85-082 Ordinance - Laserfiche WebLink

Home Browse Search

- 3 - principal amount of the Bond surrendered and bearing interest at the same rate and maturing on the same date. If manual signatures on behalf of the City are required, the Bond Registrar shall undertake the exchange or transfer of Bonds only after the new Bonds are signed by the authorized officers of the City. In all cases of exchanged or transferred Bonds, the City shall sign and the Bond Registrar shall authenticate and deliver Bonds in accordance with the provisions of this ordinance. The exchange or transfer shall be without charge to the owner, except that the City and Bond Registrar may make a charge sufficient to reimburse them for any tax or other governmental charge required to be paid with respect to the exchange or transfer. The City or the Bond Registrar may require that those charges, if any, be paid before the procedure is begun for the exchange or transfer. All Bonds issued upon any exchange or transfer shall be valid obligations of the City, evidencing the same debt, and entitled to the same security and benefit under this ordinance as the Bonds surrendered upon that exchange or transfer. Any Bond surrendered to the Bond Registrar for payment, retirement, exchange, replacement or transfer shall be cancelled by the Bond Registrar. The City may at any time deliver to the Bond Registrar for cancellation any previously authenticated and delivered Bonds that the City may have acquired in any manner whatsoever, and those Bonds shall be promptly cancelled by the Bond Registrar. Written reports of the snrrender and cancellation of Bonds shall be made to the Director of Finance of the City by the Bond Registrar at least twice each calendar year. The cancelled Bonds shall be retained for a period of time and then returned to the City or destroyed by the Bond Registrar as directed by the Director of Finance in accordance with the Agreement. Section 7. The Bonds are offered at par and any accrued interest to the Director of Finance, as officer in charge of the Bond Retirement Fund of the City. Bonds not purchased for the Bond Retirement Fund or for other funds of the City shall be advertised for public sale and sold in accordance with law and the provisions of this ordinance. The Director of Finance shall cause the Bonds to be prepared and, following their sale, shall have the Bonds signed and delivered, together with a true transcript of proceedings with reference to the issuance of the Bonds, to the original purchaser upon payment of the purchase price. Section 8. If in the judgment of the Mayor and the Director of Finance a disclosure document in the form of an official statement is appropriate or necessary in connection with the original issuance of the Bonds, each or both of those officers in their official capacities are authorized to prepare or cause to be prepared on behalf of the City an official statement and any necessary supplements thereto, and on behalf of the City to use and distribute, or authorize the use and distribution of, that official statement and any supplements thereto in connection with the original issuance of the Bonds, and to sign on behalf of the City and in their official capacities, that official statement and any supplements thereto approved by those officers. Those officers are each authorized to sign and deliver, on behalf of the City and in their official capacities, such certificates in connection with the accuracy of the offfcial statement and any supplements thereto as may, in their judgment, be necessary or appropriate. Section 9. The proceeds from the sale of the Bonds, except any premium and accrued interest, shall be paid into the proper fund or funds, and those proceeds are appropriated and shall be used for the purpose for which the Bonds are being issued. Any portion of those proceeds representing