
Y P P �
or optional redemption date of each Bond, upon presentation and surrender of the Bond at the principal ,
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office of the Paying Agent. The payment of interest payable on each Bond on any Interest Payment Date ,.» ,;• :'
will be made by check or draft mailed by the Paying Agent to the address of the Owner shown in the
Bond Register. The principal of and redemption premium, if any, and interest on the Bonds is payable by
electronic transfer in immediately available federal funds to a bank in the continental United States of
' `;{^%��;�Viz'`,.. -,.•
America pursuant to instructions from any Owner received by the Paying Agent prior to the Record Date. ,1,�.+'wyZ';•.: .:..
f(c) The Paying Ag ent will keep a record of payment of principal of, redemption premium, i rt7•.' ' `'
•f�:��:t JF �Tla f
any, and interest on all Bonds and, at least annually at the request of the City, will forward a copy or ��
summary of the record of payments to the City. a�
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Section 206. Rggistration,Transfer and Exchange of Bonds.
(a) The City will cause the Paying Agent to keep the Bond Register. Each Bond when issued `
will be registered in the name of the Owner on the Bond Register. Bonds will be transferred and
exchanged only upon the Bond Register. t�'i+�'
1i'�i p{ui`�xk
7 • j
ri (b) Upon surrender of any Bond at the principal office of the Paying Agent, the Paying Agent
�-
•� will transfer or exchange the Bond for a new Bond or Bonds in an authorized denomination of the same
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maturity and in the same aggregate princi al amount as the Bond which was resented for transfer or � ;- '
ty principal P
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exchange. All Bonds presented for transfer or exchange must be accompanied b� a written instrument of iY'rl �iv�'Ff:r
transfer or authorization for exchange, in a form and with guarantee of signature satisfactory to the Paying
Agent, duly executed by the Owner or by the Owners authorized agent. All Bonds presented for transfer
IR
rr51lrt.ta l qbr 4
or exchange must be surrendered to the Paying Agent for cancellation. :n'�4 <`` W ?
(c) For every exchange or transfer of Bonds the City or the Paying Agent may levy a charge
i,p4EJr ,� ',•
T T 3..ttlY•`KYe�''�'r� raa;��,•.
. sufficient to reimburse it for any tax, fee or other governmental charge required to be paid for the
''
exchange or transfer. The charge must be paid by the person requesting the exchange or transfer.
Payment of the charge is a condition precedent to the exchange or transfer.
f �
d) The City and the Paying Agent will treat the person in whose name an Bond is f;,�, 4Sr4•;t i'
registered as the absolute owner of the Bond, whether or not payment of the Bond is overdue, for the
purpose of receiving payment of the principal of, redemption premium, if any, and interest on the Bond
and for all other purposes. All payments made to any Owner or upon the Owner's order will be valid and fillµ ` {�rJ >�:f•::<
effectual to satisfy and discharge the City's liability for payment of the Bond to the extent of the sum or
f sums paid. Neither the City nor the Paying Agent will be affected by any notice to the contrary.
(e) At reasonable times and under reasonable rules established by the Paying Agent, the
Owners of 25% or more in principal amount of the Outstanding Bonds, or their representative designated "`-`
in a manner satisfactory to the Paying Agent, may inspect and copy the Bond Register. l,Y
Section 207. Execution Authentication and Delivery of Bonds. '��a'r.
a) Each Bond must be signed by the manual or facsimile signature of the Mayor and attested r• r`' 'l
by the manual or facsimile signature of the City Clerk, and have the official seal of the City affixed or �s<
imprinted. If any. officer whose manual or facsimile signature appears on any Bond ceases to be an
officer before the delivery of any Bond signed by the officer, the manual or facsimile signature on the
Bond will be valid and sufficient for all purposes of this Ordinances
(b) The Mayor and the City Clerk are directed to prepare and execute the Bonds as specified 3 r4
in this Article, and when executed, to deliver the Bonds to the Paying Agent for authentication. Upon !.
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�. ,'t,Y��i -.l,..i'.�,.:1a:Le:f;yS7�.f.K�'�,Y';�•��„"Y.S���S{>1,Y;�.l"fh@SXRVhiki+HFu% .nl�ur�.,n, '”i•t Y tf4�,1"#,1#fl��+ri �. +$
authentication, the Paying Agent will deliver the Bonds to the Bondowner, upon payment of the purchase
(00”)
price for the Bonds.
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(c) Each Bond will be authenticated by any authorized officer or employee of the Paying
Agent. No Bond is entitled to any security or benefit under this Ordinance or be valid or obligatory for
any purpose until authenticated by the Paying Agent.
`A' Section . Mutilated, estroved, Lost and Stolen Bonds.
ti 208 Mtilt D
(a) if(i) any mutilated Bond is surrendered to the Paying Agent, or the City and the Paying
Agent receive evidence to their satisfaction of the mutilation, destruction, loss or theft of any Bond, and
(ii) there is delivered to the City and the Paying Agent security or indemnity as required by them, in the r't.'•
absence of notice to the City or the Paying Agent that the Bond has been acquired by a bona fide 3
purchaser, the City will execute and the Paying Agent will register and deliver, in exchange for or in lieu C
of any mutilated, destroyed, lost or stolen Bond, a new Bond of the same maturity and of like tenor and
principal amount. If the Bond has become or is about to become due, the City may pay the Bond instead sa ; •?'s '
#1� u�tc
of issuing a new Bond.
(b) Upon the issuance of any new Bond under this Section, the City may require the payment ;:: ,
! by the Owner of a sum sufficient to cover any tax or other governmental charge imposed and any other y(Y(,Al.A ;;
! a
t(� .t
expenses (including the fees and expenses of the Paying Agent) connected with the issuance of the Bond.;
(c) Every new Bond issued pursuant to this Section in lieu of any mutilated, destroyed, lost w y �
or stolen Band will constitute a replacement of the prior obligation of the City, whether or not the
mutilated, destroyed, lost or stolen Bond is enforceable by anyone at any time, and will be entitled to alla .
the benefits of this Ordinance equally and ratably with all other Outstanding Bonds.
a •) d �
Section ..09. Cancellation and Destruction of Bonds Upon Payment. All Bonds which have been
paid or redeemed or which have otherwise been surrendered to the Paying Agent, either at or before s T. :ntiw.L
maturity, will be cancelled immediately upon the payment or redemption and the Paying Agents receipt
of the Bonds. Cancelled Bonds will be periodically destroyed by the Paying Agent. The Paying Agent t;`,NN ;,',
.
will execute a certificate in duplicate describing the destroyed Bonds and file an executed counterpart of • ^; ,'
the certificate with the City.
