Laserfiche WebLink
<br />( <br /> <br />( <br /> <br />( <br /> <br />(e) Execution. All Bonds and Notes shall be executed in a manner <br />consistent with applicable law in effect at the time of their issuance. Unless <br />otherwise provided by law or the applicable Series Legislation, all Bonds and <br />Notes shall be signed by the Mayor and Fiscal Officer, provided that (i) in the <br />case of Bonds both of such signatures may be a facsimile and (ii) in the case of <br />Notes one of such signatures may be a facsimile, and Bond counsel is authorized <br />to print their approving opinion on the Bonds and Notes. Pursuant to Article <br />VII, Section 1 of the Charter, the Legal Officer shall prepare the Bonds and <br />Notes and shall endorse on each his approval of the form and correctness thereof <br />by his manual or facsimile signature. <br /> <br />(f) Additional Authorizations. The Mayor, the Fiscal Offièer, the <br />Clerk and the Legal Officer are hereby authorized and directed to take any and <br />all actions necessary or proper consistent with the terms of this General Bond <br />Legislation and the applicable Series Legislation to effect the execution, <br />authentication and delivery of any Bonds and Notes to the Original Purchaser, <br />including without limitation the execution of financing statements, assignments <br />and instruments necessary or appropriate to perfect, to the extent permitted by <br />law, the lien applicable to the Pledged Receipts and the Additional Pledged <br />Receipts or any part thereof and the furnishing of the appropriate certificates, <br />opinions and other instruments provided for in this General Bond Legislation and <br />the applicable Series Legislation. <br /> <br />(g) Use of Book-entrv svstem. As provided for in the applicable <br />Series Legislation, Bonds may originally be issued solely in Book-entry form to <br />a Depository to be held in a Book-entry system and: (i) such Bonds shall be <br />registered in the name of the Depository or its nominee, as registered owner, and <br />immobilized in the custody of the Depository; (ii) there shall, unless otherwise <br />requested by the Depository, be a single bond representing each maturity of such <br />Bonds; (iii) the beneficial owners in Book-entry form shall have no right to <br />receive Bonds in the form of physical securities or certificates; (iv) ownership <br />of benefi.cial interests in Book-entry form shall be shown by a book-entry on the <br />system maintained and operated by the Depository and its Participants, and <br />transfers of the ownership of beneficial interests shall be made only by book- <br />entry by the Depository and its Participants; and (v) such Bonds shall not be <br />transferable or exchangeable, except for transfer to another Depository or to <br />another nominee of a Depository, without further action by the Legislative <br />Authority of the Issuer. <br /> <br />If any Depository determines not to continue to act as a Depository <br />for Bonds for use in a Book-entry system, the Fiscal Officer may attempt to have <br />established a securities depository/book-entry relationship with another <br />qualified Depository. If the Fiscal Officer does not or is unable to do so, the <br />Fiscal Officer, after making provision for notification of the beneficial owners <br />by the then' Depository and making any other arran<]ements deemed necessary, shall, <br />after due authorization by the Legislative Authority of the Issuer, permit <br />withdrawal of such Bonds from the Depository, and the Registrar shall <br />authenticate and deliver bond certificates in bearer or registered form, as the <br />Fiscal Officer determines, to the assigns of the Depository or its nominee, all <br />at the cost and expense (inèluding any costs of printing), if the event is not <br />the result of Issuer action or inaction, of those persons requesting such <br />issuance. Bond certificates authenticated and delivered pursuant to this <br />paragraph shall be in the denomination of $5,000 each or any integral multiple <br />thereof. <br /> <br />If Bonds are withdrawn from a Depository, and printed bond <br />certificates in registered form are, or are to be, authenticated and delivered <br />pursuant to this section, and if, in the opinion of Bond Counsel to the Issuer, <br />the delivery of coupon bonds payable to bearer would not result in the interest <br />on any of such Bonds then outstanding ceasing to be excluded from gross income <br />for purposes of federal income taxation, the Legislative Authority, without the <br />consent Of or notice to any of the owners of such Bonds, may authorize the <br /> <br />-8- <br />