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Record #: SO2015-6215   
Type: Ordinance Status: Passed
Intro date: 7/29/2015 Current Controlling Legislative Body: Committee on Finance
Final action: 9/24/2015
Title: Issuance of Second Lien Wastewater Transmission Revenue Bonds, Series 2015
Sponsors: Emanuel, Rahm
Attachments: 1. SO2015-6215 (V1).pdf, 2. SO2015-6215.pdf, 3. O2015-6215.pdf
SUBSTITUTE ORDINANCE






AUTHORIZING THE ISSUANCE OF

WASTEWATER TRANSMISSION REVENUE BONDS, SERIES 2015, IN AN AMOUNT NOT TO EXCEED $125,000,000, TO ENTER INTO NOT TO EXCEED $100,000,000 OF 2015 SUBORDINATE LIEN OBLIGATIONS AND EXPRESSING OFFICIAL INTENT REGARDING EXPENDITURES FROM THE FUNDS OF THE CITY OF CHICAGO TO BE REIMBURSED FROM PROCEEDS OF OBLIGATIONS TO BE ISSUED BY CITY OF CHICAGO
TABLE OF CONTENTS
Page

ARTICLE I. AUTHORITY AND FINDINGS
Section 1.1. Authority|910|Section 1.2. Findings|910|Section 1.3. Definitions|910|ARTICLE II. SEWER REVENUE FUND AND ACCOUNTS
Section 2.1. Sewer Revenue Fund 18
Section 2.2. Application of Net Revenues Available For Bonds 19
Section 2.3. Deficiencies; Excess 23
Section 2.4. Investments 23

ARTICLE III. DETAILS OF THE 2015 BONDS
Section 3.1. Principal Amount, Designation, Sources of Payment 23
Section 3.2. Purposes 24
Section 3.3. Approval of 2015 Bonds Indenture, Bond Provisions 24
Section 3.4. Determination by Authorized Officer as to Borrowing for the
Refunding of Outstanding Bonds and Restructuring of Existing
Reserve Funds 25
Section 3.5. Sale of 2015 Bonds 25
ARTICLE IV. ESCROW ACCOUNT FOR REFUNDED OBLIGATIONS;
OPERATION OF SEWER REVENUE FUND WHEN NO SENIOR LIEN BONDS ARE OUTSTANDING
Section 4.1. Escrow for Refunded Obligations 28
Section 4.2. Operation of Sewer Revenue Fund When No Senior Lien Bonds
are Outstanding 28

ARTICLE V. GENERAL COVENANTS
Section 5.1. Sewer Rates 28
Section 5.2. Investment of Proceeds 29
ARTICLE VI. DETAILS OF 2015 SUBORDINATE LIEN OBLIGATIONS
Section 6.1. Principal Amount, Designation, Sources of Payment 30
Section 6.2. Purposes 30
Section 6.3. I.E.P.A. Loan Provisions 30
Section 6.4. I.E.P.A. Loans 31
ARTICLE VII. DISPOSITION OF 2015 SUBORDINATE LIEN OBLIGATION
PROCEEDS; CONSTRUCTION ACCOUNT: 2015 SUBORDINATE LIEN OBLIGATIONS
Section 7.1. Deposit Into the 2015 Subordinate Lien Debt Service Reserve
Sub-subaccount 31
Se...

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