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1991 Resolutions
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1991 Resolutions
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2/6/2009 3:37:14 PM
Creation date
6/18/2001 5:14:55 PM
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Ord/Resolutions
Year
1991
Ord/Resolutions - Type
Resolutions
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- 5 <br /> <br /> (e) Any Bond may be exchanged at the principal office <br />of the registrar for such series of Bonds for a like aggregate <br />principal amount of such Bonds in other authorized principal <br />amounts of the same series, interest rate and maturity. <br /> <br /> (f) Any Bond of a given series may, in accordance with <br />its terms, be transferred upon the books of registry by the <br />person in whose name it is registered, in person or by his duly <br />authorized agent, upon surrender of such Bond to the registrar <br />for cancellation, accompanied by a written instrument of transfer <br />duly executed by the registered owner in person or his duly <br />authorized agent, in form satisfactory to the registrar. <br /> <br /> (g) Ail transfers or exchanges pursuant to this <br /> paragraph shall be made without expense to the registered owner <br /> of such Bonds, except as otherwise herein provided, and except <br /> that the registrar shall require the payment by the registered <br /> owner of the Bond requesting such transfer or exchange of any tax <br /> or other governmental charges required to be paid With respect to <br /> such transfer or exchange. All Bonds surrendered pursuant to <br />~this paragraph shall be cancelled. <br /> <br /> 4. The full faith and credit of the City shall be and <br />hereby is irrevocably pledged to the punctual payment of the <br />principal of and interest on the Bonds as the same respectively <br />become due and payable. In each year while the Bonds, or any of <br />them, are outstanding and unpaid, there shall be assessed, levied <br />and collected, at the same time and in the same manner as other <br />taxes in the City are assessed, levied and collected, an ad <br />valorem tax upon all property subject to taxation by the City, <br />without limitation as to rate or amount, sufficient to provide <br />for the payment of the principal of and interest on the Bonds as <br />the same respectively become due and payable. <br /> <br /> 5. CUSIP identification-numbers may be printed on the <br />Bonds, but no such number shall constitute or be deemed to be a <br />part of the contract evidenced by the particular Bond upon which <br />it is printed and no liability shall attach to the City or any <br />officer or agent thereof (including any paying agent for the <br />Bonds) by reason of such numbers or any use made thereof <br />(including any use thereof made by the City, any such officer or <br />any such agent) or by reason of any inaccuracy, error or omission <br />with respect thereto or in such use. All expenses in relation to <br />the printing of such numbers on the Bonds shall be paid by the <br />City including the CUSIP Service Bureau charge for the assignment <br />of such numbers. <br /> <br /> 6. The City covenants that it shall comply with the <br />provisions of Sections 103 and 141-150 of the Internal Revenue <br />Code of 1986, and the Treasury Regulations promulgated or <br />proposed to be promulgated thereunder, applicable to the Bonds, <br />throughout the term of the Bonds. <br /> <br /> <br />
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