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Authorizing the Issuance of Revenue Bonds re: improvements to the Waterworks, not to exceed Twenty-Two Million Five hundred thousand dollars (22,500,000); including the issuance of notes in anticipation of Bonds.
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Authorizing the Issuance of Revenue Bonds re: improvements to the Waterworks, not to exceed Twenty-Two Million Five hundred thousand dollars (22,500,000); including the issuance of notes in anticipation of Bonds.
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9/24/2009 2:28:11 PM
Creation date
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/23/1997
Ord-Res Number
8801-97
Bill Number
52-97
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satisfactory to them. In the event any such bond shall have matured, instead of issuing a duplicate <br />bond, the City and the Registrar may, upon receiving indemnity satisfactory to them, pay the same <br />without surrender thereof. The City and the Registrar may charge the owner of such 1997 Bond <br />with their reasonable fees and expenses in this connection. Any 1997 Bond issued pursuant to this <br />paragraph shall be deemed an original, substitute contractual obligation of the City, whether or <br />not the lost, stolen or destroyed 1997 Bond shall be found at any time, and shall be entitled to all <br />the benefits of this Ordinance, equally and proportionately with any and all other 1997 Bonds <br />issued hereunder. <br />SECTION 5. Registrar~nd.paying~gent. The Fiscal Officer is hereby authorized <br />to appoint a qualified financial institution to serve as Registrar and Paying Agent for the 1997 <br />Bonds (together with any successor, the "Registrar" or "Paying Agent"). The Registrar is hereby <br />charged with the responsibility of authenticating the 1997 Bonds, and shall keep and maintain the <br />Registration Record at its office. The Fiscal Officer is hereby authorized to enter into such <br />agreements or understandings with such institution as will enable the institution to perform the <br />services required of a Registrar and Paying Agent. The Fiscal Officer is further authorized to <br />pay such fees and the institution may charge for the services its provides as Registrar and Paying <br />Agent and such fees may be paid from the Sinking Fund established to pay the principal of and <br />interest on the 1997 Bonds as fiscal agency charges. <br />The Registrar and Paying Agent may at any time resign as Registrar and Paying <br />Agent by giving thirty (30) days written notice to the City and by first-class mail to each <br />registered owner of the 1997 Bonds then outstanding, and such resignation will take effect at the <br />end of such thirty (30) days or upon the earlier appointment of a successor Registrar and Paying <br />Agent by the City. Such notice to the City may be served personally or sent by first-class or <br />registered mail. The Registrar and Paying Agent may be removed at any time as Registrar and <br />Paying Agent by the City, in which event the City may appoint a successor Registrar and Paying <br />Agent. The City shall notify each registered owner of the 1997 Bonds then outstanding by first- <br />class mail of the removal of the Registrar and Paying Agent. Notices to the registered owners of <br />the 1997 Bonds shall be deemed to be given when mailed by first-class mail to the addresses of <br />such registered owners as they appear on the Registration Record. Any predecessor Registrar and <br />Paying Agent shall deliver all the 1997 Bonds, cash or investments related thereto in its possession <br />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 <br />is hereby charged with the duties of Registrar and Paying Agent. <br />SECTION 6. Terms~Redemption. The 1997 Bonds may be made redeemable <br />at 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 <br />substantially as set forth in the form of 1997 Bonds in Section 9, as finally determined by the <br />Executive and Fiscal Officer with the advice of the City's financial advisor, as evidenced by <br />delivery of the executed initial issue of the 1997 Bonds to the Registrar for authentication. <br />-5- <br />
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