86-064 Ordinance - Laserfiche WebLink

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. . . . .. . .. ....... .......,wrb.e µ,.... All Bonds shall be negotiable instruments within tne meaning ot Chapter 165 ot the Ohio Revised Code, subject to applicable provisions for registration, and shall express on their faces the purpose tor which they are issued and such otner statements or legends as may be required by law. It Bonds or portions of Bonds are duly called for redemption and if on such redemption date moneys for the redemption of all the Bonds to be redeemed, toqether with accrued interest to the redemption date, shall be neld by the Trustee so as to be available therefor, then from and after such redemption date such Bonds or portions of Bonds shall cease to bear interest. The !'sonds shall be executed on behalf of the Issuer by the Executive and Fiscal Officer of the Issuer, provided that such signatures may be racsimiles, and tne corporate seal of the Issuer or a tacsimile tnereof shall be affixed or impressed thereon. In case any ofticer whose siqnature or a facsimile thereot shall appear on any Bond shall cease to be such otficer berore tne issuance, authentication or delivery of the Bond, such signature or tacsimile thereof shall nevertheless be valid and sufficient tor all purposes, the same as if he had remained in ottice until after that time. Section 5. Security tor the Bonds. As provided herein, tne Bonds shall be payable solely from the Bond Fund, the Reserve Fund and the Pledged Receipts and secured by a pledge ot and lien on the Pledqed Receipts, the Bond Fund and the Reserve Fund, and shall be further secured by the Mortqaqe, the Guaranty Aqreement, the Assignment of Rents, the Second Mortqages and the Indenture. Anything in the Bond Leqislation, the Indenture, the Bonds or any other agreement or instrument to the contrary notwltristanding, neither the Bond Leqislation, the Bonds, the Indenture, the Loan Agreement, the Bond Purchase Agreement, the Mortgage, the Assignment of Rents, the Second Mortgages nor the Guaranty Agreement shall represent or constitute a debt or pledge of the taith and credit or the taxing power of the Issuer, and each Bond shall contain on the face thereoi a statement to that effect. Nothing herein shall be deemed to prohibit the Issuer, of its own volition, from using, to the extent it may be lawfully authorized to do so, any other resources or revenues for the fulfillment of any of tne terms, conditions or obligations of the Indenture, the Bond Legislation or the Bonds. Section 6. Sale of Bonds. The Bonds are hereby sold and awarded to the Original Purchaser, in accordance with its offer therefor in the Bond Purchase Agreement, at a purchase price of 100$ of the principal amount of the Bonds being purchased by it, agqregating $650,000, plus accrued interest (if any) from the date of the Bonds to their date of delivery to the Original Purchaser. The Executive and the Fiscal Officer ar•e authorized and directed to make on behalf of the -14-