(a) The Council, Mayor, and Chief Fiscal Officer shall comply with the requirements of law relative to debt issuance and the administration of the outstanding debt, including those set forth in the Village Charter, the Ohio Revised Code (including Ohio R.C. Chapter 133: Uniform Public Securities Law and Ohio R.C. Chapter 5705: Tax Levy Law), and Federal laws and regulations, including the regulations of the Security and Exchange Commission. In the execution of the provisions of this section, the Village may enter in agreements with experts in the municipal bond market, such as, but not limited to, bond council, investment bankers, financial advisors, underwriters, or any other experts deemed necessary, in order to meet the Federal and State requirements of either an issuance or ongoing annual informational filings, pursuant to the Village's current outstanding and/or newly issued debt.
(b) The Chief Fiscal Officer shall, for all years that the Village has outstanding debt, maintain a detailed listing which itemizes the type of outstanding debt; the name of the outstanding issue; the original issuance ordinance number; the date of the original issuance; the final due date of the issue; the interest rate of the issue; the total amount outstanding and the individual amounts showing the division between general obligation and special assessment portions of the issue; the annual amount required for each individual years principal, interest, and total combined debt payment, and any annual estimated revenue to be derived from the special assessment portions of any bonds thus issued. This detailed listing shall be utilized during the annual budgetary hearings to ensure the proper appropriation of funds for the annual principal and interest payments required in any particular year. The Chief Fiscal Officer shall make an annual report to the Mayor and Council, in December of each year, presenting the information listed above.
(Ord. 2013-36. Passed 6-12-13; Ord. 2016-128. Passed 12-14-16.)