My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
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.
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
1997
>
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.
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/24/2009 2:28:11 PM
Creation date
7/27/2009 3:45:48 PM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/23/1997
Ord-Res Number
8801-97
Bill Number
52-97
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
35
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
SECTION 8. A ~ri7atic~n fir Rork-Fn rv SvsTtPm. The 1997 Bonds may, in <br />compliance with all applicable laws, initially be issued and held in book-entry form on the books <br />of the central depository system, The Depository Trust Company, its successors, or any successor <br />central depository system appointed by the City from time to time (the "Clearing Agency"), <br />without physical distribution of bonds to the purchasers. The following provisions of this Section <br />apply in such event. <br />One definitive 1997 Bond of each maturity shall be delivered to the Clearing <br />Agency (or its agent) and held in its custody. The City and Registrar may, in connection <br />herewith, do or perform or cause to be done or performed any acts or things not adverse to the <br />rights of the holders of the 1997 Bonds as are necessary or appropriate to accomplish or recognize <br />such book-entry form 1997 Bonds. <br />During any time that the 1997 Bonds are held in book-entry form on the books of <br />a Clearing Agency, (1) any such 1997 Bond may be registered upon Registration Record in the <br />name of such Clearing Agency, or any nominee thereof, including Cede & Co.; (2) the Clearing <br />Agency in whose name such 1997 Bond is so registered shall be, and the City and the Registrar <br />and Paying Agent may deem and treat such Clearing Agency as, the absolute owner and holder <br />of such 1997 Bond for all purposes of this Ordinance, including, without limitation, the receiving <br />of payment of the principal. of and interest and premium; if any, on such 1997 Bond, the receiving <br />of notice and the giving of consent; (3) neither the' City nor the Registrar or Paying Agent shall <br />have any responsibility or obligation hereunder to any direct or indirect participant, within the <br />meaning of Section 17A of the Securities Exchange Act of 1934, as amended, of such Clearing <br />Agency, or any person on behalf of which, or otherwise in respect of which, any such participant <br />holds any interest in any 1997 Bond, including, without limitation, any responsibility or obligation <br />hereunder to maintain accurate records of any interest in any 1997 Bond or any responsibility or <br />obligation hereunder with respect to the receiving of payment of principal of or interest or <br />premium, if any, on any 1997 Bond, the receiving of notice or the giving of consent; and (4) the <br />Clearing Agency is not required to present any 1997 Bond called for partial redemption, if any, <br />prior to receiving payment so long as the Registrar and Paying Agent and the Clearing Agency <br />have agreed to the method for noting such partial redemption. <br />If either the City receives notice from the Clearing Agency which is currently the <br />registered owner of the 1997 Bonds to the effect that such Clearing Agency is unable or unwilling <br />to discharge its responsibility as a Clearing Agency for the 1997 Bonds, or the City elects to <br />discontinue its use of such Clearing Agency as a Clearing Agency for the 1997 Bonds, then the <br />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 1997 Bonds, as are <br />necessary or appropriate to discontinue use of such Clearing Agency as a Clearing Agency for the <br />1997 Bonds and to transfer the ownership of each of the 1997 Bonds to such person or persons, <br />including any other Clearing Agency, as the holder of the 1997 Bonds may direct in accordance <br />with this Ordinance. Any expenses of such discontinuance and transfer, including expenses of <br />printing new certificates to evidence the 1997 Bonds, shall be paid by the City. <br />-7- <br />
The URL can be used to link to this page
Your browser does not support the video tag.