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1996_Ordinances
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1996_Ordinances
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(h) All transfers or exchanges pursuant to this Paragraph 3 shall be made <br />is <br />without expense to the registered owner of such Bond or Bonds, except as otherwise herein <br />provided, and except that the Registrar for such series of Bonds shall require the payment by <br />the registered owner of such Bond or Bonds requesting such transfer or exchange of any tax or <br />other governmental charges required to be paid with respect to such transfer or exchange. All <br />Bonds surrendered pursuant to this Paragraph 3 shall be cancelled. <br />4. The full faith and credit of the City shall be and is irrevocably pledged to <br />the punctual payment of the principal of and premium, if any, and interest on the Bonds as the <br />same become due. In each year while the Bonds, or any of them, are outstanding and unpaid, <br />there shall be assessed, levied and collected, at the same time and in the same manner as other <br />taxes of the City are assessed, levied and collected, a tax upon all taxable property within the <br />City, over and above all other taxes, authorized or limited by law and without limitation as to <br />rate or amount, sufficient to pay when due the principal of and premium, if any, and interest on <br />the Bonds to the extent other funds of the City are not lawfully available and appropriated for <br />such purpose. <br />5. CUSIP identification numbers may be printed on the Bonds, but no such <br />number shall constitute a part .of. the contract evidenced by the particular Bonds upon which it <br />is printed and no liability shall attach to the City or any officer or agent thereof (including any <br />paying agent for the Bonds) by reason of such numbers or any use made.thereof (including any <br />use thereof made by the City, any such officer or any such agent) or by reason of any <br />inaccuracy, error or omission with respect thereto or in such use. All,expenses in relation to <br />• tl?e printing of such numbers on the Bonds shall be paid by the City; provided, however, that <br />the CUSIP Service Bureau charge for the assignment of such numbers shall be the responsibility <br />of and shall be paid for by the purchaser of the Bonds. <br />6. The City covenants and agrees to comply with the applicable provisions <br />of Sections 103 and 141-150 of the Internal Revenue Code of 1986, as amended, and the <br />applicable Treasury Regulations promulgated under such Sections 103 and 141-150 so long as <br />any Bond is outstanding. <br />7. The proceeds of the sale of the Bonds shall be applied to the payment of <br />the cost of the following public improvement projects of and for the City in substantially the <br />following respective amounts: <br />0 135133.1 017300 ORD <br />
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