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Record #: SO2018-4552   
Type: Ordinance Status: Passed
Intro date: 5/23/2018 Current Controlling Legislative Body: Committee on Finance
Final action: 6/27/2018
Title: Issuance of Series 2018-1 Water Revenue Project and Refunding Bonds and Series 2018-1 Subordinate Lien Obligations, and associated amendment of Municipal Code Section 2-106-040 regarding powers and duties of Commissioner of Water Management
Sponsors: Emanuel, Rahm
Topic: MUNICIPAL CODE AMENDMENTS - Title 2 - City Government & Administration - Ch. 106 Dept. of Water Management
Attachments: 1. SO2018-4552.pdf, 2. O2018-4552.pdf
SUBSTITUTE ORDINANCE AUTHORIZING THE ISSUANCE OF SERIES 2018-1 WATER REVENUE PROJECT AND REFUNDING BONDS AND ISSUANCE OF SERIES 2018-1 SUBORDINATE LIEN OBLIGATIONS
Table of Contents

PART A INTRODUCTION
ARTICLE I AUTHORITY AND FINDINGS
Section 1.01. Authority|910|Section 1.02. Findings|910|
PART B
DEFINITIONS; SERIES 2018-1 SECOND LIEN BONDS; WATER FUND AND ACCOUNTS
ARTICLE I DEFINITIONS
Section 1.01. Definitions|910|ARTICLE II
DETAILS OF THE SERIES 2018-1 SECOND LIEN BONDS
Section 2.01. Principal Amount, Designation, Sources of Payment 16
Section 2.02. Purposes 17
Section 2.03. Approval, of Twelfth Supplemental Indenture and Additional
Supplemental Indentures for the Series 2018-1 Second Lien Bonds,
Bond Provisions 17
Section 2.04. Sale of Series 2018-1 Second Lien Bonds 19
ARTICLE III WATER FUND AND ACCOUNTS
Section 3.01. Revenue Obligation 22
Section 3.02. Water Fund 22
Section 3.03. Application of Net Revenues Available for Bonds 23
Section 3.04. Deficiencies, Excess 28
Section 3.05. Investments 29

ARTICLE IV
CONSTRUCTION ACCOUNT: SERIES 2018-1 SECOND LIEN BONDS; OPERATION OF WATER FUND ACCOUNTS WHEN NO SENIOR LIEN BONDS ARE OUTSTANDING
Section 4.01. Construction Account: Series 2018-1 Second Lien Bonds —
Establishment. Deposit of Funds, Uses 29
Section 4.02. Operation of Water Fund When No Senior Lien Bonds are
Outstanding 30


i

ARTICLE V
AMENDMENT OF PART B OF THIS ORDINANCE

PART C 2018 SUBORDINATE LIEN OBLIGATIONS
ARTICLE I DEFINITIONS
Section 1.01. Definitions 31

ARTICLE II
DETAILS OF THE SERIES 2018-1 SUBORDINATE LIEN OBLIGATIONS
Section 2.01. Principal Amount, Source of Payment 33
Section 2.02. Purposes 34
Section 2.03. Obligations Provisions 34
ARTICLE III
DISPOSITION OF SERIES 2018-1 SUBORDINATE LIEN OBLIGATION PROCEEDS; CONSTRUCTION ACCOUNT: SERIES 2018-1 SUBORDINATE LIEN OBLIGATIONS; OPERATION OF WATER FUND ACCOUNTS WHEN NO SENIOR LIEN BONDS OR SECOND LIEN BONDS...

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