Agenda 10/10/2000 - Laserfiche WebLink

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Be it Ordained by the City Council of the City of Martinsville, Virginia: Section 1 Definitions Unless the context shall clearly indicate some other meaning, the following words and terms shall for all purposes of the Ordinance and of any certificate, resolution or other instrument amendatory thereof or supplemental thereto for all purposes of any opinion or instrument or other documents therein or herein mentioned, have the following meanings: "Act" shall mean the Public Finance Act, Chapter 26, Title 15.2 of the Code of Virginia of 1950, as amended. "Additional Bonds" shall mean any bonds issued pursuant to the requirements of this Ordinance and the Financing Agreement and secured on a parity with the Bond by a pledge of revenues derived from the ownership or operation of the System. "Bond" shall mean the City's Solid Waste Revenue Bond (Landfill Improvement Project), Series 2000, in the aggregate principal mount of up to $3,100,000 authorized to be issued hereunder. "Bond Counsel" shall mean Sands, Anderson, Marks & Miller, a Professional Corporation or another attorney or firm of attorneys nationally recognized on the subject of municipal bonds selected by the City. "Bondholder" or "Holder" shall mean the registered owner of the Bond. "Bond Sale Agreement" shall mean the Bond Sale Agreement between the City and VRA to be dated the date of sale of the VRA Bonds. "Business Day" shall mean any Monday, Tuesday, Wednesday, Thursday or Friday on which commercial banks generally are open for business in the Commonwealth of Virginia. "City" shall mean the City of Martinsville, Virginia. "City Chaffer" shall mean the City Charter of the City of Martinsville, Virginia, as amended. "Clerk" shall mean the Clerk of the Council or the Deputy Clerk of the Council. "Closing Date" shall mean the date on which the Bond is issued and delivered to the Bondholder.