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8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77
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8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77
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3/21/2013 4:22:24 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/13/1993
Ord-Res Number
8443-93
Bill Number
108-93
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neither the Issuer nor the Trustee nor any paying agent shall be affected by any notice to the <br />contrary. <br />This Bond and the other Bonds outstanding under the Indenture may be declared due <br />prior to their expressed maturity dates, voluntary prepayments may be made thereon by the <br />Borrower on behalf of the Issuer, and the holders thereof may' cause the early prepayment <br />thereof, all in the events, on the terms and in the manner and amounts as provided in the <br />Indenture. <br />No recourse shall be had for the payment of the principal of or premium or interest <br />on this Bond or for any claim based thereon or upon any obligation, covenant or agreement <br />in the Indenture contained, against any past, present or future officer or employee of the <br />Issuer, or any incorporator, officer, director or member of any successor corporation, as <br />such, either directly or through the Issuer or any successor corporation, under any rule of <br />law or equity, statute or constitution or by the enforcement of any assessment or penalty or <br />otherwise, and all such liability of any such incorporator, officer, director or member as <br />such is hereby expressly waived and released as a condition of and consideration for the <br />execution of the Indenture and the issuance of this Bond. <br />The holder of this Bond shall have no right to enforce the provisions of the Indenture <br />or to institute action to enforce the covenants therein, or to take any action with respect to <br />any event of default under the Indenture, or to institute, appear in or defend any suit or <br />other proceedings with respect thereto, except as provided in the Indenture. In certain <br />events, on the conditions, in the manner and with the effect set forth in the Indenture, the <br />principal of all Bonds issued under the Indenture and then outstanding may become or may <br />be declared due and payable before the stated maturity thereof, together with interest <br />accrued thereon. Modifications or alterations of the Indenture, or of any supplements <br />thereto, may be made only to the extent and in the circumstances permitted by the Indenture. <br />This Bond is registered on the books of the Issuer and is transferable only by <br />surrender thereof at the principal office of the Trustee duly endorsed or accompanied by a <br />written instrument of transfer duly executed by the registered holder of this Bond or its <br />attorney duly authorized in writing. Payment of or on account of principal, premium, if <br />any, and interest on this Bond shall be made only to or upon the order in writing of the <br />registered holder. <br />IT Is HEREBY CERTIFIED, RECITED AND DECLARED that all acts, conditions and things <br />required to exist, happen and be performed precedent to and in the execution and delivery of <br />the Indenture and the issuance of this Bond do exist, have happened and have been <br />performed in due time, form and manner as required by law; that the issuance of this Bond, <br />together with all other obligations of the Issuer, does not exceed or violate any constitutional <br />or statutory limitation. <br />This Bond shall not be valid or become obligatory for any purpose or be entitled to <br />any security or benefit under the Indenture until the certificate of authentication hereon shall <br />have been duly executed by the Trustee. <br />-5- <br />
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