36-09 Repeal Ord 21-09 - Laserfiche WebLink

Home Browse Search

(c) Maturity. The Notes must mature one year from their date. The Director of Finance may, if she determines it to be in the best interests of the City, establish a different maturity date, less than one year from the Closing Date. (d) Interest. The Notes must bear interest from their date at a rate not to exceed 9% per annum, payable at maturity. Interest will be calculated on the basis of a 360-day year consisting of twelve, 30-day months. The rate of interest on the Notes must be determined by the Director of Finance in the Certificate of Award. (e) Redemption before Stated Maturity. The Notes will not be subject to redemption before maturity, unless otherwise determined by the Director of Finance in the Certificate of Award. The Director of Finance may determine, in the Certificate of Award, to provide that the Notes will be subject to redemption, and may establish, in the Certificate of Award, notice provisions for that redemption, and any price for that redemption, which may be any percentage of the principal amount redeemed, not exceeding 110%. (f) Form, Numbering, and Denomination. The Notes must be issued in fully registered form. They must be issued in Book-Entry Form unless the Director of Finance determines in the Certificate of Award that it would not be in the best interest of the City for the Notes to be in Book-Entry Form. They must be issued in Authorized Denominations and in the numbers and amounts as requested by the Original Purchaser and approved by the Director of Finance. They must be numbered as determined by the Director of Finance in a manner to distinguish each Note from any other Note. They must express on their faces the purpose for which they are issued and that they are issued in accordance with this ordinance. The Notes will be designated "Various Purpose Refunding Notes, Series 2009," unless otherwise designated in the Certificate of Award. Section 4. Payment. The Debt Service on the Notes must be payable in lawful money of the United States of America, without deduction for the services of the Registrar as paying. agent. Debt Service on the Notes will be payable when due upon presentation and surrender of the Notes at the office of the Registrar. The Director of Finarice may select such other paying agent as she deems appropriate. Section 5. Sienin~ and Authentication of the Notes. The Notes must be signed on behalf of the City by the Mayor and the Director of Finance. In the absence of the Mayor, the Notes must be signed by the President of Council and, in the absence of the Director of Finance, the Notes must be signed by any deputy Director of Finance. Both of those signatures may be a facsimile. No Note will be valid or obligatory for any purpose or will be entitled to any security or benefit under the Note Proceedings unless and until the certificate of authentication printed on the Note is signed by the Registrar as authenticating agent. Authentication by the Registrar will be conclusive evidence that the Note so authenticated has been duly issued, signed, and delivered under, and is entitled to the security and benefit of, the Note Proceedings. The certificate of authentication may be signed by any authorized officer or employee of the Registrar or by any other person 3