HomeMy WebLinkAboutordinance table of contentsORDINANCE NO.
CITY OF MIAMI, FLORIDA
PARKING SYSTEM REVENUE BONDS,
SERIES 2004
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TABLE OF CONTENTS
ARTICLE I DEFINITIONS
Section 101.
Section 102.
Section 103.
Section 104.
ARTICLE II
Section 201.
Section 202.
Section 203.
Section 204.
Section 205.
Section 206.
Section 207.
Section 208.
Page
2
Meaning and Words and Terms 2
Definitions Applicable to the 2004 Bonds if Issued as Variable
Rate Bonds 2
Definitions Applicable to 2004 Bonds Regardless of Rate Structure 7
Rules of Construction 7
AUTHORIZATION OF 2004 Bonds 8
Authorization of 2004 Bonds 8
Authentication and Delivery of Bonds. 8
Execution and Form of Bonds 9
Exchange of Bonds 24
Negotiability, Registration and Registration of Transfer of Bonds 24
Ownership of Bonds 24
Application of Proceeds of Bonds 24
Mutilated, Destroyed, Lost, or Stolen Bonds 25
ARTICLE III TERMS OF THE 2004 Bonds IF ISSUED AS VARIABLE RATE
BONDS 26
Method and Place of Payment; Paying Agent and Dating 26
Determination of Interest Rates and Interest Periods During
Commercial Paper Mode. 27
Determination of Interest Rate During Daily Mode 28
Determination of Interest Rate During Weekly Mode 28
Determination of Term Rate(s) and Fixed Rate 29
Failure to Establish Term Rate or Fixed Rate 29
Alternate Rate for Interest Calculation 29
Changes in Mode. 29
No Partial Mode Changes. 31
Mandatory Conversion to Fixed Rate Mode 31
Section 301.
Section 302.
Section 303.
Section 304.
Section 305.
Section 306.
Section 307.
Section 308.
Section 309.
Section 310.
ARTICLE IV REDEMPTION 32
Section 401. Redemption Generally 32
Section 402. Extraordinary Redemption of all Bonds 32
Section 403. Redemption Provisions Applicable to 2004 Bonds if Issued as
Variable Rate Bonds 32
Section 404. Redemption Provisions Applicable to 2004 Bonds if Issued as
Fixed Rate Bonds 35
Use of Government Obligations to Redeem 2004 Bonds 35
Cancellation 36
Section 405.
Section 406.
ARTICLE V PURCHASE OF 2004 Bonds 36
Section 501. Optional Tender of 2004 Bonds in Daily Mode and Weekly Mode 36
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Section 502. Mandatory Purchase at End of Commercial Paper Mode Interest
Periods 37
Section 503. Mandatory Purchase on Any Mode Change Date 37
Section 504. Mandatory Purchase at End of Term Rate Period or upon
Redemption of 2004 Bonds in Fixed Rate Mode 37
Section 505. Mandatory Purchase Upon Expiration Date, Termination Date and
Substitution Date of Liquidity Facility 37
Section 506. Notice of Mandatory Tender for Purchase 38
Section 507. Purchase Fund 39
Section 508. Remarketing of 2004 Bonds; Notices. 39
Section 509. Source of Funds for Purchase of 2004 Bonds 40
Section 510. Delivery of 2004 Bonds 41
Section 511. Delivery and Payment for Purchased 2004 Bonds; Undelivered
2004 Bonds 41
ARTICLE VI LIQUIDITY FACILITIES 42
Section 601. Liquidity Facility. 42
ARTICLE VII CONSTRUCTION FUND ACCOUNTS 43
Section 701. 2004 Project Account 43
Section 702. Payments from 2004 Project Account 43
ARTICLE VIII REVENUES AND FUNDS 43
Section 801. Application of Funds and Accounts under 1998 Bond Ordinance to
the 2004 Bonds 43
Section 802. Funds Held in Trust 43
Section 803. Cancellation of 2004 Bonds 44
Section 804. Security for the 2004 Bonds 44
ARTICLE IX DEPOSITARIES OF MONEY, SECURITY FOR DEPOSITS,
INVESTMENT OF FUNDS, AND COVENANT AS TO
ARBITRAGE 45
Section 901. Security for Deposits 45
Section 902. Investment of Money 45
Section 903. Valuation 45
Section 904. Tax Covenant 45
ARTICLE X GENERAL COVENANTS AND REPRESENTATIONS 47
Section 1001. Payment of Principal, Interest and Premium 47
Section 1002. Construction of 2004 Project 47
Section 1003. Applicability of 1998 Bond Ordinance Covenants and
Representations 47
ARTICLE XI REMEDIES; EVENTS OF DEFAULT 47
Section 1101. Applicability of 1998 Bond Ordinance Remedies and Events of
Default 47
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ARTICLE XII THE TRUSTEE, PAYING AGENT AND TENDER AGENT 48
Section 1201. Acceptance of Trusts 48
Section 1202. The Applicability of Article IX of the 1998 Bond Ordinance to the
Trustee and Paying Agent for the 2004 Bonds. 48
ARTICLE XIII EXECUTION OF INSTRUMENTS BY HOLDERS, PROOF OF
OWNERSHIP OF 2004 Bonds, AND DETERMINATION OF
CONCURRENCE OF HOLDERS 48
Section 1301. Execution of Instruments by Holders 48
ARTICLE XIV MISCELLANEOUS PROVISIONS 49
Section 1401. Applicability of Remaining Terms and Provisions of the 1998
Bond Ordinance 49
Section 1402. Delegation of Selection of Underwriter, and Approval and
Execution of Bond Purchase Agreement 49
Section 1403. Delegation of Approval and Execution of Continuing Disclosure
Certificate 50
Section 1404. Delegation of Approval of and Execution of Documents related to
Bond Insurance, Reserve Product, Liquidity Facility and
Remarketing Agreement 50
Section 1405. Delegation of Approval of Preliminary Official Statement 50
Section 1406. Designation of Qualified Derivative Agreement S0
Section 1407. Authorizations 50
Section 1408. Successorship of City Officers 51
Section 1409. Inconsistent Ordinances 51
Section 1410. Headings Not Part of Ordinance 51
Section 1411. Notices. S2
Section 1412. City, the Board, Department, Trustee and Bondholders Alone Have
Rights Under Ordinance 52
Section 1413. Effect of Partial Invalidity; Incorporation of Recitals 52
Section 1414. State Law Governs 52
Section 1415. Notice 52
Section 1416. Posting 54
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