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10190-12 Refinance Waterworks revenue of 2002
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10190-12 Refinance Waterworks revenue of 2002
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Last modified
10/12/2012 12:35:11 PM
Creation date
10/12/2012 12:35:02 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/8/2012
Ord-Res Number
10190-12
Bill Number
53-12
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responsibility or obligation hereunder with respect to the receiving of payment of principal of or <br /> interest or premium, if any, on any 2012 Bond, the receiving of notice or the giving of consent; <br /> and (4) the Clearing Agency is not required to present any 2012 Bond called for partial <br /> redemption, if any, prior to receiving payment so long as the Registrar and Paying Agent and the <br /> Clearing Agency have agreed to the method for noting such partial redemption. <br /> If either the City receives notice from the Clearing Agency which is currently the <br /> registered owner of the 2012B Bonds to the effect that such Clearing Agency is unable or <br /> unwilling to discharge its responsibility as a Clearing Agency for the 2012B Bonds, or the City <br /> elects to discontinue its use of such Clearing Agency as a Clearing Agency for the 2012B Bonds, <br /> then the City and the Registrar and Paying Agent each shall do or perform or cause to be done or <br /> performed all acts or things, not adverse to the rights of the holders of the 2012B Bonds, as are <br /> necessary or appropriate to discontinue use of such Clearing Agency as a Clearing Agency for <br /> the 2012B Bonds and to transfer the ownership of each of the 2012B Bonds to such person or <br /> persons, including any other Clearing Agency, as the holder of the 2012B Bonds may direct in <br /> accordance with this Ordinance. Any expenses of such discontinuance and transfer, including <br /> expenses of printing new certificates to evidence the 2012B Bonds, shall be paid by the City. <br /> During any time that the 2012B Bonds are held in book-entry form on the books of a <br /> Clearing Agency, the Registrar shall be entitled to request and rely upon a certificate or other <br /> written representation from the Clearing Agency or any participant or indirect participant with <br /> respect to the identity of any beneficial owner of the 2012B Bonds as of a record date selected by <br /> the Registrar. For purposes of determining whether the consent, advice, direction or demand of a <br /> registered owner of a 2012 Bond has been obtained, the Registrar shall be entitled to treat the <br /> beneficial owners of the 2012B Bonds as the bondholders and any consent, request, direction, <br /> approval, objection or other instrument of such beneficial owner may be obtained in the fashion <br /> described in this Ordinance. <br /> During any time that the 2012B Bonds are held in book-entry form on the books of a <br /> Clearing Agency, the Executive, the Fiscal Officer and/or the Registrar are authorized to execute <br /> and deliver a Letter of Representations agreement with the Clearing Agency, or a Blanket Issuer <br /> Letter of Representations, and the provisions of any such Letter of Representations or any <br /> successor agreement shall control on the matters set forth therein. The Registrar, by accepting <br /> the duties of Registrar under this Ordinance, agrees that it will (i) undertake the duties of agent <br /> required thereby and that those duties to be undertaken by either the agent or the issuer shall be <br /> the responsibility of the Registrar, and (ii) comply with all requirements of the Clearing Agency, <br /> including without limitation same day funds settlement payment procedures. Further, during any <br /> time that the 2012B Bonds are held in book-entry form, the provisions of Section 8 of this <br /> Ordinance shall control over conflicting provisions in any other section of this Ordinance. <br /> SECTION 9. Form of 2012B Bonds. The form and tenor of the 2012B Bonds shall be <br /> substantially as follows, all blanks to be filled in properly and all necessary additions and <br /> deletions to be made prior to delivery: <br /> - 9 - <br />
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