2007-028 Ordinance - Laserfiche WebLink

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-2- The Bonds shall mature in the following principal amounts on October 1 of each year (the Maturity Dates) as follows: Year Principal Amount 2007 $ 22,500 2008 21,000 2009 22,000 2010 22,500 2011 24,000 ; provided that, subject to the provisions of Section 1 and the limitation set forth in Section 133.21(A)(2)(a) of the Revised Code, the principal amount of Bonds maturing on any two or more of those Maturity Dates may be increased ar decreased as specified by the Director of Finance in the Certificate of Award, consistently with her determination of the best interest of and financial advantages to the City. The Bonds shall not be subject to redemption prior to maturity. The Bonds shall be signed in their official capacities by the Mayor and the Director of Finance, provided that either ar both of such signatures may be a facsimile, and shall express upon their faces the purpose for which they are issued and that they are issued pursuant to this Ordinance, the City Charter and the provisions of Chapter 133 of the Revised Code. The Bonds shall be numbered as determined by the Director of Finance. No Bond shall be valid or become obligatory for any purpose or shall be entitled to any security or benefit under this Ordinance unless and until a certificate of authentication 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 authenticated and delivered hereunder and is entitled to the security and benefit of this Ordinance. The certificate of authentication shall be signed by the Bond Registrar. Section 3. The Directar of Finance is hereby appointed to act as the paying agent, bond registrar, authenticating agent and transfer agent (herein referred to collectively as the "Bond Registrar") for the Bonds. Section 4. The debt charges on the Bonds shall be payable in lawful money of the United States of America without deduction for the services of the Bond Registrar. Principal of the Bonds shall be payable when due upon presentation and surrender of the Bonds at the office of the Bond Registrar. Interest on the Bonds shall be payable on each Interest Payment Date by check or draft mailed or otherwise delivered to the person in whose name the Bond was registered, and to that person's address appearing, on the Bond Register (as defined in Section 5 hereofl, at the c?ose of business on the 15th day of the calendar month preceding that Interest Payment Date. Notwithstanding the foregoing, if and so long as a single Bond is issued to represent the entire issue, principal and interest shall be paid upon presentation of the Bond to the Bond Registrar for the proper endorsement of payments (and surrender upon final payment). Section 5. So long as any of the Bonds remains outstanding, the Board will cause the Bond Registrar to maintain and keep at her office all books and records necessary for the