1992_Ordinances - Laserfiche WebLink

Home Browse Search

- 5 - • (45th) day next preceding the date fixed for redemption. If notice of redemption of any Bond shall be given as aforesaid 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, if any, payable upon such redemption shall have been duly made or provided for, interest on such Bonds shall cease to accrue from and after the date so specified for the redemption thereof. SECTION 4. Execution and Authentication of Bonds. (a) The Bonds shall be executed, for and on behalf of the City, by the manual or facsimile signature of the Mayor and the City Treasurer of the City and shall have a facsimile of the corporate seal of the City imprinted thereon, attested by the manual or facsimile signature of the Clerk of Council of the City. (b) The City Manager or the Deputy City Manager shall direct the Registrar for the Bonds to authenticate such Bonds and no such Bond shall be valid and obligatory for any purpose unless and until the certificate of authentication endorsed on such Bond shall have been manually executed by an authorized signator 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 issuance and delivery of the Bonds of the issue of 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 last day of the calendar month next preceding an interest payment date and prior to such following interest payment date, the certificate shall be dated as of such following interest payment date; and (iv) in all other instances the certificate shall be dated as of the actual date upon which the Bond is authenticated by the Registrar. (c) The execution and authentication of the Bonds in the manner above set forth is adopted as a due and sufficient authentication of the Bonds. SECTION 5. Appointment of Registrar; Payment of Bonds; Books of Registry; Exchanges and Transfers of Bonds. (a) Crestar Bank in the City of Richmond, Virginia, is hereby appointed Registrar for the Bonds (hereinafter referred to as the "Registrar"). (b) Both the principal of and premium, if any, 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. . (c) Principal of and premium, if any, on the Bonds shall be payable upon presentation and surrender thereof at the principal corporate trust office of the Registrar for the Bonds.