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Authorize- Issuance of Revenue Bonds $11,960,000
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Authorize- Issuance of Revenue Bonds $11,960,000
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Last modified
3/21/2011 3:56:49 PM
Creation date
3/21/2011 3:56:47 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
4/28/1997
Ord-Res Number
8778-97
Bill Number
34-97
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', , <br /> the Bonds or the premium, if any, or the interest thereon except from the county economic <br /> development income tax revenues of the City deposited into the Sinking Fund as defined below. <br /> The Bonds shall bear an Original Date which shall be the first day of the month <br /> in which the Bonds are delivered, and each Bond shall also bear the date of its authentication. <br /> Bonds authenticated on or before July 15, 1997, shall be paid interest from the Original Date. <br /> Bonds authenticated thereafter shall be paid interest from the interest payment date next preceding <br /> the date of authentication of such Bonds unless the Bonds are authenticated between the fifteenth <br /> day of the month preceding an interest payment date and the interest payment date, in which case <br /> interest thereon shall be paid from such interest payment date. <br /> The Bonds shall be executed in the name of the City of South Bend, Indiana, by <br /> the manual or facsimile signature of the Mayor, countersigned by the manual or facsimile <br /> signature of the Controller, and attested by the manual or facsimile signature of the Clerk, who <br /> shall cause the official seal of the City to be impressed or a facsimile thereof to be printed or <br /> otherwise reproduced on each of the Bonds. Subject to the provisions for registration and the <br /> other limitations, the Bonds shall be negotiable under the laws of the State of Indiana. <br /> The Bonds shall be authenticated with the manual signature of an authorized <br /> representative of the Registrar, and no Bond shall be valid or obligatory for any purpose until the <br /> certificate of authentication on such Bond shall have been so executed. <br /> The Registrar or the Paying Agent may at any time resign as Registrar or Paying <br /> Agent by giving thirty (30) days' written notice to the City and by first-class mail to each <br /> registered owner of Bonds then outstanding, and such resignation will take effect at the end of <br /> such thirty (30) days or upon the earlier appointment of a successor Registrar or Paying Agent, <br /> as the case may be, by the City. Such notice to the City may be served personally or be sent by <br /> registered mail. The Registrar or Paying Agent may be removed at any time as Registrar or <br /> Paying Agent by the City, in which event the City may appoint a successor Registrar or Paying <br /> Agent, as the case may be. The City shall notify each registered owner of Bonds then <br /> outstanding by first-class mail of the removal of the Registrar or Paying Agent. Notices to <br /> registered owners of Bonds shall be deemed to be given when mailed by first-class mail to the <br /> addresses of such registered owners as they appear on the Bond Register. Any predecessor <br /> Registrar shall deliver all the Bonds in its possession and the Bond Register to the successor <br /> Registrar and any predecessor Paying Agent shall deliver all the cash in its possession to the <br /> successor Paying Agent. <br /> SECTION 3. The form and tenor of the Bonds shall be substantially as follows <br /> (all blanks to be properly completed prior to the preparation of the Bonds): <br /> -5- <br />
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