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signatures may be a facsimile signature; shall bear the <br />corporate seal of the City or a facsimile thereof; <br />shall be issued in fully registered form; and shall be <br />registered as to both principal and interest at the <br />corporate trust office of the City's registrar, pres- <br />entlyAmeriTrust Company, Cleveland, Ohio (the 'Regis- <br />trar'). The principal on the Bonds shall be payable <br />upon presentation and surrender to the Registrar. In- <br />terest on any Bond shall be paid on each Interest Pay- <br />ment Date by check or draft mailed to the person in <br />whose name that Bond is registered (the 'Holder') on <br />the registration books of theCity maintained by the <br />Registrar and at the address appearing thereon at the <br />close of business on the fifteenth day of the calendar <br />month next preceding the Interest Payment Date (the <br />'Regular Record Date'). Any interest not timely paid <br />shall cease to be payable to the person who is the <br />Holder as of the Regular Record Date and shall be pay- <br />able to the person who is the Holder at the close of <br />business on a Special Record Date for the payment of <br />such defaulted interest. Such Special Record Date shall <br />be fixed by the Council of the City whenever moneys <br />become available for payment of the defaulted interest, <br />and notice of the Special Record Date shall be given <br />to Holders not less than ten (10) days prior thereto. <br />The principal and interest on the Bonds is payable in <br />lawful money of the United States of America without <br />deduction for the services of the Registrar." <br /> <br />is amended to read: <br /> <br />"Section 3. Said Bonds shall express upon their faces <br />the purpose for which they are issued and that they are <br />issued pursuant to this ordinance; shall be designated <br />'Waterford Breakwall Bonds'; shall be executed by the <br />Mayor and by the Director of Finance, both of whose <br />signatures may be a facsimile signature; shall bear the <br />corporate seal of the City or a facsimile thereof; <br />shall be issued only in fully registered form; and shall <br />be registered as to both principal and interest at the <br />corporate trust office of the City's registrar, pres- <br />ently AmeriTrust Company, Cleveland, Ohio (the 'Regis- <br />trar'). The principal of the Bonds shall be payable <br />upon presentation and surrender thereof to the Regis- <br />trar. Interest on any Bond shall be paid on each <br />Interest Payment Date by check or draft mailed to the <br />person in whose name that Bond is registered (the <br />'Holder') on the registration books of the City main- <br />tained by the Registrar at the address appearing there- <br />on at the close of business on the fifteenth day of the <br />calendar month next preceding the Interest Payment Date <br />(the 'Regular Record Date'). Any interest not timely <br />paid (the 'Defaulted Interest') shall cease to be pay- <br />able to the person who is the Holder as of the Regular <br />Record Date and shall be payable to the person who is <br />the Holder at the close of business on a special record <br />date (the 'Special Record Date') for the payment of such <br />Defaulted Interest. SUCh Special Record Date shall be <br /> <br />-3- <br /> <br /> <br />