89-100 Ordinance - Laserfiche WebLink

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officer, as such, past, present, or future, of the Issuer, whether directly or through the Issuer, or otherwise, for the payment for or to the Issuer or any receiver thereof, or for or to any Holder of any Bond, or otherwise, of any sum that may be due and unpaid by the Issuer upon any of the Bonds. Any and all personal liability of every nature, whether at common law or in equity, or by statute or by constitution or otherwise, of any such member or officer, as such, to respond by reason of any act or omission on his or her part, or otherwise, for, directly or indirectly, the payment for or to the Issuer or any receiver thereof, or for or to the owner or any Holder of any Bond, or otherwise, of any sum that may remain due and unpaid upon any Bond, shall be deemed to be and is hereby expressly waived and released as a condition of and consideration for the execution and delivery of the Indenture and the issuance of the Bonds. THE BONDS DO NOT NOW AND SHALL NEVER REPRESENT OR CONSTITUTE OR GIVE RISE TO A GENERAL OBLIGATION, LIABILITY OF, OR A CHARGE AGAINST THE GENERAL CREDIT OR TAXING POWERS OF THE STATE OF OHIO OR THE ISSUER, BUT SHALL BE PAYABLE SOLELY FROM THE REVENUES. The Project Bonds are issuable only as fully registered bonds in the denominations of $5,000 and any integral multiple thereof and are exchangeable for Project Bonds of other authorized denominations in equal aggregate principal amounts at the office of the Registrar specified on the face hereof, but only in the manner and subject to the limitations provided in the Indenture. This Project Bond is transferable at the office of the Registrar, by the Holder in person or by his attorney, duly authorized in writing, upon presentation and surrender hereof to the Registrar. The Registrar is not required to transfer or exchange (i) any Project Bond during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of Project Bonds and ending at the close of business on the day of such mailing, or (ii) any Project Bonds so selected for redemption in whole or in part. The Indenture permits certain amendments or supplements to the Agreement, the Indenture, the Letter of Credit and the Project Note not prejudicial to the Holders to be made with the consent of the Bank but without the consent of or notice to the Holders, and other amendments or supplements thereto to be made with the consent of the Bank and the Holders of not less than a majority in aggregate principal amount of the Bonds then outstanding. The Indenture permits any amendments to the Mortgage or the Assignment to which the Bank has consented. DETERMINATION OF INTEREST RATE The initial interest rate on this Project Bond shall be established by the Executive Officer and shall be in effect until the first Interest Rate Determination Date. Thereafter, except as provided below, for each succeeding six month period the interest rate on the Project Bonds shall be the Six Month -~-