' Section 210. Sale of the Bonds: Authorization and Execution of Documents. '`
(a) The Bonds will be sold to the Bondowner at the purchase price set forth in Exhibit A,
plus accrued interest, under the teens of the Terms Certificate and the Purchase Agreement. '" "
(b) The City is authorized to enter into the Purchase Agreement and the Revolving Fund
' Agreement, in substantially the forms presented to the Governing Body. The Mayor is authorized to
>r execute the Purchase Agreement, the Revolving Fund Agreement and the Terms Certificate for and on
behalf of and as the act and deed of the City, with changes approved b the Mayor, which approval will be
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conclusively evidenced by the Mayor's signature. The Mayor is further authorized and directed to execute
other documents, certificates and instruments that are necessary or desirable to carry out the intent of this
Ordinance. The City Clerk is authorized and directed to attest the execution of the Purchase Agreement and +M;,
,r the Revolving Fund Agreement and any other documents, certificates and instruments that are necessary or z fh
L desirable to carry out the intent of this Ordinance and. the Terms Certificate.
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Fund Loan.
211. Administrative Fee and Other Fees Revolving ;,'�• .,
Section —
a to the Trustee for deposit in the Administrative
�0,7 (a) Subject to Section ?02, the City will pay
Expense Fund, within 30 days after receipt of a statement from the Trustee (i) the Administrative Fee, (ii)
the City's Allocable Portion of the Mater Trustee's Disclosure Fee. and (iii) the City's Allocable Portion
of the Trustee's Fee. r
Ik}„SZf4
b) The City is authorised ro receive the Revolving Fund l Dora under the teems of the �Y
Revolving Fund Agreement. By this Ordinance, the City assigns the proceeds of the Revolving Fund ���zn•Cst�` i
,•t ,
Loan, as and when received, to the Authority.
ART. ZLE III
BONDS
REDEMPTION OF A will
Section 301. Mandato Sinkins� Fund Relmounts in1E hibit Aoatja redemption ricete equal t t�i��4' •''KI r ,:
p p q
be redeemed in part on the dates and in the principal
100"/0 of the principal amount redeemed plus accrued interest to the redemption dater 1 ! {d
, certain Bonds may be called for °Y3?
tional Redemption. At the option of the City
Section 302. Qn �#ry� `':
redemption and payment prior to maturity in whole or in part on the dotes and at the redemption races se
ifc .. ,,,
rk.pj�..i..a.x:.•
forth in Exhibit ibit A• Bonds will be optionally redeemed in part in integral multiples of $S�IOhOrie(unless '�� }�.�j�f
otherwise approved in writing by the Bondowner) from the maturities selected by the City prior �
y, the sinking fund redemption amounts for each
written consent of the Bondowner. Upon redemption, _,. •.,.
y Y � :r,:,.;.
*' 'i`'` Term Bond in Exhibit p p $5,000
f „ bit A will be ro ortionately reduced (unless otherwise directed b the City with the ��,II•�,ti� k V. Term
prior written cons— ent of the Bondowner), subject to rounding to integral multiples of (unless f ily i F
will give written notice to the Trustee
otherwise approved in writing by the Bondowner). The City g
#t� ,
” designating the amount of each maturity redeemed and the reduction in each sinking fund redemption k
-"" amount, subject to verification by the Trustee. In exercising its option tp redeem the Bonds, the City will
deposit with the Paying Agent, prior to the redemption date, an additional premium equal to 30-days'
t 4 J
the Bonds to be redeem k< =
in a.!
4 t Section 303. Selection of Bonds to Be Redeemed. If all Outstanding Bonds are held by the :�,;, 1,lb,
tic
Bondowner,
the redemption of the Bonds in part will be reflected in the records maintained the by written ��-��t•���D�«
7an� ' Agent. If the Bonds are held by any Owner other than the Bondowner, the City, p
7 ent and the Owners, will establish rocedues for the selection of Bonds u on
consent of the Paying, Agent p p
a'?fjM1xk' partial redemption.
Effect of for Redemption. <
Section 304. Notice and Effe
r
�
u5'{ T
(a) If all Outstanding, Bonds are held by the Bondowner, no notice of the mandatory sinking
1 ;.. !fri'dltin�
<, rN fund redemption of Bonds is required to be given. I£the Bonds are held by any Owner other t an the
t�� y�){u
Bondowner or if Bands are being optionally redeemed, notice of. redemption will be given in the manner {
described below. Unless waived by any Owner of Bonds b be redeemed,r certPfied Agent, on
at least behalf 45 ays �rsr w
qtr; the
•i� .kl the City, will give notice by nailing a redemption n Y g ?
prior to the date fixed for redemption, to the Owner of Bonds to be redeemed at the address shown on t 1
t
Bond Register. !'
�
(�i§ (b) All redemption notices will be dated and include the following information: �����
-9-
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t4.ti..
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yY.?r�41L�`'a`•a!'. b.. .,t.°_
`! � �. ,+:�„NZ'gyry. ;�1,.},r. z, ,�i,�.:l..e�, •JC Yt is
f. t!>,>;:.: '^{ J� t MA 4'.'a.'1� t, ;:,�4r1+'. t��'. !i�Ftt .. d E
t ' •j��x=tn<i1ri:+ a%�i�t+'#re.�+rk+a4,?.ttiYftiFk ,Aatt'�;hnYpt! N`,a�19'rl�� `i` �+'t�v� r ' '`�l, '
(1) the redemption date,
(2) the redemption price, consisting of the principal amount, redemption premium, if
any, and interest to the redemption date,
(3) if less than all Outstandin g Bonds are to be redeemed, the identification (and, in
the cast:of partial redemption, the respective principal amounts) of the Bonds to be redeemed,
(4) a statement that on the redemption date the redemption price will become due
rf> and payable upon each Bond or portion of a Bond called for redemption, and that interest ceases
to accrue on the redeemed amount from and after the redemption date, and
rF,fit (,S) the address of the principal office of the Paying Agent where the Bonds must be rz
surrendered for payment of the redemption price.
(c) If notice of redemption has been given or waived, the Bonds or portions to be redeemedur''J y- Fr1,a
will become due and payable on the redemption date at the redemption price specified in the notice. trat':,>•.
From and after the redemption date (unless the City defaults in the payment of the redemption price), the „,
called Bonds will cease to bear interest. Upon the surrender of Bonds for payment of the redemption
price r,yr, price in accordance with the notice, the Paying Agent will pay the redemption price to the applicable
Owners. Upon the Paying Agent's receipt of any Bond being partially redeemed, the Paying Agent will
~s prepare a new Bond or Bonds of the same maturity in the amount of the unpaid principal.,
ARTICLE N
Section 401. Establishment of Funds and Accounts. rN
a The separate fiords and accounts created in, or ratified and confirmed b the Refunded ,',r
1 Bond Ordinance known respectively as the: AI
t.. �,, •y:.,t r
Sewerage System Revenue Fund (the Revenue Fund"); -`t+ ''n NV
^3 (2) Sewerage System Operation and Maintenance Account (the "Operation and
Maintenance Account"); and
rt (3) Sewerage System Surplus Account(the"Surplus Account")
k
�• are ratified and confirmed.
