HomeMy WebLinkAbouttable of contentsORDINANCE NO.
CITY OF MIAMI, FLORIDA
PARKING SYSTEM REVENUE BONDS,
SERIES 2003
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ARTICLE I
Section 101.
Section 102.
ARTICLE II
Section 201.
Section 202.
Section 203.
Section 204.
Section 205.
Section 206.
Section 207.
ARTICLE III
Section 301.
Section 302.
Section 303.
Section 304.
Section 305.
Section 306.
Section 307.
Section 308.
ARTICLE IV
Section 401.
Section 402.
ARTICLE V
Section 501.
Section 502.
Section 503.
Section 504.
ARTICLE VI
Section 601.
Section 602.
Section 603.
Section 604.
ARTICLE VII
Section 701.
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TABLE OF CONTENTS
Page
DEFINITIONS 2
Meaning and Words and Terms 2
Rules of Construction 2
AUTHORIZATION AND TERMS OF 2003 BONDS 2
Authorization of 2003 Bonds 2
Execution and Form of Bonds 4
Exchange of Bonds 11
Negotiability, Registration and Registration of Transfer of Bonds 11
Ownership of Bonds 11
Authentication of Bonds 11
Mutilated, Destroyed, Lost, or Stolen Bonds 12
REDEMPTION 12
Redemption Generally 12
Extraordinary Redemption of all Bonds 12
Selection of Bonds or Portions thereof to be Redeemed 13
Redemption Notice 13
Effect of Calling for Redemption 14
Redemption of Portion of Registered 2003 Bonds 14
Use of Government Obligations to Redeem 2003 Bonds 15
Cancellation 15
CONSTRUCTION FUND ACCOUNTS 15
2003 Project Account 15
Payments from 2003 Project Account 15
REVENUES AND FUNDS 15
Application of Funds and Accounts under 1998 Bond Ordinance to
the 2003 Bonds 15
Funds Held in Trust 16
Cancellation of 2003 Bonds 16
Security for the 2003 Bonds 16
DEPOSITARIES OF MONEY, SECURITY FOR DEPOSITS,
INVESTMENT OF FUNDS, AND COVENANT AS TO
ARBITRAGE 17
Security' for Deposits 17
Investment of Money 17
Valuation 17
Tax Covenant 17
GENERAL COVENANTS AND REPRESENTATIONS 19
Payment of Principal, Interest and Premium 19
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Section 702. Construction of 2003 Project 19
Section 703. Applicability of 1998 Bond Ordinance Covenants and
Representations 19
ARTICLE VIII REMEDIES; EVENTS OF DEFAULT 19
Section 801. Applicability of 1998 Bond Ordinance Remedies and Events of
Default 19
ARTICLE IX THE TRUSTEE 20
Section 901. Acceptance of Trusts 20
ARTICLE X EXECUTION OF INSTRUMENTS BY HOLDERS, PROOF OF
OWNERSHIP OF 2003 BONDS, AND DETERMINATION OF
CONCURRENCE OF HOLDERS 20
Section 1001. Execution of Instruments by Holders 20
ARTICLE XI MISCELLANEOUS PROVISIONS 21
Section 1101. Applicability of Remaining Terms and Provisions of the 1998
Bond Ordinance 21
Section 1102. Delegation of Approval and Execution of Bond Purchase
Agreement 21
Section 1103. Delegation of Approval and Execution of Continuing Disclosure
Certificate 22
Section 1104. Delegation of Approval of and Execution of Documents related to
Bond Insurance and Reserve Product 22
Section 1105. Authorizations 22
Section 1106. Successorship of City Officers 22
Section 1107. Inconsistent Ordinances 23
Section 1108. Headings Not Part of Ordinance 23
Section 1109. City, the Board, Department, Trustee and Bondholders Alone Have
Rights Under Ordinance 23
Section 1110. Effect of Partial Invalidity 23
Section 1111. State Law Governs 23
Section 1112. Notice 23
Section 1113. Posting 24
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