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file:///SICouncil Agendas/CITY COUNCIL, DRAFT FOLDERS/201... <br />finance such facility or to refund previous financing under such plan. <br />(D) Refunding bonds <br />No approval under subparagraph (A) shall be necessary with respect to any <br />bond which is issued to refund (other than to advance refund) a bond approved <br />under subparagraph (A) (or treated as approved under subparagraph (C)) unless the <br />average maturity date of the issue of which the refunding bond is a part is later than <br />the average maturity date of the bonds to be refunded by such issue. For purposes of <br />the preceding sentence, average maturity shall be determined in accordance with <br />subsection (b)(2)(A). <br />(E) Applicable elected representative <br />For purposes of this paragraph— <br />(i) In general The term "applicable elected representative" means with <br />respect to any governmental unit— <br />(1) <br />nit(I) an elected legislative body of such unit, or <br />(II) the chief elected executive officer, the chief elected State <br />legal officer of the executive branch, or any other elected official of <br />such unit designated for purposes of this paragraph by such chief <br />elected executive officer or by State law. <br />If the office of any elected official described in subclause (II) is <br />vacated and an individual is appointed by the chief elected executive officer of the <br />governmental unit and confirmed by the elected legislative body of such unit (if any) to <br />serve the remaining term of the elected official, the individual so appointed shall be <br />treated as the elected official for such remaining term. <br />(ii) No applicable elected representative <br />If (but for this clause) a governmental unit has no applicable elected <br />representative, the applicable elected representative for purposes of clause (i) <br />shall be the applicable elected representative of the governmental unit— <br />(1) <br />nit(I) which is the next higher governmental unit with such a <br />representative, and <br />(II) from which the authority of the governmental unit with no <br />such representative is derived. <br />From: Dolby, Michael fmailto:DolbyMWaportetx.gov] <br />Sent: Wednesday, February 12, 2014 10:14 AM <br />To: White, Margo <br />Cc: Alexander, Corby <br />Subject: FW: Educational Media Foundation - Public Hearing and Approval Request <br />Importance: High <br />Margo, <br />I am not familiar with this requirement for our city to approve bonds for a local radio station. Please advise as to <br />our liability and responsibility <br />I 2 of 4 6/3/2014 8:11 AM <br />