'1 (b) The separate account created by the User Charge Ordinance known as the Replacement
Account(the"Depreciation and Replacement Account") is ratified and confirmed. }< k
4, Section 402. Administration of Funds and Accounts. The funds and accounts described in
Section 401(a) and Section 401(bj will be maintained and administered by, or on behalf of, the City under
this Ordinance while any of the Bonds are outstanding.
t%� {
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Section 403. AcknowledQm_ent of Accounts. r 4 't` `a_
n of the following accounts for the City held by the
a The City acknowledges the creation g
Trustee tinder the Indenture:
1 Construction Account;
(2) Reserve Account;
;`. (3) Debt Service Account; s';
(4) Principal Account; and
5 Interest Account.
(b) The City further acknowledges that certain amounts will be transferred to the Costs of fs�z•f �:,,y;
,..,p
Issuance Fund and the Administrative Expense Fund under the Indenture in satisfaction of certain City obligations under this Ordinance, the Purchase Agreement and the Revolvin Fund A Bement. J1�� h,17:tP
t
ARTICLE s4 '
is
r^ ('A
APPLICATION OF BOND PROCEEDS
n t
"+ Section 501. Disposition of Bond Proceeds. ;
(a) The proceeds received from the sale of the Bonds, including any premium and accruedy
r7r � :
' interest will be deposited simultaneously with the delivery of the Bonds, as follows:
(1) into the Costs of Issuance Fund an amount equal to the Costs of Issuance in x +; ...
;
Exhibit A
t (2) into the Interest Account the accrued interest on the Bonds; and
..., (3) into the Construction Account the remaining proceeds of the Bonds.
(b) On the issuance date of the Bonds the Tnistee will disburse from the Construction
'¢ from the proceeds of the Bonds, to the Refunded Bonds Paying Agent the amount set forth in
Account, d ;a
Exhibit A for application to the purchase and cancellation of the Refunded Bonds in whole. vie"
. :
T,
'; Section 502. Assignment and Application of Monexs in the Construction Account. ,
�., (a) By this Ordinance, the City assigns the proceeds of the Bonds held in the Construction
Account t0 the Bondowner to secure the City's obligations under this Ordinance. Moneys in the k
Construction Account will be disbursed to the City for the sole purpose of providing for the payment of
?` the Refunded Bonds and paying the cost of extending and improving the System in accordance with the �^t,4. ;
plans and specifications prepared by the Consulting Engineer, previously approved by the Governing f
' Body and DNR and on file in the office of the City Clerk, including any alterations in or amendments to
the plans and specifications and DNR with the advice of the Consulting
>�� • specifications approved by the Governing Body
Engineer. r'
k
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(b) Requisirions will be submitted for withdrawals from the Construction Account in
` accordance with Article III of the Purchase Agreement.
Section 503. Application of Moneys by Refunded Bonds.Paving Agent. Moneys received by the
' Refunded Bonds Paying Agent will be applied solely to the payment of the principal of and redemption
premium, if any, and interest on the Refunded Bonds. 'These moneys deposited with the Refunded Bonds
; j Paying Agent will be held by the Refunded Bonds Paying Agent in accordance with the provisions of the
Refunded Bond Ordinance. ,
.' Section 504. Purchase and Cancellation of Refunded Bonds. The City has received written notice
a from the owner of the Refunded Bonds pursuant to Section 302(c) of the Refunded Bonds Ordinance of the
mandatory tender of the Refunded Bonds in whole on November 20, 2001. Upon payment of the purchase s
price of the Refunded Bonds by the Refunded Bonds Paying Agent, the Refunded Bonds will be cancelled. ,
The Mayor, the City Administrator, the City Clerk and the Refunded Bonds Paying Agent are authorized
Y P payment
-"� and directed to take an other actions necessary to effect the purchase, and cancellation of the
Refunded Bonds.
ARTICLE VI
f
APPLICATION OF REVENUES
.; Section 601. Revenue Fund. The City covenants and agrees that from and after the delivery of
the Bonds, all Revenues derived and collected by the City will be deposited into the Revenue Fund when
received. The Revenues will be segregated from all other moneys, revenues, funds and accounts of the
City. The Revenue Fund will be administered and applied solely for the purposes and in the manner
' provided in this Ordinance and any Parity Ordinance. w
Section 602. Application of Moneys in Funds and Accounts. f ; ,
,
F°i. F
(a) Tile City will apply moneys in the Revenue Fund on the dates, in the amounts and in the
order as follows:
r w {•,r
(1) on the first day of each month to the Operation and Maintenance Account an
amount sufficient to pay the estimated cost of operating and maintaining the System during the '
month;
t, (2) on the 25th day of each month, the following amounts to the Trustee for credit to
the Interest Account and the Principal Account:
'1 t�..r l��,1r✓ta
A.
t J..f.
(A) on January 25, 2002 to and including June 25, 2002, to the Interest
Account 1/6 of the amount of interest on the Bonds due on July 1, 2002 less accrued �• `'' 'rte
interest deposited to the Interest Account; and on July 25, 2002 and thereafter 1/6 of the ;.'''
,y amount of interest due on the Bonds on the next Interest Payment Date, with these
monthly payments to be reduced as follows: '
A!
(I) the balance in the Debt Service Account on an Interest Payment &
.T Date after the payment of the principal of and interest due on the Authority
Bonds on the Interest Payment Date will be credited against the next succeeding'
monthly payment or payments; and "'`
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the projected investment earnings on the Construction Account
tfAFt g >�
` and the Reserve Account for the current Interest Period and actual investment
earnings for the prior Interest Period reduced by estimated earnings for the
"tee � 3;„r'"': �•
preceding Interest Period that were previously credited, as set forth in the
t.' Trustees semiannual notice to the City, will be credited in equal installments '`{` ..
l�
against the monthly payments due prior to the next Interest Payment Date; and 'jai 'i#,3,
a,*
(B) on July 25, 2002 and each monthly payment date thereafter, tote
Principal Account 1/12 of the principal due on the Bonds on the next succeeding principal
f payment date, whether at maturity or upon mandatory sinking fund redemption. If the
Initiation of Operation specified in the certificate delivered by the City under Section 3.5
of the Purchase Agreement is earlier than the expected Initiation of Operation on the
City's signature page to the Purchase Agreement, (i) the first monthly installment of yar:.�
principal will be paid no later than the monthly payment date which is not more, than 12 1 i �:'`n3'”
months after the Initiation of Operation, and (ii) on the monthly payment date which is
not more than 20 years after the Initiation of Operation, all remaining unpaid principal
installments will be paid;
y�,�,,,iC •' 'i
,t (3) on the dates required by Section 211 a, to the Trustee, for deposit to the
Administrative Expense Fund, the amount required to pay the Administrative Fee, the City's ��:_$�•
i,.• Allocable Portion of the Trustee's Fee and the City's Allocable Portion of the Master Trustees �'R .,
Disclosure Fee; r f`1 ; •'!tix' '"`
5 w�
(4) on the first day of each month, in the event the Trustee has withdrawn moneys
from the Reserve Account (other than investment earnings or the amount transferred from the
Reserve Account upon the payment of principal on the Bonds), to the Reserve Account all
available moneys until the Reserve Account has been replenished; .�r. • �zj::y
(5) on the first day of each month, to the Depreciation and Replacement Account if
the balance in the Depreciation and Replacement Account is less than the Maximum Depreciation ; .. �.Yr ;•
and Replacement Account Requirement, commencing on the date in Exhibit A l/12 of the � +
Annual Depreciation and Replacement Account Requirement; and
(6) on the first day of each month the remaining balance to the Surplus Account.
