96-140 Ordinance - Laserfiche WebLink

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-2- be determined by the Director of Finance in the certificate awarding the Notes in accordance with Section 7 of this ordinance (the Certificate of Award). The Notes shall be dated the date of issuance and shall mature on December 18, 1997; provided that the Director of Finance may, if he determines it to be necessary or advisable, establish a different maturity date that is on or after November 1, 1997, but before December 18, 1997, by setting forth that maturity date in the Certificate of Award. Section 4. The Notes shall be signed by the Mayor and the 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 only as fully registered notes and in the numbers and denominations as requested by the Original Purchaser (as defined in Section 7) and approved by the Director of Finance, provided that the entire principal amount may be represented by a single note. The Notes shall not have coupons attached, 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 the Note proceedings (as defined in Section 7) unless and until the certificate of authentication printed on the Note is signed by the Note Registrar (as defined in Section 6) 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, the Note proceedings. 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. Section 5. The debt charges on the Notes shall be payable when due in Federal Reserve funds of the United States of America, without deduction for services of the City's paying agent, upon presentation and surrender at the principal corporate trust office of the National City Bank, Cleveland, Ohio (the Paying Agent), to the persons in whose names the Notes are registered on the Note Register maintained by the Note Registrar, all as described in Section 6. Section 6. The Director of Finance is appointed to act as the authenticating agent, note registrar and transfer agent for the Notes (the Note Registrar). So long as any of the Notes remain outstanding, the City will cause the Note Registrar to maintain and keep at his office all books and records necessary for the registration, exchange and transfer of Notes as provided in this Section (the Note Register). Except as provided in Section 7, 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 the Note proceedings. Payment of or on account of the debt charges on any Note shall be made only to or upon the order of that person; the City, the Note Registrar and the Paying Agent shall not 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 office of the Note Registrar, together with a request for exchange signed by the registered owner or by a person legally empowered to do so in a form satisfactory to the Note Registrar. A Note may be transferred only on the Note Register upon presentation and surrender of the Note at the office of the Note Registrar together with an assignment signed by the registered owner or by a person legally empowered to do so in a form satisfactory to the Note Registrar. Upon exchange or transfer the Note Registrar shall complete, D03: [00523.DOCS.NOR05230]NOTE_ORD_NM_FIRE_SQUAD_$150.