2025-031 Ordinance - Laserfiche WebLink

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Original Purchase (the Paying Agent). The Director of Finance is authorized to enter into any agreements determined rrecessary in connection with obtaining the services of paying agent for the Notes, after determining that the signing thereof will rut aWanger the hands or securities of the City. Section 5. Execution of Notes Book Entry Svstern. The Notes shall be signed by the Mayor and Director of Finance, in the name of the City and in their official capacities, provided dust one of those signatures may be a facsimile. The Notes shall be issued in the de tomindioru and numbers as requested by the Original Purcuaser ma approved by the Director of Funds; provided that the entire principal amount may be represented by a single mate, and provided further dun an Note shall be issued, or exchangeable fir other Notes, m a denomination less than $100,000. The Notes may be issued as fully registered securities (f which the Director of Finance will serve se Mee register) and in book entry or other ancertificated forth N accordance with Section 9.96 and Chapter 133 of the Revised Cade, with a single physical now certificate representing the entire issue (or the consolidated issue into which it is combined with one or more other carte issues of the City in accordance with Section 6), if it is determined by the Director of Finance that issuance of fully registered securities in that form will facilitate the sale and delivery of the Notes. The Notes shall not have coupons attached, shall he numberid as deemmined 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. As used in this Section ana this Ordinance: "Book may firm" or "book entry system" means a form or system under which (i) the ownership of beneficial interests in the Notes and the principal of, and interest on, the Notes (book entry interests) may be tmwfetred only through a book envy, and (ii) a single physical NOW certificate is issued by the City and payable only m a Depository or its nonunce, with such Notes deposited with and retained in the custody of the Depository or its agent for that purpose. The book entry maimairted by others that the City is the record that identifies the owner of book entry interests w the NOW and that principal and interest "Depository" means any security depository that is a clearing agency wader federal law Operating and maintaining, orb its Participants or otherwise, a book entry system to record Ownership of book entry interests in the Notes or the principal of, and interest on, the Notes and to effst transfers of the Notes, in book entry f , and includes and means initially The Depositary Trust Company (a limited pup use trust company), "Participant" means any Participant connecting with a Depository under a book entry system add includes security brokers and dealers, banks and trust compares, and clearing cormcams The Notes may be issued to a Depnsmry for use in a book entry system and if and as long as a book miry system is uWized, (it the Notes may he issued in the form of a single Note made payable to the Depository or its nmnlde s and dgrosited with and retained in the custody of the Depository or its agent for that purpose; (ii) the owners of book army in eests shall have no right to receive the Notes in the form of physical securities or certificates; (in) ownership of book entry interests shall be shown by book entry on the system maintained and opeetel by the Depository -3-