(b) Except as provided in Section 603, moneys in the Depreciation and Replacement Account
will be used by the City for the purpose of making replacements and repairs to the System in order to
keep the System in good repair and working order and to assure the continued effective and efficient '
operation of the System.
(c) Moneys in the Surplus Account are to be expended for the following purposes as
determined by the Governing Body: sf`
(1) paying the cost of the operation, maintenance and repair of the System to thetE.
extent necessary after the application of the moneys held in the Operation and Maintenance
Account and in the Depreciation and Replacement Account; 4,
s a 7K Kf (2) paying the cost of extending, enlarging or improving the System; '
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(3) preventing default in, anticipating payments into or increasing the amounts in the
" accounts confirmed or established in Section 401, the Principal Account, the Interest Account, the
rry Reserve Account or the Depreciation and Replacement Account, or establishing or increasing the
„i...
amount of any debt service account or debt service reserve account created by the City for the
payment of any System Revenue Bonds subsequently issued; or
(4) redeeming and paying prior to maturity, or, at the option of the City, purchasing3fik,
--, in the open market at the best price obtainable not exceeding; the call price (if any bonds are ._������4���t�;•t,,:;.i;
callable), the Bonds or any other System Revenue Bonds of the City hereafter issued under the
conditions hereinafter specified and standing on a parity with the Bonds, including principal,
redemption premium, if any, and interest. 4
t�
(d) All amounts paid and credited to the Operation and Maintenance Account will be
expended solely for the purpose of paying the Current Expenses of the System.
(e) No moneys derived by the City from the System will be diverted to the general
governmental or municipal functions of the City.
If the deposits to the Operation and Maintenance Account and the Depreciation and
>� Replacement Account (the "OMDR Deposits") required under this Section are greater than the OMDR is� r �a<,1�
Deposits required in the User Charge Ordinance, the OMDR Deposits under the User Charge Ordinance '�4 a "''t't ',f
ft��a.tr;
i will be deemed a credit toward OMDR Deposits required under this Section. If the OMDR Deposits lY�;�IM
required under this Section are less than those required in the User Charge Ordinance, OMDR Deposits
'. under this Section will be deemed a credit to QIVIDR Deposits required under the User Charge Ordinance.
Section 603. Deficiency of Payments into und and Accounts. �. ,
o s t '
!^ ,` .
yy p 7
a If the Revenues are insufficient to make any payment on any date specified in this
Article, the City will make good the amount of the deficient b making additional payments out of the
� Y b Y Y g ' P Ym
first available Revenues for application in the order specified in Section 602
<<� b If the moneys in the Principal Account the Interest Account or the Reserve Account are
not sufficient to pay the principal of and interest on the Bonds as and when the same become due, the City
If will apply moneys in the Surplus Account and the Depreciation and Replacement Account to prevent any
default in the payment of the principal of and interest on the Bonds..,
Section 604. Transfer of Funds to Paving Agent. The City Administrator is authorized and
directed to make the payments to the Principal Account and the Interest Account as provided in Section,
602, and, to the extent necessary to prevent a default in the payment of the Bonds, from the Reserve
Account, the Surplus. Account and the Depreciation and Replacement Account as provided in Sections 1;,vt-
a't'� �
602 and 603, sums sufficient to pay the Bonds when due, and to forward amounts to the Paying Agent in a
manner which ensures the Paying Agent will have sufficient available funds on or before the second
Business Day immediately preceding the dates when on the Bonds are due, Upon the pa ym ent Ft,
of all principal and interest on the Bonds, the Paying Agent will return any excess funds to the City. �?iI
Except as otherwise provided in the Indenture, all moneys deposited by the City with the Paying Agent
are subject to the provisions of this Ordinance.
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ARTICLE VII
DEPOSIT AND INVESTMENT OF MONEYS
Section 701. Investment of Moneys. Moneys in the Interest Account, the Principal Account, the
Construction Account, the Debt Service Account and the Reserve Account are assigned by the City to the
Authority to secure the City's obligations under this Ordinance and the City acknowledges that moneys in
# the Interest Account, the Principal Account, the Construction Account, the Debt Service Account and the �a� } ;'i,{`'`;Y
t: Reserve Account will be invested by the Authority, subject to the Arbitrage Instnictions, in Investment
Securities in accordance with Section 4.9 of the Indenture. Moneys in cacti of the other funds and A
1 accounts created or ratified and confirmed by this Ordinance may be invested by the City in obligations as ;a
may be permitted by law, but no investment will be made for a period extending longer than the date 'rt
when the moneys invested may be needed. All earnings on any investments held in any fund or account
will accrue to the applicable fund or account. In detennining the amount held in any fund or account 3t ,
t under this Ordinance, obligations will be valued at the lower of cost or market value. If the amount in any C� t;;`',,';•y
fund or account held within the Treasury of the City is greater than the required amount, the City may r.ctty,
transfer the excess to the Revenue Fund.
Fjy�i'•t trY`g, k '�t
ARTICLE VIII
4i•if 9kY�?�'t7F7t`�k'��1,'r'1+*!.'.
J ri;•C if Se:'
1 PARTICULAR COVENANTS OF THE CITY
;I Section 301. Efficient and Economical Operation. The City will continuously own and will
F`Jf(li 4 7.+F�Y
' operate the System in an efficient and economical manner and will keep and maintain the System in good
7Ft,�,Ct9 ttu.
repair and working order. ,, ��, , ` .
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Section 502. Rate Covenant. The City will fix, establish, maintain and collect rates and charges y,'s`,:z'�A� ::..
?' for the use and services furnished by or through the System to produce income and revenues sufficient to
r; (a) pay the costs of the operation and maintenance of the System; (b) pay the principal of and interest on
r the Bonds as and when due; c) enable the City to have in each Fiscal Year Net Revenues Available for
Debt Service of riot less than I10% of the amount required to be paid by the City in the Fiscal Year on
• �u••''ir j1'�i�).siT rs N.`ii'
account of both principal of and interest on all System Revenue Bonds at the time outstanding, provided `?< v , z, ::.y.i
that interest on any SRF Pro gram Bonds will be reduced by the SRF Subsidy, if any; and (d) P rovide
,t�•�'.1,,:�.,,�.r,�r{ax>°'
reasonable and adequate reserves for the payment of the Bonds and the interest thereon and for the �: t '•.t':'t%�
protection and benefit of the System as provided in this Ordinance. The City will require the prompt
payment of accounts for service rendered by or through the System and will promptly take whatever ;z �� r.,Y'i,,,,.,
action is legally permissible to enforce and collect delinquent charges.
Section 503. Reasonable Charges for all Services. None of the facilities or services provided by
„'�i�:f Cr},£�.ti of "+la•i
the System will be furnished to any user (excepting the City itself) without a reasonable charge being s"F"�l
made therefor. If the income and revenues derived by the City from the System are insufficient to pay the
���,r�a��,��
reasonable expenses of operation and maintenance of the System and the principal of and interest on the
Bonds when due, '
the City will pay into the Revenue Fund a fair and reasonable payment in accordance
with effective applicable rates and charges for all services or other facilities furnished to the City or any of
its departments by the System.
