Explanation
To authorize the issuance and sale of not to exceed $70,000,000 tax increment financing bonds of the City of Columbus for the purpose of providing (i) a portion of the funds necessary to advance refund the Issuer's Tax Increment Financing Bonds, Series 1999 (Easton Project) (the "1999 Bonds"), and (ii) funds to pay the costs of certain Public Improvements; authorizing a Trust Agreement to secure the Bonds hereafter authorized; authorizing Bond Purchase Contracts and Official Statements appropriate for the offering and sale of the Bonds; authorizing the acquisition of municipal bond insurance, letters of credit, and other credit facilities to secure the Bonds or portions of the Bonds; and providing for the redemption and defeasance of the 1999 Bonds.
Title
An ordinance providing for the issuance and sale of not to exceed $70,000,000 tax increment financing bonds of the City of Columbus, Ohio (the "Issuer"), in two or more series (collectively, the "Bonds"), for the purpose of providing (i) a portion of the funds necessary to advance refund the Issuer's Tax Increment Financing Bonds, Series 1999 (Easton Project) (the "1999 Bonds"), and (ii) funds to pay the costs of certain Public Improvements; authorizing a Trust Agreement to secure the Bonds hereafter authorized; authorizing Bond Purchase Contracts and Official Statements appropriate for the offering and sale of the Bonds; authorizing the acquisition of municipal bond insurance, letters of credit, and other credit facilities to secure the Bonds or portions of the Bonds; and providing for the redemption and defeasance of the 1999 Bonds. ($70,000,000)
Section 55(B) of the City Charter.
Body
WHEREAS, pursuant to Section 5709.40, Ohio Revised Code, and Ordinance No. 1704-96 of this Council (the "Legislative Authority"), duly enacted on July 22, 1996 (the "Original TIF Ordinance"), as amended by Ordinance No. 0709-03 (the "Amending TIF Ordinance" and, together with the Original ...
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