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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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Last modified
12/3/2009 11:51:05 AM
Creation date
8/20/2009 12:22:25 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/10/2009
Ord-Res Number
9951-09
Bill Number
56-09
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commencing 1, Interest shall be calculated on the basis of twelve (12) thirty <br />(30)-day months for a three hundred sixty (360)-day year. <br />[The principal of and premium, if any, on this Bond is payable at the [principal corporate <br />trust] office of in the of ,Indiana, or of any successor <br />registrar and paying agent appointed by the City pursuant to the Ordinance hereinafter mentioned <br />(the "Registrar" and the "Paying Agent").] All payments of [principal of and] interest hereon <br />will be paid by cash or draft mailed or delivered by the Paying Agent to the Registered Owner <br />hereof at the address as it appears on the registration books kept by [the Controller of the City <br />(the "Registrar" or "Paying Agent") in the City or the Registrar ] as of the fifteenth day of the <br />month immediately preceding the applicable interest payment date or at such other address as is <br />furnished to the Paying Agent in writing by such Registered Owner. All payments on this Bond <br />shall be made in any coin or currency of the United States of America which, on the dates of <br />such payments, shall be legal tender for the payment of public and private debts. <br />Notwithstanding the foregoing paragraph, so long as this Bond is registered in the name <br />of the Indiana Finance Authority (the "Authority"), principal of and interest on this Bond shall be <br />paid by wire transfer to a financial institution designated by the Authority on the due date of such <br />payment or, if such date is a day when financial institutions are not open for business, on the <br />business day immediately preceding such due date. So long as the Authority is the registered <br />owner of this Bond, this Bond shall be presented for payment as directed by the Authority. <br />So long as the Authority is the registered owner of this Bond, it is understood that <br />principal shall not be payable and interest shall not accrue on this Bond until such principal <br />amount has been advanced pursuant to requests made by the City to the Authority. <br />This Bond and the other bonds of this issue, together with the interest payable hereon and <br />thereon, are payable solely from and secured by an irrevocable pledge of and constitute a charge <br />upon all of the net revenues (defined to be gross revenues after deduction only for the payment <br />of the reasonable expenses of operation, repair and maintenance) derived from the sewage works <br />of the City, including the existing works, the improvements and extensions acquired or <br />constructed out of the proceeds of this Bond and the issue of which it is a part, and all additions <br />and improvements thereto subsequently acquired or constructed; and rank on a parity with the <br />Prior Bonds (as defined in the Ordinance (defined herein)). The City shall not be obligated to <br />pay the principal of or interest on this Bond except from the special fund, entitled the "Sewage <br />Works Sinking Fund" heretofore created by Ordinance No. ,adopted on , <br />and subsequently continued, provided from the net revenues of such sewage works, and <br />neither this Bond nor any of the bonds of the issue of which this Bond is a part shall constitute an <br />indebtedness of the City within the meaning of the provisions and limitations of the constitution <br />of the State of Indiana. <br />The City, the Registrar and the Paying Agent may deem and treat the Registered Owner <br />hereof as the absolute owner hereof for the purpose of receiving payment of or on account of <br />principal hereof and the interest due hereon and for all other purposes, and none of the City, the <br />Registrar or the Paying Agent shall be affected by any notice to the contrary. <br />BDDBOI 5738468v1 A-2 <br />
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