04-08-13 Agenda & Packet - Laserfiche WebLink

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then the City and the Registrar and Paying Agent each shall do or perform or cause to be done or performed all acts or things, not adverse to the rights of the holders of the 2013A Bonds, as are necessary or appropriate to discontinue use of such Clearing Agency as a Clearing Agency for the 2013A Bonds and to transfer the ownership of each of the 2013A Bonds to such person or persons, including any other Clearing Agency, as the holder of the 2013A Bonds may direct in accordance with this Ordinance. Any expenses of such discontinuance and transfer, including expenses of printing new certificates to evidence the 2013A Bonds, shall be paid by the City. During any time that the 2013A Bonds are held in book -entry form on the books of a Clearing Agency, the Registrar shall be entitled to request and rely upon a certificate or other written representation from the Clearing Agency or any participant or indirect participant with respect to the identity of any beneficial owner of the 2013A Bonds as of a record date selected by the Registrar. For purposes of determining whether the consent, advice, direction or demand of a registered owner of a 2013A Bond has been obtained, the Registrar shall be entitled to treat the beneficial owners of the 2013A Bonds as the bondholders and any consent, request, direction, approval, objection or other instrument of such beneficial owner may be obtained in the fashion described in this Ordinance. During any time that the 2013A Bonds are held in book -entry form on the books of a Clearing Agency, the Executive, the Fiscal Officer and/or the Registrar are authorized to execute and deliver a Letter of Representations agreement with the Clearing Agency, or a Blanket Issuer Letter of Representations, and the provisions of any such Letter of Representations or any successor agreement shall control on the matters set forth therein. The Registrar, by accepting the duties of Registrar under this Ordinance, agrees that it will (i) undertake the duties of agent required thereby and that those duties to be undertaken by either the agent or the issuer shall be the responsibility of the Registrar, and (ii) comply with all requirements of the Clearing Agency, including without limitation same day funds settlement payment procedures. Further, during any time that the 2013A Bonds are held in book -entry form, the provisions of Section 8 of this Ordinance shall control over conflicting provisions in any other section of this Ordinance. SECTION 9. Form of 2013A Bonds. The form and tenor of the 2013A Bonds shall be substantially as set forth in Appendix A hereto, all blanks to be filled in properly and all necessary additions and deletions to be made prior to delivery thereof. SECTION 10. Sale of Bonds. (a) The Fiscal Officer is authorized to negotiate the sale of the 2013A Bonds at an interest rate or rates not exceeding five percent (5 %) per annum. The Executive and the Fiscal Officer are hereby authorized to (i) execute a purchase agreement with the purchaser, and (ii) sell such 2013A Bonds upon such terms as are acceptable to the Executive and the Fiscal Officer consistent with the terms of this Ordinance. The final form of the purchase contract shall be determined by the Executive and Fiscal Officer, upon advice of the City's Bond Counsel and Financial Advisor and the Executive and Fiscal Officer are hereby authorized and directed to complete, execute and attest the same on behalf of the City so long as its provisions are consistent with this Ordinance. M