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Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds
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Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds
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6/25/2009 8:45:24 AM
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6/25/2009 8:45:23 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/22/1998
Ord-Res Number
8919-98
Bill Number
51-98
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Agent. The City shall notify each registered owner of 1998 Bonds then outstanding by first-class <br />mail of the removal of the Registrar and Paying Agent. Notices to registered owners of the 1998 <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 books kept by the Registrar. Any predecessor <br />Registrar and Paying Agent shall deliver all of the 1998 Bonds and cash in its possession with <br />respect thereto, together with the registration books, to the successor Registrar and Paying Agent. <br />The Controller is hereby authorized to act on behalf of the City with regard to any of the <br />aforementioned actions of the City relating to the resignation or removal of the Registrar and Paying <br />Agent and appointment of a successor Registrar and Paying Agent. <br />If the 1998 Bonds are not sold to the State or the Bond Bank or if wire transfer <br />payment is not required, the principal of and any redemption premium on the 1998 Bonds shall be <br />payable at the principal corporate trust office of the Paying Agent. Interest on the 1998 Bonds shall <br />be paid by check or draft mailed or delivered by the Paying Agent to the registered owner thereof <br />at the address as it appears on the registration books kept by the Registrar as of the fifteenth (15th) <br />day of the month immediately preceding the Interest Payment Date or at such other address as may <br />be provided to the Paying Agent in writing by such registered owner. <br />Principal of and interest on any series of 1998 Bonds registered in the name of the <br />State or the Bond Bank shall be paid by wire transfer to a financial institution if and as directed by <br />the State on the due date of such payment or, if such date is a day whets financial institutions are not <br />open for business, on the business day immediately preceding such due date. Interest on 1998 bonds <br />sold to the State or Bond Bank to finance Eligible Costs (as defined in the Financial Assistance <br />Agreement) shall be paid from the date which is one (1) year after the date of delivery of the 1998 <br />Bonds. So long as the State or the Bond Bank is the registered owner of the 1998 Bonds, such 1998 <br />Bonds shall be presented for payment as directed by the State or the Bond Bank, as applicable. All <br />payments on the 1998 Bonds shall be made in any coin or currency of the United States of America <br />which, on the dates of such payments, shall be legal tender for the payment of public or private debt. <br />Each 1998 Bond shall be transferable or exchangeable only on the books of the City <br />maintained for such purpose at the principal corporate trust office of the Registrar, by the registered <br />owner thereof in person, or by his or her attorney duly authorized in writing, upon surrender of such <br />1998 Bond together with a written instrument of transfer or exchange satisfactory to the Registrar <br />-7- <br />::ODMA\PCDOCS\SBDOCS 1\1494T3 <br />
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