Ordinance 99-78 - Laserfiche WebLink

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Principal and interest on the 1999B Bond shall be payable at the office of the Paying Agent (the designated corporate trust office of the Paying Agent if the City's Finance Department is not the Paying Agent). The 1999B Bond shall be numbered in such manner as may be prescribed by the Registrar. The 1999B Bond shall be payable, with respect to interest and principal, in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. The City may prepay the 1999B Bond in whole or in part, at any time or from time to time, without penalty or premium, by paying to the registered holder all or part of the principal amount of the 1999B Bond, together with the unpaid interest accrued on the amount of principal so prepaid to the date of such prepayment. Each prepayment shall be made on such date and in such principal amount as shall be specified by the City in a written notice delivered to the registered owner not less than ten (10) business days prior thereto. If such prepayment shall be for only a portion of the unpaid principal balance of the 1999B Bond, such prepayment shall be applied against the obligation of the City to pay future amortization installments on the 1999B Bond in the inverse order in which such amortization installments shall become due. Notice having been given as aforesaid, the principal amount stated in such notice shall become due and payable on the prepayment date stated in such notice; and the amount of principal shall be paid (i) in case the entire unpaid balance of the principal of the 1999B Bond is to be paid, upon presentation and surrender of the 1999B Bond to the office of the Paying Agent (the designated corporate trust office, if the Paying Agent is not the City's Finance Department), and (ii) in case only part of the unpaid balance of principal of the 1999B Bond is to be paid, upon presentation of such 1999B Bond at the office of the Paying Agent (the designated corporate trust office, if the Paying Agent is not the City's Finance Department) for notation thereon of the amount of principal then paid or for issuance of a replacement 1999B Bond in the principal amount not redeemed. Notwithstanding the provisions of clause (ii) above, so long as the 1999B Bond shall be registered in the name of the Bank, a partial prepayment may be effected by payment to the Bank of the principal without surrender of the 1999B Bond. If, on the prepayment date, funds for the payment of the principal amount to be prepaid shall have been provided to the Paying Agent, as above provided, then from and after the prepayment date interest on such principal amount of the 1999B Bond shall cease to accrue. If said funds shall not have been so paid on the prepayment date with respect to principal and on the next succeeding Payment Date with respect to interest, the principal amount of the 1999B Bond shall continue to bear interest until payment thereof SECTION 2.3 EXECUTION OF THE 1999B BOND. The 1999B Bond shall be executed in the name of the City by the signature of the Mayor of the City and its official seal shall be affixed thereto or imprinted or reproduced thereon and attested by the City Clerk. The signatures of the Mayor of the City and City Clerk on the 1999B Bond may be manual or facsimile signatures. In case anyone or more of the officers who shall have signed or sealed the 1999B Bond shall cease to be such officer of the City before the 1999B Bond so signed and sealed shall have been actually sold and delivered, such 1999B Bond may nevertheless be sold and delivered as herein provided and may be issued as if the person who signed or sealed such 1999B Bond had not ceased to hold such office. The 1999B Bond may be signed and sealed on behalf of the City by such person who at the actual time of the execution of the 1999B Bond shall hold the proper office, although at the date the 1999B Bond 9