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Ordinance 1993-1130
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Ordinance 1993-1130
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Last modified
3/12/2021 10:52:17 AM
Creation date
2/9/2006 4:15:54 PM
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City Council Records
Doc Type
Ordinance
Signed Date
12/7/1993
Ord/Res - Year
1993
Ord/Res - Number
1130
Original Hardcopy Storage
7E3
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ORD 1993-1130
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<br />F. Obligations issued by the following agencies which are backed by the full <br /> <br />faith and credit of the U. S. : <br /> <br />1. U.S. EXDort-Import Bank (Eximbank) - Direct obligations or fully <br />guaranteed certificates of beneficial ownership; <br /> <br />2. Farmers Home Administration (FmHA); <br /> <br />3. Federal FinancinlZ Bank; <br /> <br />4. General Services Administration - Participation certificates; <br /> <br />5. U.S. Maritime Administration - Guaranteed Title XI financing; <br /> <br />6. U.S. Department of HousinlZ and Urban Development (HUD) _ <br />(a) Project Notes, (b) Local Authority Bonds, (c) New <br />Communities Debentures - U.S. government guaranteed <br />debentures, and (d) U.S. Public Housing Notes and Bonds _ U.S. <br />government guaranteed public housing notes and bonds. <br /> <br />PledlZed Revenues: (i) the portion of the Sales Tax pledged to the Capital <br />Improvement Fund by the Sales Tax Ordinance, being one-third (1/3) of the net proceeds of <br />the Sales Tax, (ii) investment income as provided in Section 17(f) hereof; (iii) any additional <br />legally available taxes (other than general ad valorem taxes), funds or revenues which the City <br />Council hereafter pledges to the payment of the Bonds; and (iv) to the extent permitted by <br />Section 26( e) hereof, the proceeds derived by the City from any legally available tax or taxes <br />or fees (other than general ad valorem taxes) which replace or supersede the City's Sales Tax, <br />regardless of whether such taxes or fees are imposed by the City, the State or any other <br />political subdivision thereof; all to the extent that any of the foregoing are at any time <br />required by Section 17 hereof to be deposited into and held in the Capital Improvement <br />Fund, the Bond Account or the Reserve Account. The term "Pledged Revenues" does not <br />include: (i) any amounts determined, pursuant to the Sales Tax Ordinance, and other <br />applicable law, to be subject to valid claims for refunds; (ii) amounts in or required to be paid <br />into the Rebate Fund or any similar account for Parity Lien Bonds; (iii) moneys retained by <br />the State Department of Revenue for costs of collection, administration and enforcement of <br />the sales and use tax; (iv) amounts lawfully withheld by retailers; (v) the proceeds of any <br /> <br />- 6 - <br />
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