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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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the Registration Record at its office. The Fiscal Officer is hereby authorized to enter into such <br /> agreements or understandings with such institution as will enable the institution to perform the <br /> services required of a Registrar and Paying Agent. The Fiscal Officer is further authorized to <br /> pay such fees and the institution may charge for the services its provides as Registrar and Paying <br /> Agent and such fees may be paid from the Sinking Fund established to pay the principal of and <br /> interest on the 2012 Bonds as fiscal agency charges. <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 2012 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 sent by first-class or registered mail. The <br /> Registrar and Paying Agent may be removed at any time as Registrar and Paying Agent by the <br /> City, in which event the City may appoint a successor Registrar and Paying Agent. The City <br /> shall notify each registered owner of the 2012 Bonds then outstanding by first-class mail of the <br /> removal of the Registrar and Paying Agent. Notices to the registered owners of the 2012 Bonds <br /> shall be deemed to be given when mailed by first-class mail to the addresses of such registered <br /> owners as they appear on the Registration Record. Any predecessor Registrar and Paying Agent <br /> shall deliver all the 2012 Bonds, cash or investments related thereto in its possession and the <br /> Registration Record to the successor Registrar and Paying Agent. <br /> As to the BANs, the Fiscal Officer shall serve as Registrar and Paying Agent and is <br /> hereby charged with the duties of Registrar and Paying Agent. <br /> SECTION 6. Terms of Redemption. The 2012 Bonds may be made redeemable at the <br /> option of the City on thirty (30) days' notice, in whole or in part, in any order of maturities <br /> selected by the City and by lot within a maturity, on dates and with premiums and other terms, as <br /> finally determined by the Executive with the advice of the City's financial advisor, as evidenced <br /> by delivery of the executed initial issue of the 2012 Bonds to the Registrar for authentication. <br /> Notice of redemption shall be mailed by first-class mail to the address of each registered <br /> owner of a 2012 Bond to be redeemed as shown on the Registration Record not more than sixty <br /> (60) days and not less than thirty (30) days prior to the date fixed for redemption except to the <br /> extent such redemption notice is waived by owners of 2012 Bonds redeemed,provided, however, <br /> that failure to give such notice by mailing, or any defect therein, with respect to any 2012 Bond <br /> shall not affect the validity of any proceedings for the redemption of any other 2012 Bonds. The <br /> notice shall specify the date and place of redemption, the redemption price and the CUSIP <br /> numbers of the 2012 Bonds called for redemption. The place of redemption may be determined <br /> by the City. Interest on the 2012 Bonds so called for redemption shall cease on the redemption <br /> date fixed in such notice if sufficient funds are available at the place of redemption to pay the <br /> redemption price on the date so named, and thereafter, such 2012 Bonds shall no longer be <br /> protected by this Ordinance and shall not be deemed to be outstanding hereunder, and the holders <br /> thereof shall have the right only to receive the redemption price. <br /> All 2012 Bonds which have been redeemed shall be canceled and shall not be reissued; <br /> provided, however, that one or more new registered bonds shall be issued for the unredeemed <br /> portion of any 2012 Bond without charge to the holder thereof. <br /> - 7 - <br />
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