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BILL NO. 4-2015

AN ORDINANCE AUTHORIZING THE INCURRENCE OF NONELECTORAL DEBT OF THE CITY OF LANCASTER, LANCASTER COUNTY, PENNSYLVANIA, BY THE ISSUANCE OF UP TO $6,955,000 PRINCIPAL AMOUNT OF GENERAL OBLIGATION NOTE, SERIES OF 2015 (THE “NOTE”); ISSUED FOR THE PURPOSE OF PROVIDING FINANCING FOR COSTS OF THE CURRENT REFUNDING OF THE CITY’S OUTSTANDING GENERAL OBLIGATION BONDS, SERIES OF 2010 (THE “2010 BONDS”); APPROVING THE REFUNDING AND AUTHORIZING THE REDEMPTION OF THE OUTSTANDING 2010 BONDS; DETERMINING TO SELL THE NOTE AT A PRIVATE SALE BY NEGOTIATION OR INVITATION; APPROVING THE FORM OF THE NOTE; FIXING THE DATE, INTEREST AND MATURITY OF THE NOTE; MAKING A COVENANT FOR THE PAYMENT OF THE DEBT SERVICE ON THE NOTE; PLEDGING THE FULL FAITH, CREDIT AND TAXING POWER OF THIS CITY IN SUPPORT OF THE NOTE; PROVIDING FOR THE FILING OF REQUIRED DOCUMENTS; PROVIDING FOR THE APPOINTMENT OF A SINKING FUND DEPOSITARY FOR THE NOTE; AND AUTHORIZING EXECUTION, SALE AND DELIVERY THEREOF, AND OTHER NECESSARY ACTIONS.