E' Section 304. Annual Bud et. Prior to the commencement of each Fiscal Year, the City will cause
a budget setting forth the estimated receipts and expenditures of the System for the next succeeding Fiscal
Year to be prepared and filed with the City Clerk. The City Clerk, within 30 days after the end of the � ' � �x;�W„�,�':
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current Fiscal Year, will mail a copy of the budget to the Bondowner and the Trustee. The annual budget
will be prepared in accordance with the laws of the State.
-0
Section 805. Annual Audit.
(a) Promptly after. the end of each Fiscal Year. the City will cause an audit of the System for
the preceding Fiscal Year to be made by a certified public accountant or firm of certified public tr,,,r ,,
accountants employed for that purpose and aid from the Revenues. 'The annual audit will cover in
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reasonable detail the operation of the System during the Fiscal Year.
ji (b) Within 180 days after the end of the City's Fiscal Year, a copy of the annual audit will be
1 filed in the office of the City Clerk, and a duplicate copy of the audit will be mailed to the Bondowner and
l the Trustee. The annual audit will be open to examination and inspection during nonnal business hours 1,k .
b an taxpayer, an user of the services of the System, any Owner of the Bonds, or anyone acting for or
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on behalf of the taxpayer, user or Owner. " mss};•
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(a) As soon as possible after the completion of the annual audit, the Governing Body will , . *"'Y
review the annual audit, and if the annual audit reveals any breach of this Ordinance, the City agrees to
promptly cure the breach.
i'
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�.' Section 806. Performance of Duties. The City will faithfully and punctually perform all duties
.
and obli ations with respect to the operation of the System now or hereafter imposed upon the City b the '`•}} �
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Constitution and laws of the State and the provisions of this Ordinance. 'h S; nzti rT rya.,,
Section 807.
Tax Covenants.
(a) The City will comply with all applicable provisions of the Code, including Sections 103 ;�f��,,ft�;�s-�,�•.,'�.
and 141 through 150, necessary to maintain the exclusion of interest on the Authority Bonds from mossrt?s '
income for federal income tax purposes. The City will not use or permit the use of an proceeds of the
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Bonds or any other funds of the City, nor take or permit any other action, or fail to take any action, whichtf {, ,„.t� ` 4
would adversely affect the exclusion of interest on the Authority Bonds from gross income for federal ;{) ` `i �`�y= '+ig(;
income tax purposes. The City will adopt ordinances or resolutions and take other actions necessary to �y��Efff„
comply with the Code and with other applicable future law, in order to ensure that the interest on the
'
Authority Bonds will remain excluded from federal gross income.
ty �
The City 1 will use the proceeds of the Bonds as soon as practicable for the purposes for
which the Bonds are issued, and (2) will not invest or directly or indirectly use or permit the use of any
;1 3 proceeds of the Bonds or an other funds of the City in an manner, or take or omit to take an action, that
would cause the Authority Bonds to be arbitrage bonds within the meaning of Section 148(a)of the Code.
(c) The City will not use any portion of the proceeds of the Bonds, including any investment
income earned on the proceeds, directly or indirectly, (1) in a manner that would cause any Bond to be a
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"private activity bond"within the meaning of Section 141(a)of the Code, or(2)to make or finance a loan to
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any person. '
(d) The City will pay to the Trustee, for deposit to the Interest Account and subsequent
transfer as provided in the Indenture, an amount equal to arbitrage rebate and the costs incurred in
connection with determining arbitrage rebate, at the times required by the Arbitrage Instructions. The
A . . paragraph payment
provisions of this will survive the in full or defeasance of the Bonds,
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ARTICLE 1X
.f�TtJ��tir; u
ADDITIONAL BONDS
c.F Section 901. Prior Lien Bonds. The City will not issue any debt obligations payable out of the
Net Revenues which are superior in lien, security or otherwise to the Bonds. i ;�4� .i }+�k,
Section 902. Parity Lien Bonds or Obligations.
— F; a
+ 'F'�4
`1 (a) The City will not issue any additional bonds or other long-term obligations payable out of r:,'M.
the Net Revenues of the System which stand on a parity or equality with the Bonds unless the following ;
conditions are met:
If
(1) the City is not in default in the avment of principal or interest an the Bonds or h ?
pa vi
;A any Parity Bonds or in. making any deposit into the funds and accounts under this Ordinance or
any Parity Ordinance; and
(2) the City provides to the Bondowner and the Trustee a certificate showing either
of the :followin 1,
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(A) the average annual Net Revenues as set forth in the two most recent
:<< annual audits for Fiscal Years preceding the issuance of additional bonds, are at least
110% of the average annual debt service on the System Revenue Bonds, including the : 'i,i4''
> ,f; additional bonds proposed to be issued, to be paid out of the Net Revenues in all a
succeeding Fiscal Years. Interest to be paid on any SRF Program Bonds may be reduced
by the SRF Subsidy, if any. If the City has made any increase in rates for the use and fL :;
services of the System and the increase has not been in effect during all of the two Fiscal
Years for which annual audits are available, the City may add the additional Net n s.
Revenues which would have resulted if the rate increase had been in effect for the entire
s;
period to the audited Net Revenues, as certified by the Consultant; or
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(B) the estimated average annual Net Revenues Available for Debt Service
for the two Fiscal Years immediately following the Fiscal Year in which the ,•
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improvements to the System being financed by the additional bonds are to be in
g
` �, commercial operation, as certified by the Consultant, is at least 110% of the avera e .
annual debt service on the System Revenue Bonds, including the additional bonds
r
proposed to be issued, to be paid out of the Net Revenues Available for Debt Service in
succeeding Fiscal Years following the commencement of commercial operation of the
improvements. Interest to be paid on any SRF Program Bonds may be reduced byte
't SRF Subsidy, if any. In detennining the amount of estimated Net Revenues Available for „
FY
Debt Service for the purpose of this subsection, the Consultant may adjust the estimated -t� '/N''
t, ?� 4. . �?'3
N . net income and revenues by adding the estimated increase in Net Revenues Available for
t .F
,P Debt Service resulting from any increase in rates for the use and services of the System r �
.approved by the City.
,.
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(b) If the conditions set forth in this Section are satisfied, the City (i) may issue additional '
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revenue bonds or other obligations of the City on a parity with the Bonds and that enjoy complete equality
of the lien on the Net Revenues with the Bonds, (ii) may make equal provision foi paying the additional t
revenue bonds or other obligations from the Revenue Fund, and (iii) may secure the additional revenue
r
,. ..
bands or other obligations by funding reasonable System debt service accounts and debt service reserve
f
.4 accounts from the Net Revenues.
