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Record #: SO2018-4641   
Type: Ordinance Status: Passed
Intro date: 5/23/2018 Current Controlling Legislative Body: Committee on Finance
Final action: 6/27/2018
Title: Issuance of Second Lien Wastewater Transmission Revenue Bonds, Project and Refunding Series 2018 and 2018 Subordinate Lien Obligations
Sponsors: Emanuel, Rahm
Attachments: 1. SO2018-4641.pdf, 2. O2018-4641.pdf
SUBSTITUTE ORDINANCE






AUTHORIZING THE ISSUANCE OF
SECOND LIEN WASTEWATER TRANSMISSION REVENUE BONDS, PROJECT AND REFUNDING SERIES 2018 IN AN AMOUNT NOT TO EXCEED $400,000,000 FOR PROJECT COSTS AND/OR REFUNDING PURPOSES, AND AUTHORIZING THE CITY TO ENTER INTO NOT TO EXCEED $200,000,000 OF 2018 SUBORDINATE LIEN OBLIGATIONS
TABLE OF CONTENTS

Page

ARTICLE I. AUTHORITY AND FINDINGS|910|Section 1.1. Authority|910|Section 1.2. Findings|910|Section 1.3. Definitions|910|ARTICLE II. SEWER REVENUE FUND AND ACCOUNTS 19
Section 2.1. Sewer Revenue Fund 19
Section 2.2. Application of Net Revenues Available For Bonds 20
Section 2.3. Deficiencies; Excess 24
Section 2.4. Investments 24
ARTICLE III. DETAILS OF THE 2018 BONDS 24
Section 3.1. Principal Amount, Designation, Sources of Payment 24
Section 3.2. Purposes 25
Section 3.3. Approval of 2018 Bonds Indenture, Bond Provisions 25
Section 3.4. Determination by Authorized Officer as to Borrowing for the
Projects and the Refunding of Outstanding Bonds 26
Section 3.5. Sale of 2018 Bonds 27
ARTICLE IV. CONSTRUCTION ACCOUNT; ESCROW ACCOUNT FOR
REFUNDED BONDS; OPERATION OF SEWER REVENUE FUND
WHEN NO SENIOR LIEN BONDS ARE OUTSTANDING 29
Section 4.1. Construction Account; Establishment; Deposit of Funds; Uses 29
Section 4.2. Escrow for Refunded Bonds 30
Section 4.3. Operation of Sewer Revenue Fund When No Senior Lien
Bonds are Outstanding 30
ARTICLE V. GENERAL COVENANTS 31
Section 5.1. Sewer Rates 31
Section 5.2. Investment of Proceeds 32
ARTICLE VI. DETAILS OF 2018 SUBORDINATE LIEN OBLIGATIONS 32
Section 6.1. Principal Amount, Designation, Sources of Payment 32
Section 6.2. Purposes 32
Section 6.3. I.E.P.A. Loan Provisions 32
Section 6.4. I.E.P.A. Loans 33
ARTICLE VII. DISPOSITION OF 2018 SUBORDINATE LIEN OBLIGATION PROCEEDS; CONSTRUCTION ACCOUNT: 2018
SUBORDINATE LIEN OBLIGATIONS 33
Section 7.1. Deposit into the 2018 Subordinate ...

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