§ 6.763 — Resolution Relating to Form, Execution and Issuance of Debt

Sec. 6.763. Resolution Relating to Form, Execution and Issuance of Debt.

If more than two-thirds of the votes cast at the election are in favor of incurring the Debt, the legislative body may, by resolution, at the time or times it deems proper, provide for the following: A. The form of the Debt; B. The execution of the Debt; C. The issuance of any part of the Debt; D. The appointment of one or more banks or trust companies within or without the State having the necessary trust powers as trustee, fiscal agent, paying agent, or bond registrar; E. The execution of a fiscal agent agreement, trust agreement or indenture securing the Debt; F. The pledge or assignment of any revenues of the Community Taxing District to the repayment of the Debt; G. The investment of any Debt proceeds and other revenues, including special tax revenues, by the trustee or fiscal agent in any securities or obligations described in the resolution, fiscal agent agreement, indenture, trust agreement, or other instrument providing for the issuance of the Debt; H. The date or dates to be borne by the Debt and the time or times of maturity of the Debt and the place or places and time or times that the Debt shall be payable; I. The interest, fixed or variable, to be borne by the Debt; J. The denominations, form, and registration privileges of the Debt; K. Any other terms and conditions determined to be necessary by the Council. SECTION HISTORY Added by Ord. No. 177,051, Eff. 11-20-05.