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•� � J rr
Section 903° Junior Lien Bonds. Nothing in this Article prohibits or restricts the right of the City
mkt
` to issue additional revenue obligations, including revenue bonds, for the purpose of extending, improving,
enlarging, repairing or altering the System, that are subordinate to the Bonds if at the time of the issuance N ,f
of the additional revenue obligations the City is not in default in the performance of any covenant art,y, F, ?7,
'< agreement in this Ordinance. If the City is in default in pay in� either interest on or principal of the
ty ' brxt; �a
Bonds, or if the Reserve Account is not fully funded, the City shall not make any payments on then*tC,k,'� 6jf�y)
subordinate revenue obligations until the default is cured. Subject to the lirnitatians in this Section, the
City may make provision for paying the principal of and interest on the subordinate revenue bonds or r
�� AVN•t%•.ff
obligations from moneys in the Revenue Fund. 14
+ Section 904. Refundir�._Bonds. The City may, without complying with the provisions of Section
902, refund any of the Bonds in a manner which provides debt service savings to the City, and the , 44
refunding bonds so issued will be on a. aril with an of the Bonds that are riot refunded. If the Bonds
parity Y
are refunded in part and the refunding bonds bear a higher average rate of interest or become due on a � ±'.f. ' °•..
date earlier than that of the Bonds which are refunded, the City must obtain the prior written consent of i'4s •`i
"1 caner and DNR to the issuance of the refunding bonds.
,. the Bondo i
g, E•. f
ARTICLE X
DEFAULT'AND REMEDIES
i TF,
Section 1001. Event of Default. If (i) the City defaults in the payment of the principal of or
.'
f, interest on any of the Bands, or (ii) the City or its Governing Body or any of its officers, agents or '
employees fails or refuses to comply with an provision of this Ordinance, the Constitution or statutes of
c j�A f�pMh 1,,
P Y Y P r >� '"•'<ti�st�s�.
the State, the Purchase Agreement or the Revolving Fund Agreement and default continues for a period of
st
60 days after written notice specifying the non-payment default has been given to the City by the Trustee,
. ';
the Authority, DNR or the Owner of any Bond then Outstanding, at any time thereafter and while the
default continues, the City shall pay to DNR the penalties assessed by DNR in accordance with the rv� ty,,L
Regulations. The penalties will be assessed as a reduction in the credit provided in Section L02 La 2 A
P,
f :t Section 1002. Remedies.
?s
(a) The provisions of this Ordinance constitute a contract between the City and the Owners
:M rr
;•;., of the Bands. The Ov✓ner or Owners of not less than 10% in principal amount of the Bonds at the time .: ;��t• 'r�..��ft
Outstanding have the right for the equal benefit and protection of all Owners of Bonds similarly situated: � �
. ��: eta
'r
(1) by any proceeding at law or in equity to enforce the rights of the Owner or
Owners against the City and its officers, agents and employees, and to compel the performance by y IV”
the City of its duties and obligations under this Ordinance, the Constitution and the laws of theF.,
�4} State;
:i �
(2) by any proceeding at law or in equity to require the City, its officers, agents and
employees to account as if they were the trustees of an express trust; and t � .
r g.
(3) by any proceeding at law or
in equity to enjoin any act or thing which is unlawful
., or in violation of the rights of the Owners of the Bonds.
e � .
(b) Any amounts paid on the Bands to the Owners will be applied first to interest and second
to principal, to the extent due and payable.
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Section 1003. Limitation on Rights of Bondowners. No Owner has any right in any manner
n whatever by the Owner's action to affect, disturb or prejudice the security granted and provided for in, or
enforce any right under, this Ordinance, except in the manner provided in this Ordinance. All proceedings
at law or in equity will be for the equal benefit of all Owners.
Section 1004. Remedies Cumulative. No remedy conferred upon the Owners is intended to be
exclusive of any other remedy. Each remedy is in addition to every other remedy and may be exercised1= ;� � �,;<,
without exhausting any other remedy conferred under this Ordinance. No waiver by any Owner of an
default or breach of duty or contract of the City under this Ordinance will affect any subsequent default or
breach of duty or contract by the City or impair any rights or remedies thereon. No delay or omission of
' any Owner to exercise any right or power accruing upon any default will impair any right or power or will s
be construed to be a waiver of any default. Every substantive right and every remedy conferred upon the ,
Owners of the Bonds by this Ordinance may be enforced and exercised from time to time and as often as
' . may be expedient. If any Owner discontinues any proceeding or the decision in the proceeding is against..,•
the Owner, the City and the Owners of the Bands will be restored to their former positions and rights
I t` w
5 ty P ��f�;;,.,,.
r under this Ordinance. ;r,�y,,i K”;>>' • ..,
Section 1005. No Obligation to Levy Taxes. Nothing in this Ordinance imposes any duty or
obligation on the City to leery any taxes either to meet any obligation incurred under this Ordinance or to
.�,,. ,sf} .+f
pay the principal of or interest on the Bonds. �F�,fr,'�'�` ,<4 t >u.
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;p ARTICLE XI `r�t�
DEFEASANCE
Section 1101. Defeasance. When all of the Bonds have been paid and discharged, the provisions }
of this Ordinance (other than Section 807) will terminate. Bonds will be treated as paid and dischargedis
within the meaning of this Ordinance if the City has deposited with the Paying Agent, or other bank or
trust company located in the State, having full trust powers and meeting the requirements of a successor
P Y 6 P g q ��; `i�^r', t.Y•.
Trustee under the Indenture, i) moneys and non-callable Defeasance Securities which, together with
<< interest to be earned, as evidenced by the written report of an independent certified public accountant will
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be sufficient for the payment of the principal and redemption premium, if any, of and interest to accrue on
the Bonds to the date of maturity or redemption, plus an additional premium on Bonds being optionally
.�' redeemed equal to interest that would otherwise accrue on the Bonds for an additional 30-day period, and
} (ii) an opinion of Bond Counsel, addressed to the Authority and the Trustee, that providing for the
payment of the Bonds by depositing moneys or Defeasance Securities with the Paying Agent in
' accordance with this Section will not cause the interest on the Authority Bonds to be included in gross .
income for federal income tax purposes. If any Bonds will be redeemed prior to maturity, the City must 2" : , •L
have given irrevocable instructions to the Paying Agent to redeem the Bonds. Any moneys and
obligations which at any time are deposited with the Paying Agent or other bank by or on behalf of the
City, for the purpose of paying and discharging any of the Bonds, are assigned, transferred and set over in
"s trust for the applicable Owners, and the moneys and obligations are irrevocably appropriated to the
W. payment and discharge of the applicable Bonds.
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ARTICLE XII
(z,
� AMENDMENTS '' `�',rt !�•
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Section 1201. Amendments,
°k
(a) Any provision of the Bonds or of this Ordinance may be amended by an ordinance with
s' the written consent of the Authority and the 'rivstee. Consent must be evidenced by an instrument
executed by the Authority and the "Trustee, acknowledged or proved in the manner of a deed to be
` ;; recorded,and filed with the City Clerk. In addition, the prior written consent of the Bondowner and DNR
t.�;K Y P
is required for any amendment which would:.
