37-09 Repeal Ordinance 26-09 - Laserfiche WebLink

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the City. The same person need not sign the certificate of authentication on all of the Notes. Section 6. Registration; Transfer and Exchange; Book-Entry System. (a) Registration. So long as any of the Notes remain outstanding, the City must cause the Registrar to maintain the Register. The person in whose name a Note is registered on the Register will be regarded as the absolute owner of that Note for al] purposes of the Note Proceedings. Payment of the Debt Service on any Note will be made only to or upon the order of that person. (b) Transfer and Exchange. Any Note may be transferred or .exchanged for Notes of any Authorized Denomination, as provided in the Registrar Agreement. (c) Book-Entry System. Unless otherwise provided in the Certificate of Award, the Notes must be originally issued in Book-Entry Form to a Depository, initially The Depository Trust Company, for use in a Book- Entry System upon the terms provided in the Registrar Agreement. The City and the Registrar must recognize and treat the Depository as the owner of the Notes for all purposes, including payment of Debt Service, redemption and other notices, and enforcement of remedies. If any Depository determines not to continue to act as a Depository for the Notes for use in a Book-Entry System or if the City determines to discontinue the Book-Entry System, the Director of Finance may attempt to establish a securities depository relationship with another qualified Depository. If the Director of Finance does not or is unable to do so, the Director of Finance must direct the Registrar to make provision for notification of the book-entry interest owners by the Depository and to make any other arrangements necessary for the withdrawal of the Notes from the Book-Entry System. Section 7. Sale of the Notes. {a) Private Sale. The Notes will be sold at private sale in accordance with law, the provisions of this ordinance, and any Purchase Agreement, at a purchase price to be determined by the Director of Finance in the Certificate of Award. That purchase price must not be less than 97% of the principal amount of the Notes, plus any accrued interest on the Notes from their date to the Closing Date. The Director of Finance may either sell the Notes to an investment banker, acting as underwriter, or to a financial institution or other entity or person, in a private placement. The Director of Finance may enter into a Purchase Agreement with the -4-