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BILL NO. 8796 ORDINANCE NO. lo5~~ AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE, SALE AND DELIVERY OF SPECIAL OBLIGATION BONDS, SERIES 2005, OF THE CITY OF UNIVERSITY CITY, MISSOURI; AND APPROVING CERTAIN DOCUMENTS AND AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH. WHEREAS, the City of University City, Missouri (the "City"), is a home rule city and political subdivision of the State of Missouri, duly created, organized and existing under and by virtue of its Charter and the Constitution and laws of the State of Missouri; and WHEREAS, the City desires to and is authorized under the provisions of the Constitution of the State of Missouri and its Charter to issue and sell $700,000 aggregate principal amount of Special Obligation Bonds, Series 2005 (the "Bonds") for the purpose of providing funds to (a) complete the construction, renovation and improvement of recreational facilities in the City's Heman Park (the "Project"), (b) fund a debt service reserve fund for the Bonds, and (c) pay the costs of issuing the Bonds; and WHEREAS, the principal of and interest on the Bonds will be payable solely from the revenues derived from annual appropriations by the Council; and WHEREAS, it is hereby found and determined that it is necessary and advisable and in the best interest of the City and of its inhabitants that the Bonds be issued and secured in the form and manner as hereinafter provided to provide funds for such purpose; NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: ARTICLE I DEFINITIONS Section 101. Definitions of Words and Terms. In addition to words and terms defined elsewhere herein, the following words and terms as used in this Ordinance shall have the following meamngs: "Arbitrage Instructions" means the Arbitrage Instructions attached as Exhibit A to the City's Federal Tax Certificate, as the same may be amended or supplemented in accordance with the provisions thereof. "Bond Counsel" means Gilmore & Bell, P.c., St. Louis, Missouri, or other attorneys or firm of attorneys with a nationally recognized standing in the field of municipal bond financing selected by the City. "Bond Payment Date" means any date on which principal of or interest on any Bond is payable.