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285
<br />
<br />September 27, 1977
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<br />redemption shall have been duly made or provided for, interest on such Bonds shall cease
<br />from and after the date so specified for their redemption and any coupons representing such
<br />interest shall be void.
<br />
<br /> The Bonds may be registered by the holder as to principal only or as to both principal
<br />and interest in accordance with the provisions for such registration to be enforsed thereon
<br />as set forth in Section 9 hereof.
<br />
<br /> 2. The principal of and premium, if any, and interest on the Bonds shall be payable
<br />in such coin or currency of the United States of America as at the respective dates of payment
<br />is legal tender for the payment of public and private debts. If any Bond shall not then
<br />be registered as to both principal and interest'the interest thereon payable prior to maturity
<br />shall be payable at the principal office of The Qhase Manhattan Bank (National Association)
<br />in the City of New York, New York, as the paying agent for the Bonds. The interest on any
<br />Bond while registered as to both principal and interest shall be payable by the City by check
<br />or draft mailed to the registered owner at such owner's address as shown on the books of
<br />registry. The principal of and premium, if any, on the Bonds are payable at the principal
<br />office of the said payiFg agent for the Bonds.
<br />
<br /> 3. The full faith and credit of the City shall be and hereby is irrevocably pledged
<br />to the payment of the principal of and interest on the Bonds as the same become due. In
<br />each year while the Bonds, or any of them, are outstanding and unpaid, there shall be assessed
<br />levied and collected, at the same time and in the same manner as other taxes in the City
<br />are assessed, levied and collected, upon all property of the City subject to taxation by
<br />the City, a tax sufficient to provide for the payment of the principal of and interest on
<br />the Bonds as the same become due.
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<br />of the following public improvement projects in substantially
<br />
<br />The proceeds of the sale of the Bonds shall be applied to the payment of the costs
<br /> the following respective amounts
<br />
<br />$ 336,820.00
<br />610,112.00
<br />439,512.00
<br />97,150.00
<br />1,043,600.O0
<br />469,581.00
<br />849,154.00
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<br /> Community Services
<br /> Education
<br /> Parks and Recreation
<br /> Public Safety
<br /> Urban Transportation
<br /> Drainage, Curbs and Gutters
<br /> Urban Renewal'
<br />7Seawall and Waterfront Improve-
<br /> ments 3,154,071.00
<br /> Total ~$~,000,000.00
<br />
<br />provided that if any such project shall require less than the entire amount set forth above
<br />opposite such project, the difference may be applied to any other such project.
<br />
<br /> 5. The City shall make no use of the proceeds of the sale of the Bonds which would
<br />cause the Bonds to be "arbitrage bonds" under Section 103(c) of the U. $. Internal Revenue
<br />Code of 1954, as amended, and the City shall comply with the applicable regulations of the
<br />Internal Revenue Service adopted under said Section 103(c) so long as any Bond is outstanding.
<br />
<br /> 6. The Bonds shall be sold in conjunction with the sale of the $3,000,000. Public Utilit~
<br />Bonds of the City authorized by this Council at the meeting at which this resolution is adoptei
<br />The notice of sale of the Bonds referred to in Section 10 hereof and the legal notice referredl
<br />to in Section 11 hereof shall each contain provisions suitably recognizing and providing
<br />with respect to the foregoing.
<br />
<br /> 7. The Bonds shall be executed, for and on behalf of the City, by the manual or facsimil
<br />signatures of the Mayor and City Treasurer of the City, and the corporate seal of the City
<br />shall be impressed or a facsimile thereof imprinted on the Bonds and attested by the manual
<br />or facsimile signature of the City Clerk of the City; provided that at least one of such
<br />signatures on the Bonds shall be a manual signature. The Bonds except when registered as
<br />to both principal and interest, shall have coupons attached thereto representing the interest
<br />on the Bonds, which coupons shall be executed by the facsimile signature of the said City
<br />Treasurer.
<br />
<br /> 8. .¢~SIP identification numbers may be printed on the Bonds, but neither the failure
<br />to print any such number on any Bond nor any error or omission with respect thereto shall
<br />constitute cause for failure or refusal by the successful bidder for the Bonds to accept
<br />delivery of and pay for the Bonds in accordance with the terms of its bid. No such number
<br />shall constitute or be deemed to be a part of any Bond or a part of the contract evidenced
<br />thereby and no liability shall attach to the City or any of its officers or agents because
<br />of or on account Of any such number or any use made thereof. Ail expenses in relation to
<br />the~printing of such numbers on the Bonds shall be paid by the City; provided, however, that
<br />the CUSIP Service Bureau charge for the assignment of such numbers shall be the responsibility
<br />of and shall be paid for by the successful bidder for the Bonds.
<br />
<br /> A copy of the complete final legal opinion with respect to the Bonds, with the name
<br />of the attorney or attorneys rendering same, together with a certification of the City Clerk,
<br />executed by a facsimile signature of that officer, to the effect that such copy is a true
<br />and correct copy of the legal opinion which was dated as of the date of delivery of and paymen
<br />for the Bonds, may be printed on the Bonds.
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<br /> 9. The Bonds, the coupons pertaining to the Bonds and the Provisions for Registration
<br />to be endorsed-on the Bonds shall be in substantially the following forms, respectively,
<br />to,Wit:
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