Ordinances 2013 - Laserfiche WebLink

Home Browse Search

Notwithstanding anything to the contrary herein, by 5:00 p.m. on the date prior to the sale date of any Bonds identified in the official notice of sale for the Bonds, if either no underwriter or only one underwriter has advised of its intention to bid on any series of the Bonds, the City Representative, after consultation with the City's financial advisor and the City's bond counsel, is authorized to remove such series of Bonds from the bidding process and to pursue a negotiated sale for such series of Bonds. The approval of the final terms and conditions of the Bonds, subject to the foregoing parameters, shall be evidenced conclusively by the execution and delivery of the Bonds in accordance with paragraph 8 of this Ordinance. 5. Form of Bonds. The Bonds shall be in substantially the same form as the form presented at this meeting, with such appropriate variations, omissions, and insertions as are permitted or required by this Ordinance. There may be endorsed on the Bonds such legend or text as may be necessary or appropriate to conform to any applicable rules and regulations of any governmental authority or any usage or requirement of law with respect thereto. 6. Book-Entry-Only Form. The Bonds shall be issued in book-entry-only form. The Bonds shall be issued in fully-registered form and registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York ("DTC") as registered owner of the Bonds, and immobilized in the custody of DTC. One fully-registered Bond in typewritten or printed form for the principal amount of each maturity of the Bonds shall be registered to Cede & Co. Beneficial owners of the Bonds shall not receive physical delivery of the Bonds. Principal, premium, if any, and interesf payments on the Bonds shall be made to DTC or its nominee as registered owner of the Bonds, on the applicable payment date. -4-