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10134-11 Waterworks Revenue Bonds $8,300,000
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10134-11 Waterworks Revenue Bonds $8,300,000
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Last modified
12/2/2011 12:45:20 PM
Creation date
12/2/2011 12:45:17 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/28/2011
Ord-Res Number
10134-11
Bill Number
70-11
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on the date of such payment shall be legal tender for the payment of public and private debts, or <br /> in the case of a registered owner of$1,000,000 or more in principal amount of 2012 Bonds, by <br /> wire transfer on the due date upon written direction of such owner provided at least fifteen (15) <br /> days prior to the maturity date or redemption date. <br /> Interest on 2012 Bonds shall be payable from the interest payment date to which interest <br /> has been paid next preceding the authentication date thereof unless such 2012 Bonds are <br /> authenticated after the Record Date for an interest payment date and on or before such interest <br /> payment date in which case they shall bear interest from such interest payment date, or unless <br /> authenticated on or before the Record Date for the first interest payment date, in which case they <br /> shall bear interest from the original date, until the principal shall be fully paid. <br /> SECTION 4. Transfer and Exchange of Bonds. Each 2012 Bond shall be transferable <br /> or exchangeable only upon the Registration Record, by the registered owner thereof in writing, <br /> or by the registered owner's attorney duly authorized in writing, upon surrender of such 2012 <br /> Bond together with a written instrument of transfer or exchange satisfactory to the Registrar duly <br /> executed by the registered owner or such attorney, and thereupon a new fully registered 2012 <br /> Bond or Bonds in the same aggregate principal amount, and of the same maturity, shall be <br /> executed and delivered in the names of the transferee or transferees or the registered owner, as <br /> the case may be, in exchange therefor. The costs of such transfer or exchange shall be borne by <br /> the City except for any tax or governmental charge required to be paid with respect to the <br /> transfer or exchange, which taxes or governmental charges are payable by the person requesting <br /> such transfer or exchange. The City, the Registrar and the Paying Agent may treat and consider <br /> the persons in whose names such 2012 Bonds are registered as the absolute owners thereof for all <br /> purposes including for the purpose of receiving payment of, or on account of, the principal <br /> thereof and interest and premium, if any, due thereon. <br /> In the event any 2012 Bond is mutilated, lost, stolen or destroyed, the City may execute <br /> and the Registrar may authenticate a new bond of like date, maturity and denomination as that <br /> mutilated, lost, stolen or destroyed, which new bond shall be marked in a manner to distinguish it <br /> from the bond for which it was issued, provided that, in the case of any mutilated bond, such <br /> mutilated bond shall first be surrendered to the Registrar, and in the case of any lost, stolen or <br /> destroyed bond there shall be first furnished to the Registrar evidence of such loss, theft or <br /> destruction satisfactory to the Fiscal Officer and the Registrar, together with indemnity <br /> satisfactory to them. In the event any such bond shall have matured, instead of issuing a <br /> duplicate bond, the City and the Registrar may, upon receiving indemnity satisfactory to them, <br /> pay the same without surrender thereof. The City and the Registrar may charge the owner of <br /> such 2012 Bond with their reasonable fees and expenses in this connection. Any 2012 Bond <br /> issued pursuant to this paragraph shall be deemed an original, substitute contractual obligation of <br /> the City, whether or not the lost, stolen or destroyed 2012 Bond shall be found at any time, and <br /> shall be entitled to all the benefits of this Ordinance, equally and proportionately with any and all <br /> other 2012 Bonds issued hereunder. <br /> SECTION 5. Re�istrar and Paving Agent. The Fiscal Officer is hereby authorized to <br /> appoint a qualified financial institution to serve as Registrax and Paying Agent for the 2012 <br /> Bonds (together with any successor, the "Registrax" or"Paying Agent"). The Registrar is hereby <br /> charged with the responsibility of authenticating the 2012 Bonds, and shall keep and maintain <br /> - 6 - <br />
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