If, at the conclusion of the hearing, a majority protest has not been filed, the City Council may, by resolution, at the time or times it deems proper, authorize the execution and delivery of an Indenture providing for the following:
(a) The form of the Bonds.
(b) The execution of the Bonds.
(c) The issuance of any part of the Bonds that were the subject of such hearing.
(d) The appointment of one or more banks or trust companies within or without the state having the necessary trust powers as trustee, fiscal agent, paying agent, or registrar for the Bonds.
(e) The execution of such Indenture pursuant to which the Bonds are issued.
(f) The pledge of the Assessments, and, at the discretion of the City Council, any other legally available assets, to secure the payment of the principal or redemption price of, or interest on the Bonds, or any reimbursement or similar agreement with any provider of credit enhancement for the Bonds.
(g) The investment of any Bond proceeds and Assessment proceeds, by the trustee or fiscal agent in any securities or obligations described in such Indenture pursuant to which the Bonds are issued.
(h) The date or dates to be borne by the Bonds and the time or times of maturity of the Bonds and the place or places and time or times that the Bonds shall be payable; provided, however, that no Bond shall mature later than the fiscal year following the last fiscal year in which the Assessments are levied.
(i) The interest, at a fixed rate, to be borne by the Bonds; provided, however, that no such rate shall exceed the maximum rate permitted by any applicable provision of law limiting the maximum interest rate on bonds.
(j) The denominations, form, and registration privileges of the Bonds.
(k) The date or dates on which any of the Bonds are subject to redemption prior to their maturity dates. Bonds may be subject to redemption on any date prior to their fixed maturity from the sources and in the amounts, manner, and prices prescribed by the City Council.
(l) Any other terms and conditions determined to be necessary by the City Council.
SECTION HISTORY
Added by Ord. No. 172,856, Eff. 11-8-99.