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89-100 Ordinance
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89-100 Ordinance
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1/11/2014 12:31:12 PM
Creation date
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North Olmsted Legislation
Legislation Number
89-100
Legislation Date
12/6/1989
Year
1989
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N~ ~ <br />number of days actually elapsed. The term "Business Day", as <br />used herein, means any day, other than a Saturday or Sunday, on <br />which commercial banks located in the cities in which the <br />principal corporate trust office of the Trustee and the principal <br />office of the Bank, as hereinafter defined, are located are not <br />required or authorized to remain closed and on which The New York <br />Stock Exchange is not closed. This Project Bond will bear <br />interest from the most recent date to which interest has been <br />paid or duly provided for or, if no interest has been paid or <br />duly provided for, from its date. <br />If any Interest Payment Date, date of maturity of this <br />Project Bond, or date fixed for redemption of this Project Bond, <br />is not a Business Day, then payment of such interest or principal <br />or premium hereon may be made on the next succeeding Business Day <br />with the same force and effect as if such payment were made on <br />such Interest Payment Date, date of maturity or date of <br />redemption and no interest shall accrue hereon for such period <br />after such Interest Payment Date, date of maturity or date fixed <br />for redemption. <br />The principal of and premium, if any, on this Project Bond <br />is payable upon presentation and surrender hereof at the <br />principal corporate trust office of the Trustee, presently The <br />Central Trust Company, N.A., Cincinnati, Ohio (the "Trustee"). <br />Interest is payable on each Interest Payment Date by check or <br />draft mailed to the person in whose name this Project Bond (or <br />one or more predecessor bonds) is registered (the "Holder") at <br />the close of business on the Business Day preceding such Interest <br />Payment Date (the "Regular Record Date") on the registration <br />books for this issue maintained by the Trustee, as Registrar, at <br />the address appearing therein. Notwithstanding the foregoing, <br />interest on any Project Bond in the denomination of $100,000 or <br />more shall, at the request of such Holder, be paid by wire <br />transfer in immediately available funds to the bank account <br />number and address filed with the Trustee by such Holder. Any <br />interest which is not timely paid or duly provided for shall <br />cease to be payable to the Holder hereof (or of one or more <br />predecessor bonds) as of the Regular Record Date, and shall be <br />payable to the Holder hereof (or of one or more predecessor <br />bonds) at the close of business on a Special Record Date to be <br />fixed by the Trustee for the payment of that overdue interest. <br />Notice of the Special Record Date shall be mailed to Holders not <br />less than ten days prior thereto. The principal of, premium, if <br />any, and interest on this Project Bond are payable in lawful <br />money of the United States of America, without deduction for the <br />services of the Paying Agent. <br />THIS PROJECT BOND HAS BEEN ISSUED UNDER THE PROVISIONS OF <br />CHAPTER 165 OF THE OHIO REVISED CODE AND DOES NOT CONSTITUTE AN <br />INDEBTEDNESS, GENERAL OBLIGATION, OR A PLEDGE OF THE FAITH AND <br />CREDIT OF THE ISSUER, THE STATE OF OHIO OR ANY POLITICAL <br />SUBDIVISION THEREOF. PRINCIPAL, INTEREST AND ANY PREMIUM ON THIS <br />PROJECT BOND IS PAYABLE SOLELY FROM THE REVENUES AND OTHER MONEYS <br />-2- <br />
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