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2003-05-05
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2003
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2003-05-05
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City Council
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5/5/2003
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Minutes
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7 <br />4.(a) 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 <br />payment thereof is le gal tender for public and private debts. <br /> <br />(b)Principal of and premium, if any, on the Bonds of a given series shall be payable upon <br />presentation and surrender thereof at the office of the Registrar. <br /> <br />(c)Interest on the Bonds shall be payable by check mail ed by the Registrar to the <br />registered owners of such Bonds at their respective addresses as such addresses appear on <br />the books of registry kept pursuant to the provisions of this Paragraph 4. <br /> <br />(d)At all times during which any Bond of any series remains out standing and unpaid, the <br />Registrar shall keep or cause to be kept, at its office, books of registry for the registration, <br />exchange and transfer of Bonds of such series. Upon presentation of a Bond or Bonds at <br />the office of the Registrar, the Registrar, un der such reasonable regulations as the <br />Registrar may prescribe, shall register, exchange or transfer, or cause to be registered, <br />exchanged or transferred, such Bond or Bonds on the books of registry as hereinbefore <br />set forth. <br /> <br />(e)The books of registry shal l at all times be open for inspection by the City or any duly <br />authorized officer thereof. <br /> <br />(f)Any Bond may be exchanged at the office of the Registrar for a like aggregate <br />principal amount of such Bonds in other authorized principal sums and of the same <br />se ries, interest rate and maturity. <br /> <br />(g)Any Bond of any series may, in accordance with its terms, be transferred upon the <br />books of registry by the person in whose name it is registered, in person or by his duly <br />authorized agent, upon surrender of such Bond t o the Registrar for cancellation, <br />accompanied by a written instrument of transfer duly executed by the registered owner or <br />his duly authorized agent, in form satisfactory to the Registrar. <br /> <br />(h)All transfers or exchanges pursuant to this Paragraph 4 shall b e made without expense <br />to the registered owner of such Bond or Bonds, except as otherwise herein provided, and <br />except that the Registrar shall require the payment by the registered owner of such Bond <br />or Bonds requesting such transfer or exchange of any tax or other governmental charges <br />required to be paid with respect to such transfer or exchange. All Bonds surrendered for <br />transfer or exchange pursuant to this Paragraph 4 shall be cancelled. <br /> <br />5. The full faith and credit of the City shall be and is irrevoc ably pledged to the punctual <br />payment of the principal of and premium, if any, and interest on the Bonds as the same <br />become due. In each year while the Bonds, or any of them, are outstanding and unpaid, <br />the Council is authorized and required to levy and co llect annually, at the same time and <br />in the same manner as other taxes of the City are assessed, levied and collected, a tax <br />upon all taxable property within the City, over and above all other taxes, authorized or <br />limited by law and without limitation as t o rate or amount, sufficient to pay when due the <br />principal of and premium, if any, and interest on the Bonds to the extent other funds of <br />the City are not lawfully available and appropriated for such purpose. <br /> <br />6. CUSIP identification numbers may be printe d on the Bonds, but no such number shall <br />constitute a part of the contract evidenced by the particular Bonds upon which it is <br />printed and no liability shall attach to the City or any officer or agent thereof (including <br />any paying agent for the Bonds) by re ason of such numbers or any use made thereof <br />(including any use thereof made by the City, any such officer or any such agent) or by <br />reason of any inaccuracy, error or omission with respect thereto or in such use. All <br />expenses in relation to the printing o f such numbers on the Bonds shall be paid by the <br />City; provided, however, that the CUSIP Service Bureau charge for the assignment of <br />such numbers shall be the responsibility of and shall be paid for by the purchaser of the <br />Bonds. <br /> <br />
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