(1) extend the maturity of any payment of principal or interest on any Bond;
y
(2) reduce the amount of principal or interest payable on any Bond; or
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(3) permit the priority of any Bond over any other Bond. ;
(b) No amendment will be effective until (i) the City has delivered to the Bondowner, the
NR an opinion of Bond Counsel stating that the amendment s permitted by this Ordinance `� t ^;
Trustee and D d i
p
and the Act, complies with their respective terms, is valid and binding upon the City in accordance with
its terms and does not adversely affect the exclusion of interest on the Authority Bonds from gross income
for federal income tax purposes, and (ii) the City Clerk has on file a copy of the amendment and all
required consents.
ARTICLE XIII
MISCELLANEOUS PROVISIONS
Section 1301. Further Author. The officers of the City, including the Mayor, the City
Administrator and the City Clerk, are authorized and directed to execute all documents and take the
actions as are necessary or advisable in order to carry out and perform the purposes of this Ordinance and ''= ` ' s 4r
a r
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to make ministerial changes in the documents approved by this Ordinance which They may approve. The
T
execution of an document or taking of an related action constitutes conclusive evidence of the necessity
y g y
< ;;,• or advisability of the action or change.
Section 1302. Severability. If any section or other part of this Ordinance is for any reason held ,
f.•ry�I
invalid, the invalidity will not affect the validity of the other provisions of this Ordinance.
' i. Section 1303. Governing law. This Ordinance is governed by and will be construed in
}` � accordance with the laws of the State. t
Section 1304. Effective Date. This Ordinance is in full force and effect from and after its
passage by the City Council .
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fd 10/01/2001 10:07 FAX 818 221 1018 GILJlOI2E & F3EL1, 0002/009
ciry orjOenoe,MWouri
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EXHWIT A x
AIDDrrIONAL PROVISIONS r"
1. Original Principal Q w, ction 201, $24,875,000; of which $10,231,750 is applied '2
' _min Ans u>,t - Sc
c to the refunding of the Refiuided Bonds (the "Refunding Portion") and $14,643,250 is applied to extend ,
and improve the System(the"Ncw Money Portion"). .;41=1
t�t� •
' 2.. it Scj�edule-Section 243. ,
Maturity Principal Interest ±F't
f,` Ju=mil Amount Rate
2003 $ 785,000 3.000%
2004 810,000 3.000
i 2005 835,000 3.000 '
2006 860,000 5.000 1
2007 905,000 5,000
2008 950,000 5.000 t� �t
2009 995,000 5.250
t 2010 1,050,000 5.250t {
2011 111051000 4.000
2012 1,145,000 5,375
2013 1,210,000 5.375
r.
2014 1,275,000 5.375 '1
I ' 2015 1,340,000 5.375 '
�.' 1,41 5,000 5.375 '
!'s ads 2016
F' z�ek,t• 2017 1,490,000 5.375
iy 2018 1,570,000 5.375
4 2022 7,135,000 5.000
h 7�^
t? 3. Purchase Price Section 210. $26,141,493.35.
's. 4. Administrative Fee Calculation Dutes - Section 211. The Business Day preceding each x
July 1,commencing on the Business Day preceding July 1,2003.
5. Mandatory Redemption-Section 301,
, .
d;
July 1,2022 Term Bonds
}�
�¢'::•'t
Principal
MY—1 Amount
2019 $1,655,000 s
2020
); 1,740,000
r 2021 1,825,000
2022'" 1,915,000 ti
,.
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Qp' Redem t n-_Section 302,
At the option of the City, Bonds maturing on July 1, 2022 may be called for redemption and
'+ payment prior to maturity in whole or in part on any date with the consent of the Bondowner, or on each
June 1 and December 1 commencing unc 1, 2011, at the redemption rice of 100% of the principal
g P � P P � P ,t...�
! amount of the Bonds redeemed,plus accrued interest to the redemption date. #
7, osts o 5 suarZcc-Section 5Q1. $377,437.30,
a.�
7•�d•
S. Disbursement from Construction Account on Issuance Dt�te-Section_501(10.
` + Principal Portion of Mandatory Purchase Price of'Refunded Bonds $10,000,000.00
Interest Portion of Mandatory Purchase Price of Rcfultded Bonds 76.5 .00
,.t}y
Total Disbur $10,076,500.00
semcnt
�,.. l4.
9, Lxmual Deareciation and 12eplaccmcnt Account R.e uiremn t - Section 602. $60,000, �, � ,
commencing on July 1,2003. `'� '� 10. lylaximum Depreciation and RM1acemant_Account Rcauiremenl—Section 602.$500,000. r;
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EXHD3IT B 1 zt 3r
FORM OF BOND
r f tr( R4
r�;t as��t�t . •'
[THIS BOND IS TRANSFERABLE ONLY TO ANY SUCCESSOR TO THE
t
STATE ENVIRONMENTAL IMPROVEMENT AND ENERGY
RESOURCES AUTHORITY OR ITS ASSIGNS)
rf ��; •„y';tr
;X UNITED S TATES OF AMERICA
,STATE OF MISSOURI +
r:
R
Registered it N 7
Registered
f
No.R-
�;..r
CITY OF JEFFERSON, M.[SSOURI
SEWERAGE SYSTEM IMPROVEMENT AND REFUNDING REVENUE BOND
ty; (STATE REVOLVING FUND PROGRAM)
a^� SERIES 2001B
Interest Rates Maturity Dates
Dated Date t
. See Schedule I See Schedule I November 1, 2001 ? • �t' k
REGISTERED OWNER.: STATE ENVIRONMENTAL IMPROVEMENT AND ENERGY
RESOURCES AUTHORITY
a
PRINCIPAL *
L AMOUNT: DOLLARS”
V.
THE CITY OF JEFFERSON, MISSOURI, a constitutional charter city and political subdivision
of the State of Missouri the "City"), ` • _ 4' `'>'�
F ( ty ), for value received, hereby promises to pay to the Owner shown
above, or registered assigns, the Principal Amount shown above in installments in the amounts and on the
' Maturity Dates referenced above, and to pay interest thereon at the annual Interest Rates referenced above `
(computed on the basis of a 360-day year of twelve 30-day months), payable semiannually on January 1 .
and July I in each year, commencing July 1, 2002 (each an Interest Payment Date"), from the Dated
Date shown above or from the most recent Interest Payment Date to which interest has been paid or duly
tt provided for until the Principal Amount has been paid. {. r• ��xy��i`';�.1
s, The principal of and redemption premium, if any, on this Bond will be paid at maturity or upon
P P P P Y
'i. earlier redemption to the person in whose name this Bond is registered at the maturity or redemption date,
upon presentation and surrender of this Bond at the principal office of UMB BANK, N.A. in the City of
' St. Louis, Missouri the "Pa in Agent"). The interest payable on this Bond on an Interest
( Y g g )• P Y y Payment
Date will be paid by check or draft mailed by the Paying Agent to the person in whose name this Bond is kx
;e registered on the registration books maintained by the Paying Agent at the close of business on the Record ``'
40
Date. The Record Date is the fifteenth day (whether or not a business day) of the calendar month next fi• y�:'
preceding the Interest Payment Date. The principal of and redemption premium, if any, and interest on
a the Bonds is payable by electronic transfer in immediately available federal Rinds to a bank in the
continental United States of America pursuant to instructions from the Owner received by the Paying
,i
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Agent prior to the Record Date. The principal of, redemption premium, if any, and interest on this Bond
is payable in lawful money of the United States of America.
