92-160 Ordinance - Laserfiche WebLink

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I??..?..w,arrw+.»-+w.uawswww+ ...:. ......... . . . ....:.:.. ,, u . r ?.,?.. . . . .... I -... .,..?...:.. a .....-K.:,c..+.asuvw,.:.a.=...?sa:u. xm?..:.a. .. _a . .. ... .... , • ? ?1 ? ? ?°?..... -...... • _ 2 - per year (computed on a 360-day per year basis), payable on June 15 and December 15 of each year (the Interest Payment Dates) commencing June 15, 1993, until the principal amount is paid or payment is provided for. The Notes shall all bear the same rate of interest. The Notes shall bear interest from the most recent date to which interest has been paid or provided for or, if no interest has been paid or provided for, f.rom their date. The rate of interest on the Notes shall be determined by the Director of Finance in the certificate awarding the Notes in accordance with Section 8 of this ordinance (the Certificate of Award). The Notes shall be dated as of the date of issuance and shall mature on December 15, 1994. Section 4. National City Bank, Cleveland, Ohio, is appointed to act as the authenticating agent, note registrar, transfer agent and paying agent for the Notes (the Note Registrar). The Mayor and the Director of Finance shall sign and deliver, in the name and on behalf of the City, the Note Registrar Agreement between the City and the Note Registrar (the Registrar Agreement) in substantially the form as is now on file with the Clerk of Counci.l.. The Registrar Agreement is approved, together with any changes or amendments that are not inconsistent with this ordinancP and not substantially adverse to the City and that are approved by the Mayor and the Director of Finance on behalf of the City, all of which shall be conclusively evidenced by the signing of the Registrar Agreement or amendments to the Registrar Agreement. The Director of Finance shall provide for the payment of the services rendered and for reimbursement of expenses incurred pursuant to the Registrar Agreement from the proceeds of the Notes to t.he extent available and then from other money lawfully available and appropriated or to be appropriated for that purpose. Section 5. The debt charges on the Notes shall be payable in lawful money of the United States of America, without deduction for services of the Note Registrar as paying agent. Principal shall be payable when due upon presentation and surrender of the Notes at the principal corporate trust office of the Note Registrar. Interest on a Note shall be paid on each Interest Payment Date by check or draft mailed to the person in whose name the Note was registered, and to that person's address appearing, on the Note Register (as defined in Section 7) at the close of business on the first day of the calendar month in which that Interest Payment. Date occurs (the Record Date). Notwithstanding the foregoing, if and so long as the Notes are issued in book entry form in accordance with Section 7, principal of and interest on the Notes shall be payable in the manner provided in the agreement between the City and the Depository described in Section 7. Section 6. The Notes shall be signed by the Mayor and Director of Finance, in the name of the City and in their official capacities, provided that either or both of those signatures may be a facsimile. The Notes shall be issued in one lot and only as fully registered notes in the denominations of $5,000 or any integral multiple thereof. The Notes shall not have coupons attached, shall be issued in the denominations and numbers as requested by ttie original purchaser and approved by the Director of Finance, shall be numbered as determined by the Director of Finance and shall express upon their faces