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05-26-09 Common Council Meeting Agenda & Packet
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05-26-09 Common Council Meeting Agenda & Packet
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5/21/2009 4:06:32 PM
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5/21/2009 4:06:25 PM
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City Council - City Clerk
City Council - Document Type
Agendas
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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 2009 Bonds, as are <br />necessary or appropriate to discontinue use of such Clearing Agency as a Clearing Agency for <br />the 2009 Bonds and to transfer the ownership of each of the 2009 Bonds to such person or <br />persons, including any other Clearing Agency, as the holder of the 2009 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 2009 Bonds, shall be paid by the City. <br />During any time that the 2009 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 2009 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 2009 Bond has been obtained, the Registrar shall be entitled to treat the <br />beneficial owners of the 2009 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 2009 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 2009 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 2009 Bonds. The form and tenor of the 2009 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 />R- <br />UNITED STATES OF AMERICA <br />STATE OF INDIANA COUNTY OF ST. JOSEPH <br />CITY OF SOUTH BEND, INDIANA <br />WATERWORKS REVENUE BOND OF 20[ ] <br />-10- <br />
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