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10118-11 Authorizing Sewage Works Revenue Bonds
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10118-11 Authorizing Sewage Works Revenue Bonds
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10/7/2011 5:58:42 PM
Creation date
10/7/2011 5:58:38 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
9/12/2011
Ord-Res Number
10118-11
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Agent"). The Registrar is hereby charged with the responsibility of authenticating the 2011 <br /> Bonds, and shall keep and maintain books for the registration and transfer of the 2011 Bonds. <br /> The Mayor is hereby authorized to enter into such agreements or understandings with any <br /> institution serving as Registrar and Paying Agent as will enable the institution to perform the <br /> services required of the Registrar and Paying Agent. The Controller is authorized to pay such <br /> fees as the institution may charge for the services it provides as Registrar and Paying Agent, and <br /> such fees may be paid as fiscal agency charges from the Sinking Fund described herein to pay <br /> the principal of and interest on the 2011 Bonds. <br /> The Registrar and Paying Agent may at any time resign as Registrar and Paying Agent by <br /> giving thirty (30) days written notice to the City and by first-class mail to each registered owner <br /> of the 2011 Bonds then outstanding, and such resignation will take effect at the end of such thirty <br /> (30) days or upon the earlier appointment of a successor Registrar and Paying Agent by the City. <br /> Such notice to the City may be served personally or be sent by registered mail. The Registrar <br /> and Paying Agent may be removed at any time as Registrar and Paying Agent by the City, in <br /> which event the City may appoint a successor Registrar and Paying Agent. The City shall notify <br /> each registered owner of the 2011 Bonds then outstanding by first-class mail of the removal of <br /> the Registrar and Paying Agent. Notices to registered owners of the 2011 Bonds shall be <br /> deemed to be given when mailed by first-class mail to the addresses of such registered owners as <br /> they appear on the bond register. Any predecessor Registrar and Paying Agent shall deliver all <br /> the 2011 Bonds and cash in its possession and the bond register to the successor Registrar and <br /> Paying Agent. At all times, the same entity shall serve as Registrar and as Paying Agent. <br /> SECTION 6. Form of Bonds. The form and tenor of the 2011 Bonds shall be <br /> substantially as set forth in Appendix B, with all blanks to be filled in properly and all necessary <br /> additions and deletions to be made prior to delivery thereo£ <br /> SECTION 7. Authorization for Book-Entrv Svstem. The 2011 Bonds may, in <br /> compliance with all applicable laws, initially be issued and held in book-entry form on the books <br /> of the central depository system, The Depository Trust Company, its successors, or any <br /> successor central depository system appointed by the City from time to time (the "Clearing <br /> Agency"), without physical distribution of 2011 Bonds to the purchasers. The following <br /> provisions of this section apply in such event. <br /> One definitive 2011 Bond of each maturity shall be delivered to the Clearing Agency (or <br /> its agent) and held in its custody. The City, the Registrar and the Paying Agent may, in <br /> connection therewith, do or perform or cause to be done or performed any acts or things not <br /> adverse to the rights of the holders of the 2011 Bonds as are necessary or appropriate to <br /> accomplish or recognize such book-entry form 2011 Bonds. <br /> During any time that the 2011 Bonds remain and are held in book-entry form on the <br /> books of a Clearing Agency: (1) any such 2011 Bond may be registered upon the books kept by <br /> the Registrar in the name of such Clearing Agency, or any nominee thereof, including Cede & <br /> Co., as nominee of The Depository Trust Company; (2) except as otherwise described in the <br /> Continuing Disclosure Contract described below, the Clearing Agency in whose name such 2011 <br /> Bond is so registered shall be, and the City, the Registrar and the Paying Agent may deem and <br /> treat such Clearing Agency as, the absolute owner and holder of such 2011 Bond for all purposes <br /> - 8 - <br />
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