92-159 Ordinance - Laserfiche WebLink

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• ,??., , p,,,, - 3 - 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 shail not have coupons attached, shall be issued in the denominations and numbers as requested by the 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 the purpose, in summary terms, for which they are issued and that they are issued pursuant to this ordinance. No Note shall be valid or obligatory for any purpose or shall be entitled to any security or benefit under this ordinance unless and until the certificate of authentication printed on the Note is signed by the Note Registrar as authenticating agent. Authentication by the Note Registrar shall be conclusive evidence that the Note so authenticated has been duly issued, signed and delivered under, and is entitled to the security and benefit of, this ordinance. The certificate of authentication may be signed by any authorized officer or employee of the Note Registrar or by any other person acting as an agent of the Note Registrar and approved by the Director of Finance on behalf of the City. The same person need not sign the certificate of authentication on all of the Notes. Section 7. So long as any of the Notes remain outstanding, the City will cause the Note Registrar to maintain and keep at its principal corporate trust office all books and records necessary for the registration, exchange and transfer of Notes as provided in this Section (the Note Register). Subject to the provisions of Section 5, the person in whose name a Note is registered on the Note Register shall be regarded as the absolute owner of that Note for all purposes of this ordinance. Payment of or on account of the debt charges on any Note shall be made only to or upon the order of that person; neither the City nor the Note Registrar shall be affected by any notice to the contrary, but the registration may be changed as provided in this Section. All such payments shall be valid and effectual to satisfy and discharge the City's liability upon the Note, including interest, to the extent of the amount or amounts so paid. Any Note may be exchanged for Notes of any authorized denomination upon presentation and surrender at the principal corporate trust office of the Note Registrar, together with a request for exchange signed by the registered