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60-18 Bond Financing for the Community Center Project
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60-18 Bond Financing for the Community Center Project
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Last modified
11/7/2018 2:09:11 PM
Creation date
11/20/2018 8:47:21 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/12/2018
Bill Number
60-18
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maturity or redemption date upon which moneys are to be available for the payment of the <br /> principal of and the applicable redemption premium, if any, on said Bonds, plus interest thereon <br /> to the due date thereof; or(b) the maturity of such Bonds. <br /> All moneys so deposited with the Trustee as provided in this Section 10.2 may also be <br /> invested and reinvested, at the written direction of the Issuer, in Governmental Obligations, <br /> maturing in the amounts and at the times as hereinbefore set forth, and all income from all <br /> Governmental Obligations in the hands of the Trustee pursuant to this Section 10.2 which is not <br /> required for the payment of principal of the Bonds and interest and premium, if any, thereon with <br /> respect to which such moneys shall have been so deposited shall be deposited in the Bond Fund <br /> as and when realized and collected for use and application as are other moneys deposited in the <br /> Bond Fund. <br /> Notwithstanding any provision of any other Article of this Indenture which may be <br /> contrary to the provisions of this Section 10.2, all moneys or Governmental Obligations set aside <br /> and held in trust pursuant to the provisions of this Section 10.2 for the payment of Bonds <br /> (including premium thereon, if any) shall be applied to and used solely for the payment of the <br /> particular Bonds (including the premium thereon, if any) with respect to which such moneys or <br /> Governmental Obligations have been so set aside in trust. <br /> Anything in Article 9 hereof to the contrary notwithstanding, if moneys or Governmental <br /> Obligations have been deposited or set aside with the Trustee pursuant to this Section 10.2 for <br /> the payment of Bonds and such Bonds shall not have in fact been actually paid in full, no <br /> amendment to the provisions of this Section 10.2 shall be made without the consent of the Owner <br /> of each Bond affected thereby. <br /> The right to register the transfer of or to exchange Bonds shall survive the discharge of <br /> this Indenture. <br /> Section 10.3 Application of Trust Money. All money or investments deposited with or <br /> held by the Trustee pursuant to Section 10.1 or Section 10.2 shall be held in trust for the holders <br /> of the Bonds, and applied by it, in accordance with the provisions of the Bonds and this <br /> Indenture, to the payment, either directly or through the Trustee, to the persons entitled thereto, <br /> of the principal and interest for whose payment such money has been deposited with the Trustee; <br /> but such money or obligations need not be segregated from other funds except to the extent <br /> required by law. <br /> Section 10.4 Consents, etc., of Bondholders. Any consent, request, direction, approval, <br /> objection or other instrument required by this Indenture to be executed by the Bondholders may <br /> be in any number of concurrent writings of similar tenor and may be executed by such <br /> Bondholders in person or by agent appointed in writing. Provided, however, that wherever this <br /> Indenture requires that any such consent or other action be taken by the holders of a specified <br /> percentage, fraction or majority of the Bonds outstanding, any such Bonds held by or for the <br /> account of the Issuer shall not be deemed to be outstanding hereunder for the purpose of <br /> determining whether such requirement has been met. Proof of the execution of any such <br /> consent, request, direction, approval, objection or other instrument or of the writing appointing <br /> any such agent and of the ownership of Bonds, if made in the following manner, shall be <br /> 44 <br />
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