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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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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 2012B Bonds then outstanding, and such resignation will take effect at the end of such <br /> thirty(30) days or upon the earlier appointment of a successor Registrar and Paying Agent by the <br /> City. Such notice to the City may be served personally or sent by first-class or registered mail. <br /> The Registrar and Paying Agent may be removed at any time as Registrar and Paying Agent by <br /> the City, in which event the City may appoint a successor Registrar and Paying Agent. The City <br /> shall notify each registered owner of the 2012B Bonds then outstanding by first-class mail of the <br /> removal of the Registrar and Paying Agent. Notices to the registered owners of the 2012B <br /> Bonds shall be deemed to be given when mailed by first-class mail to the addresses of such <br /> registered owners as they appear on the Registration Record. Any predecessor Registrar and <br /> Paying Agent shall deliver all the 2012B Bonds, cash or investments related thereto in its <br /> possession and the 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 2012B Bonds may be made redeemable at <br /> the 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 2012B 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 2012B Bonds redeemed, provided, <br /> however, that failure to give such notice by mailing, or any defect therein, with respect to any <br /> 2012 Bond shall not affect the validity of any proceedings for the redemption of any other 2012B <br /> Bonds. The notice shall specify the date and place of redemption, the redemption price and the <br /> CUSIP numbers of the 2012B Bonds called for redemption. The place of redemption may be <br /> determined by the City. Interest on the 2012B Bonds so called for redemption shall cease on the <br /> redemption date fixed in such notice if sufficient funds are available at the place of redemption to <br /> pay the redemption price on the date so named, and thereafter, such 2012B Bonds shall no longer <br /> be protected by this Ordinance and shall not be deemed to be outstanding hereunder, and the <br /> holders thereof shall have the right only to receive the redemption price. <br /> All 2012B 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 /> No later than the date fixed for redemption, funds shall be deposited with the Paying <br /> Agent or another paying agent to pay, and such agent is hereby authorized and directed to apply <br /> such funds to the payment of, the 2012B Bonds or portions thereof called for redemption, <br /> including accrued interest thereon to the redemption date. No payment shall be made upon any <br /> 2012 Bond or portion thereof called for redemption until such 2012 Bond shall have been <br /> - 7 - <br />
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