Minutes 01/14/1992 - Laserfiche WebLink

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January 14, 1992 in each year and commencing in such year as shall be determined by the Ci~ Manager;, and shall bear interes~ payable on such dates as shall be cletermi~ed by tim C~ Manager, such interest to be payable on a date which is not more than twelve (12) mo~O~s fi.om the date of the Bonds of such series and semiannually thereafter. The City Manage* is authorized to determine in accordance with and subject to the provisions of ~.his resuinfian: the dare or dates of the Bonds: the interest payment dates thereof: the maturity dates thereof;, the amount of principal maturing on each maturity date; the place or places of payment thereof and the paying agent or paymg agents therefor: the place or places or registrafion, exchange and transfer thereof and the registrar therefor; and whether or not the Bonds shall be subject to redemption prior to their stated maturity or maturities and if s~bject to such redemption, the premiums, if any, payable upon such redemption and the respective periods in which such premiums are payable. (b) In the event the Bonds of any series shall be dated as of a date other than the first day of a calendar month or the dates on which interest is payable on such sar?as are other than the first days of calendar months, the provisions of paragraph 2 with regard to the form of such Bonds shall be modified as the City Manager shall determine to be necessary or appropriate. (c) If the Bonds are subject to redemption and if any Bonds (or any portions thereof in iastallmems of $5.000 or any integral muhiple thereof) are to be redeemed, notice of su~_~h redemption, specifying the date. numbers and maturity or maturities of the Bond or ~onds to be redeemed, the date and place or pinces fked for their redemption, the premium, ff any, payable upon such redemption, and if le~ than the entire principal amount of a Bond called for redemption is to be redeemed, that such Bond must be surrendered in exchange for the principal amount thereof to be redeemed and the issuance of a new Bond or Bonds equalling in principal amount that portin~ of the principal amount of the Bond to be surrendered not to be redenman, shall be mm'led not less than thirty (30) days prior to the dgte fixed for redemption hy first class mail, postage prepaid~ to the registered owner of such Bond at his address' as it appears on the books of registry kept by the registrar as of the close of bnstness on the forty-fifth (45th) day next preceding the date fixed for redemption. If any Bonds shall have been called for redemption and notice thereof shall have been given as hereinabove set forth, and payment of the principal amount of such Bonds [or of the principal amount thereof to be redeemed), and of the accrued interest and premium, ff any, payable upon such redemption shalI have been duly made or provided for, interest on such Bonds (or on the portion of the principal amount thereof to be redeemed) shall cease to accrue from and after the date so specified for their redemption. 2. (a) The Bonds shall be executes, for and on behalf of the City, by the manual or facsimile signatures of the Mayor and the Director of Finance of file City, and~ shall have an impression of the corporate seal of the City or a facsimile thereof affixed thereto or imprinted thereon, at{ested by the manual or facsimile signa~'e of the City Clerk of the City. (b) The City Manager shall direct the registrar f~r the Bonds of a given series to authenticate such Bond~ and no such Bond shall be valid or obligatory for any purpose unless and untiI the certificate of authentication endorsed on each Bond shall have been manually executed by or on behalf of the regi~rar. Upon the authentication of any Bonds the registrar shall insert in the certificate of authentication the date as of which suc~ 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 af which such 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 nex~ 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 the certificate shall be dated as oftha interest payment date next preceding the date upon which the Bond is authenticated. (c) The execution of the Bonds in the manner above se~ forth is adopted as a due and sufficient authentication of the Bonds. 3. (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 thee registrar to the registered owners of such Bonds a/t their respective addresses as such addresses appear on the books of registry kept pursuant to the promsions of this paragraph. Principal of and premium, if any, on the Bonds shall be payable aa presentation and surrender thereof at the principal office of the registrar. (c) At all times during which any Bond of any series remains ~msranding and unpaid, the registrar for such series shall keep or cause to be kept at iB principal office books of registry for the registration, exchange and transfer of the Bonds. Upon presentation at the principal office of the registrar for such purpose, the registrar, under such reasonable regulations as it may prescribe, shalI register, exchange or transfer, or cause to be re~stered, exchanged or transferred, on the books of registry the Bands as herein set forth. (d) The books of registry, shall a t mes be open for inspection by the City or any duly authorized officer thereof. (e) Any Bond may be exchanged at the principal 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 sertes, interest rate and maturity. (f) Any Bond of a given serxes may, in accordance with its terms, be transferred upon the books of registry by the person in whose name it /s registered, in