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No. 2153 authorizing issuance of bonds of the SB redevelopment district for purpose of raising money for certain local public improvements in downtown medical services district allocation area
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No. 2153 authorizing issuance of bonds of the SB redevelopment district for purpose of raising money for certain local public improvements in downtown medical services district allocation area
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private debts. The President of the Commission and the Controller are hereby authorized and <br />directed, on behalf of the Commission, to enter into such agreements or understandings with the <br />Paying Agent as will enable the Paying Agent to perform the services required of a paying agent, <br />and is directed to pay reasonable and customary fees to the Paying Agent for its services out of <br />available funds. <br />Unless as otherwise provided herein, the Bonds shall, in compliance with all <br />applicable laws, be initially issued and held in book -entry form and registered in the name of <br />Cede & Co., as nominee for The Depository Trust Company without physical distribution of <br />Bonds to the purchasers thereof. The President of the Commission is hereby authorized to take <br />such action as may be necessary to provide for the Bonds to be issued in book - entry -only form, <br />including without limitation executing a Blanket Issuer Letter of Representations. At the <br />determination of the President of the Commission and the Controller to be set forth in the Issuer's <br />Certificate, the Bonds may be initially issued in certificate form and be physically delivered to <br />the purchaser of the Bonds. <br />The Bonds shall bear an original date which shall be the date upon which the <br />Bonds are to be delivered (the "Original Date") and each Bond shall also bear the date of its <br />authentication. Bonds authenticated on or before July 15, 2005, shall be paid interest from the <br />Original Date. Bonds authenticated after July 15, 2005, shall pay interest from the interest <br />payment date immediately preceding the date of authentication of such Bonds unless the Bonds <br />are authenticated between the fifteenth day of the month preceding an interest payment date and <br />the interest payment date, in which case interest thereon shall be paid from such interest payment <br />date. <br />Each Bond shall be transferable or exchangeable only upon the Bond Register by <br />the registered owner thereof in person, or by his attorney duly authorized in writing, upon <br />surrender of such Bond together with a written instrument of transfer or exchange satisfactory to <br />the Registrar duly executed by the registered owner or his attorney duly authorized in writing, <br />and thereupon a new fully registered Bond or Bonds in the same aggregate principal amount and <br />of the same maturity shall be executed and delivered in the name of the transferee or transferees <br />or the registered owner, as the case may be, in exchange therefor. Bonds may be transferred or <br />exchanged without cost to the registered owner, except for any tax or governmental charge <br />required to be paid with respect to the exchange. The Registrar shall not be required to transfer <br />or exchange any Bond called for redemption or during the period from the fifteenth day of any <br />calendar month immediately preceding an interest payment date to such interest payment date. <br />The City, the Commission, the Registrar and the Paying Agent may treat and consider the person <br />in whose name such Bonds are registered as the absolute owner thereof for all purposes <br />including for the purpose of receiving payment of, or on account of, the principal thereof and <br />interest due thereon. <br />In the event any Bond is mutilated, lost, stolen or destroyed, the City may execute <br />on behalf of the Redevelopment District and the Registrar may authenticate a new Bond of like <br />date, maturity and denomination as that mutilated, lost, stolen or destroyed, which new Bond <br />shall be marked in a manner to distinguish it from the Bond for which it was issued; provided, <br />that in the case of any mutilated Bond, such mutilated Bond shall first be surrendered to the <br />Registrar, and in the case of any lost, stolen or destroyed Bond there shall be first furnished to <br />-6- <br />BDDB01 40102160 <br />
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