Minutes 04/14/1987 - Laserfiche WebLink

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April 14, 1987 wit~ the sale of the Bonds, the C~ty Manager zs authorized to execute on behalf of the City and to deliver to tko Underwriters a Bond Purchase Agreement setting forth the terms and conditions upon wh~ich the 'Bonds shall~e~sold Co the Underwriters. knything herein to the contrary notwith- standing, no Bonds shall be issued and sold To provide for the refunding in advance of their stated maturities the 1982 Refunded Public Improvement Bonds or the 1~85 Refunded Public Improvement Bonds unless, as required by Section 1(c) of the aforementioned resolution adopted by the State Council on March 27, 1987, at the time of the sale thereof such Bonds qualify as refunding bonds issUed'to accomplish a Type A Refunding meeting the criteria of Part II.A. of the Guidelines. If any Bond (or any portion of the principal amount thereof in installments of $5,000) shall be called for redemption, notice of the redemption thereof, specifying the date, number and maturity of such Bond, the date and place or places fixed for its redemption, the premium, if any, payable upon such redemption, and if less than the entire principal amount of such Bond is to be redeemed, that suc.h Bond must be surrendered in exchange for the principal amount thereof zo be redeemed and a new Bond or Bonds issued equalling in principal amount that portion of. the pr.incipal a~ount thereof not to be redeemed, shall be mailed not less than thirty ~30) days prior to the date fixed for redemption by firstclass ma-it, 'posta~e prepaid; ~ the registered holder of such Bond at his address as it appea~s on the books of registry kept by the Registrar and Paying ~9ent for the Bo~ds to be hereinafter designated by the Council (the "R~istrar"), as of the close of~business on the forty-fifth '(45th) day preceding the-date-fi~d"f~-~e~r~ion- If notice of the redemption of any Bond shall have been g~ven as aforesaid, and payment of the principal amount of such Bond (or the p~rtion of the principal amount thereof to be redeemed) and of the accrued interest and premium, i~ any, payable upon such r~demption shall have been duly made or provided for, interest on such Bond shall cease to accrue f~om and after the date so specified for the-redemption ~thereof. 2. The principal of and premium, if any, and interest on the Bonds shall be payable in such coin or ourrenc~ of the United States of kmerica as at the respec- tive dates of payment is legal tender for public and private debts. The principal of and premium, if any, on the Bonds shall be payable at the principal corporate trust office of the Registrar. The interest on the Bonds shall be paid by check mailed by the Registrar to the holders of record of the Bonds as of the fifteenth (15th) day of the calendar month next preceding each interest pa~ent date. At all times during which any Bond remains outstanding and unpaid, the Registrar shall ~eep, or cause to be ~ept, at its principal corporate trusz office books of registry for the registration, exchange and transfer of the Bonds. Upgn presentation at its principal corporate trust office for such purpose, the Registrar, under such reason- able regulations as it may prescribe, shall register, exchange or transfer, or cause to be registered, exchanged or transferred, on ~he books 'of registry the Bonds as herein set forth. The books of registry shall at all t~meS be open for inspection by the City or any duly authorized officer thereof. Any Bond may be exchanged at the principal corporate trus~ office of the Registrar for a like aggregate principal ~amount of such Bonds in other authorized principal amounts of the same interest rate and maturity. Any Bond may, ls accordance with i~s terms, be transferred upon the books of registry by the persQn in wh6se nam% it is registered, in person,or by his ddl~ authorized agent, upon surrender of such Bond to tko Registrar for cancellation, acc mpan~ed~ by a written instrument of transfer duly executed by the reg iste~r~d holder in person or his duly authorized agent, in fo~m satisfactory to the Registrar.