{
This Bond is one of a duly authorized series of bonds of the City designated "Sewerage System
Refunding and Improvement Revenue Bonds (State Revolving Fund Program) Series 2001B aggregating
the "Bonds"), by the City for the purpose of extending and
the principal amount of 5 )
improving its sewerage system (together with all future improvements and extensions. the "System"), ,:Ey: - :}
A'M under the authority of and in full compliance with Chapter 250 of the Revised Statutes of Missouri and
p Y ' governing y City
''a l pursuant to an election duly held in the City and an ordinance adopted b the overnin body of the Ci k`���1.
(the Ordinance").
Certain Bonds are subject to mandatory redemption and payment prior to maturity pursuant to the
mandatory redemption requirements of the Ordinance, at a redemption price equal to 100% of the
1 principal amount plus accrued interest to the redemption date.
t At the option of the City, certain Bonds may be called for redemption and payment prior to
maturity in whole or in part on any date with the consent of the Bondowner. as provided in the Ordinance.
fr{utL}`4 �r1s it
Bonds will be optionally redeemed in part in integral multiples of $5,000 (unless otherwise
approved in writing by the Bondowner) from the maturities selected by the City with the prior written
` 1 consent of the Bondowner. Upon redemption, the sinking fund redemption amounts for each maturity
`'' will be proportionately reduced, subject to rounding to integral multiples of $5,000 (unless otherwise
approved in writing by the Bondowner). The City will give written notice to 'he Paying Agent, as t rustee
frk( ,
itPiAMi
(the "Trustee"), designating the amount of each maturity redeemed and the reduction in each sinking fundt # r� ;
installment, subject to verification by the Trustee. In exercising its option to redeem the Bonds, the City IV ',l:• ,
will deposit with the Paying Agent, in addition to the principal of, premium, if any, and interest on they
Bonds, an additional premium equal to 30-da s interest on the Bonds to be redeemed for an additional ,
p q Y x��s�i�•t �t,a
30-day period.
The Paying Agent will give notice of redemption, unless waived, by mailing a redemption notice1 :'.,.
by registered or certified mail at least 45 days prior to the date fixed for redemption, to the Owner of each
Bond to be redeemed at the address shown on the Bond Register. If notice of redemption has been given
or waived, the Bonds or portions of Bonds called for redemption will become due and payable on the �t ,,., � ;4
redemption date at the redemption price specified in the notice. From and after the redemption date the
f+.° 1?;`::;';;y
Bonds called far redemption will cease to bear interest date unless the City defaults in the payment of the {rs
�;� K.
redemption price. ll,.�, i
xjs,A The Bonds are limited obligations of the City payable solely from, and secured as to the payment
z,: t Revenues (as defined in the Ordinance). The taxing
of principal and interest by a pledge of, the Ne
..„,
„(
power of the City is not pledged to the payment of the Bonds either as to principal or interest. The Bonds
d err do not constitute a general obligation of the City or an indebtedness of the City within the meaning of any '`r .• '
r. t constitutional, statutory or charter provision, limitation or restriction. Under the conditions set forth in
VkF, f'nyt .;7 ',.
?{ the Ordinance, the City has the right to issue additional parity bonds payable from, and secured by, the :r .,� ;r }7
Net Revenues. t
The City covenants with the Owner of this Bond to keep and perform all covenants and
-' agreements contained in the Ordinance, and the City will fix, establish, maintain
b and collect rates, fees ;,
and charges for the use and services furnished by or through the System to produce Revenues sufficient to ;: ',
pay the operation and maintenance costs of the System, pay the principal of and interest on the Bonds and
provide reasonable and adequate reserve funds. Reference is made to the Ordinance for a description of F � f ��Y���'
the agreements made by the City with respect to the collection, segregation and application of the i jr
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Revenues, the nature and extent of the security for the Bonds, the rights, duties and obligations of the Citya ;,�;� gY a
with respect to the Bonds,and the rights of the Owners.
The Bonds are issuable in the form of fully registered Bands without coupons in the
denomination of$1,000 or any integral multiple of S1,000.
t,
This Bond may be transferred or P,exchanged, as provided in the Ordinance, only upon the
g
registration books kept for that purpose at the above-mentioned office of the Paying Agent. Upon
surrender of any Bond at the principal office of the Paying Agent, the Paying Agent will transfer or
'.; . exchange the Bond for a new Bond or Bonds in any authorized denomination of the same maturity and in
the same aggregate principal amount as the Bond which was presented for transfer or exchange. All
Bonds presented for transfer or exchange must be accompanied by a written instrument of transfer or
authorization for exchange, in a form and with guarantee of signature satisfactory to the Paying Agent, - t
duly executed by the Owner or by the Owner's authorized agent. All Bonds presented for transfer or f t
exchange must be surrendered to the Paying Agent for cancellation. For every exchange or transfer of
Bonds the City or the Paying Agent may leery a charge sufficient to reimburse it for any tax, fee or other
governmental charge req uired to be paid for the exchange or transfer. The charge must be paid by the
person requesting the exchange or transfer. Payment of the charge is a condition precedent to the
,1;{ exchange or transfer.
� '
This Bond will not be valid or be entitled to any security or benefit under the Ordinance until the
t? Certificate of Authentication has been executed by the Paying Agent.
IT IS HEREBY CERTIFIED AND DECLARED that all acts, conditions and things required to
y y fT4
PP P P t .
i
exist happen and be performed precedent to the issuance of the Bonds have existed, happened and been
performed in due time, form and manner as required by law, and that before the issuance of the Bonds, ti k t Jas•::,.;
provision has been duly made for the collection, segregation and application of the income and revenues
of the System as provided in the Ordinance.
�.. •,1tn��J� r, tc
,•.,f,,,a IN WITNESS WHEREOF, the City of Jefferson, Missouri, has executed this Bond by causing it
t
[ to be signed b the manual or facsimile signature of its Mayor and attested by the manual or facsimile
im Y
signature of its City Clerk, with its official seal affixed or imprinted.
(SEAL) CITY OF JEFFERSON, MISSOURI
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ATTEST:
B
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i City Clerk Mayor 'f
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UP-
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
' UMB BANK,N.A.
Print or Type Name of Transferee
r t�
` the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints UMB Bank,
(.<;? N.A. agent to transfer the within Bond on the registration books kept by the Paying Agent, with full
power of substitution in the premises.
STATE ENVIRONMENTAL IMPROVEMENT ;;:• t
AND ENERGY RESOURCES AUTHORITY t :
re.cyr ° x.da•.
• r>`� By: 3 ,
" Dated:
, !
Charles D. Banks, Chairman .
NOTICE: The signature to this assignment must '
correspond with the name of the Owner as it try
( ' appears upon the face of the within Bond in
every particular.
i
Signature Guaranteed By: ,
Authorized Signatory
UMB Bank, N.A. '
NOTICE: Signature(s) must be guaranteed by
an eligible guarantor institution as defined by
'1 SEC Rule 17Ad-15 (17 CFR 240.17Ad-15). rM
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