Minutes 01/30/1996 - Laserfiche WebLink

Home Browse Search

355 SECTION 5. (a) The Bonds shall be executed, for and on behalf of the City, b~the Daniel or facsimile signatures of the Mayor and the Deputy city Manager for Finance of the City, and shall have an impre'ssion of the corporate seal of the City or a facsimile thereof affixed thereto or imprinted thereon, attested by the manual or facsimile signature of the City Clerk of the City. (b) The City Manager shall direct the Registrar for the Bonds of a given series to authenticate such Bonds and no such Bond shall be valid or obligatory for any purpose unless and until the certificate of authentication endorsed on each Bond shall have been manually executed by or on behalf of the Registrar. Upon the authentication of any Bonds the Registrar shall insert in the certificate of authentication the date as of which such Bonds are authenticated as follows: (i) if the~ Bond is authenticated prior to the first interest payment date, the certificate shall be dated as of the date of the initial delivery of and payment for the series of Bonds of which this Bond is one; (ii) if the Bond is authenticated upon an interest payment date, the certificate shall be dated as of such interest payment date; (iii) if the Bond is authenticated after the fifteenth (15th) day of the calendar month next preceding an interest payment date and prior to such interest payment date, the certificate shall be dated as of such interest payment date; and (iv) in all other instances vthe'certificate shall be dated as of the interest payment date next preceding the date upon which the Bond is authenticated, (c) The execution of the Bonds in the manner above set forth is adopted as a due and sufficient authentication of the Bonds. SECTION 6. (a) Both the principal of and interest on the Bonds shall be payable in such coin or currency of the United States of America as at the respective dates of payment thereof is legal tender for public and private debts. (b) Interest on the Bonds shall be Payable by check or draft mailed by the registrar to the registered owners of such Bonds at their respective addresses as such addresses appear on the books of registry kept pursuant to the provisions of this Section 6. Principal of and premium, if any, on the Bonds shall be payable on presentation and surrender thereof at the office of the Registrar. (c) At all times du~ing which any Bond of any series remains outstanding and unpaid, the Registrar for such series shall keep or cause to be kept at its principal office books of registry for the registration, exchange and .transfer of the Bonds. Upon presentation at the office of the Registrar for such purpose, the Registrar, under such reasonable regulations as it may prescribe, shall register, exchange or transfer, or cause to be registered, exchanged or transferred, on the books of registry the Bonds as herein set forth. (d) The books of registry shall at all times be open for inspection by the City or any duly authorized officer thereof. (e) Any Bond may be exchanged at the office of the Registrar for such series of Bonds for a like aggregate principal amount of such Bonds in other authorized principal amounts of the same series, interest rate and maturity. (f) Any Bond of a given series may, in accordance with its terms, be transferred upon the books of registry by the 'person in whose name it is registered, in person or by his duly authorized agent, upon surrender of such Bond to the Registrar for cancellation, accompanied by a written instrument of transfer duly executed by the registered owner in person or his duly authorized agent, in ~orm satisfactory to the Registrar.