Laserfiche WebLink
the Bonds and portions thereof called for redemption sha11 become <br />due and payable on the redemption date, and, subject to the provisions <br />of subsection (d) of Section 3, upon presentation and surrender thereof <br />at the place or places specified in that notice, shall be paid at the <br />redemption price, plus accrued interest to the redemption date. If <br />moneys for the redemption of all of the Bonds and portions thereof to <br />be redeemed, together with accrued interest thereon to the redemption <br />date, are held by the Bond Registrar on the redemption date, so as to <br />be available therefor on that date and, if notice of redemption has been <br />deposited in the mail as aforesaid, then from and after the redemption <br />date those Bonds and portions thereof called for redemption shall <br />cease to beaz interest and no longer sha11 be considered to be <br />outstanding. If those moneys shall not be so available on the <br />redemption date, or that notice sha11 not have been deposited in the <br />mail as aforesaid, those Bonds and portions thereof shall continue to <br />bear interest, until they are paid, at the same rate as they would have <br />borne had they not been called for redemption. All moneys held by <br />the Bond Registrar for the redemption of particulaz Bonds shall be <br />held in trust for the account of the registered owners thereof and shall <br />be paid to them, respectively, upon presentation and surrender of <br />those Bonds. <br />Section 4. Execution and Authentication of Bonds• Appointment of Bond Registrar. <br />The Bonds sha11 be signed by the Mayor and the Director of Finance, in the name of the City and in <br />their official capacities, provided that either or both of those signatures may be a facsimile. The <br />Bonds shall be issued in the Authorized Denominations and numbers as requested by the Original <br />Purchaser and approved by the Director of Finance, shall be numbered as determined by the Director <br />of Finance in order to distinguish each Bond from any other Bond and to distinguish Current Interest <br />Bonds from any Capital Appreciation Bonds, and sha11 express upon their faces the purpose, in <br />suxnmary terms, for which they are issued and that they are issued pursuant to this ordinance. <br />National City Bank, Cleveland, Ohio, is appointed to act as the initial Bond Registrar. <br />The Director of Finance shall sign and deliver, in the name and on behalf of the City and in her <br />official capacity, the Registrar Agreement between the City and the Bond Registrar, in substantially <br />the form as is now on file with the Clerk of Council. The Registrar Agreement is approved, together <br />with any changes or amendments that are not inconsistent with this ordinance and not substantially <br />adverse to the City and that are approved by the Director of Finance on behalf of the City, all of which <br />shall be conclusively evidenced by the signing of the Registrar Agreement or amendments thereto. <br />The Director of Finance shall provide for the payment of the services rendered and for reimbursement <br />of expenses incurred pursuant to the Registrar Agreement, except to the extent paid or reimbursed by <br />the Original Purchaser in accordance with the Purchase Agreement, from the proceeds of the Bonds <br />to the extent available and then from other money lawfully available and appropriated or to be <br />appropriated for that purpose. <br />No Bond sha11 be valid or obligatory for any purpose or sha11 be entitled to any <br />security or benefit under the Bond proceedings unless and until the certificate of authentication <br />-11- <br />?.???? <br />„w _ . , .