2006 033 Ordinance - Laserfiche WebLink

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ORDINANCE NO. 2006-33 PAGE 8 Section 4. Execution and Authentication of Bonds• Appointment of Bond Re i?strar. The Bonds shall be signed by the Mayor, the President of Council and the Director of Finance, in the name of the Village and in their official capacities, provided that any or all of those signatures may be a facsimile. The Bonds sha11 be issued in the Authorized Denominations and nuxnbers as requested by the Original Purchaser and approved by the Director of Finance, shall be numbered as determined by the Director of Finance m order to distinguish each Bond from any other Bond, and sha11 express upon their faces the purpose, in sluninary terms, for which they are issued and that they are issued pursuant to this ordinance. The Huntington National Bank, Columbus, Ohio, is appointed to act as the initial Bond Registrar. The Mayor, the President of Council and the Director of Finance shall sign and deliver, in the name and on behalf of the Village and in his official capacity, the Registrar Agreement between the Village and the Bond Registrar, in substantially the form as is now on file with the Clerk of Counc'il: The Registrar Agreement is approved, together with any changes or amendments that are not inconsistent with this ordinance and not substantially adverse to the Village and that are approved by the Mayor, the President of Council and the Director of Finance on behalf of the Village, a11 of which shall be conclusively evidenced by the signing of the Registrar Agreement or amendments thereto. The Director of Finance shall provide for the payment of the services rendered and for reimbursement of expenses incurred pursuant to the Registrar Agreement, from the proceeds of the Bonds to the extent available and then from other money lawfully available and appropriated or to be appropriated for that purpose. No Bond shall be valid or obligatory for any purpose or shall be entitled to any security or benefit under the Bond proceedings unless and until the certificate of authentication printed on the Bond is signed by the Bond Registrar as authenticating agent. Authentication by the Bond Registrar shall be conclusive evidence that the Bond so authenticated has been duly issued, signed and delivered under, and is entitled to the security and benefit of, the Bond proceedings. The certificate of authentication may be signed by any authorized officer or employee of the Bond Registrar or by any other person acting as an agent of the Bond Registrar and approved by the Director of Finance on behalf of the Village. The same person need not sign the certificate of authentication on all of the Bonds. Section 5. Registration• Transfer and Exchange; Book EntrSystem. (a) Bond Re i? strar. So long as any of the Bonds remain outstanding, the Village will cause the Bond Registrar to maintain and keep the Bond Register at its principal corporate trust office. Subject to the provisions of subsection (d) of Section 3 and Section 7, the person in whose name a Bond is registered on the Bond Register shall be regarded as the absolute owner of that Bond for a11 purposes of the Bond proceedings. Payment of or on account of the debt charges on any Bond shall be made only to or upon the order of that person; neither the Village nor the Bond Registrar shall be affected by any notice to the contrary, but the registration may be changed as provided in this Section. All such payments shall be valid and effectual to satisfy and discharge the Village's liability upon the Bond, including interest, to the extent of the amount or amounts so paid. - (b) Transfer and Exchange. Subject to any inhibitions of book entry form during any period in which the Bonds are in book entry form, any Bond may be (i) exchanged for Bonds of any Authorized Denomination upon presentation and surrender at the principal corporate trust office of the Bond Registrar, together with a request for exchange signed by the registered owner or by a person legally empowered to do so in a form satisfactory to the Bond Registrar, and (ii)