Laserfiche WebLink
. � . <br /> . O . . <br /> � � � <br /> O � O <br /> � s � C ITY of ORON4 <br /> a �- ; � <br /> , ti <br /> ti <br /> RESOLUTION OF THE CITY COUNCIL <br /> ' ���kEsII04�G NO. � � G � . <br /> � . <br /> . hansfer, and any other expenses of the City or the Bond Registrar incurred in connection <br /> therewith(except any applicable tax, fee or other governmental charge) shall be paid by the . <br /> � City. The City and the Bond Registrar shall not be obligated to make any such exchange or <br /> transfer of Bonds during the fifteen (15) days next preceding the date of redemption in the <br /> a case of a proposed redemption of Bonds or to make any transfer during the fifteen (15) days - <br /> next preceding any February 1 or August 1 interest payinent date. <br /> 8. Interest on any Bond which is payable, and is puncivally paid or duly <br /> provided for, on any interest payment date shall be paid to the person in whose name that <br /> Bond (or one or more Bonds for which such Bond was exchanged) is registered at the close <br /> of Uusiness on the 15th day of the month preceding such interest payment date. Any interest <br /> on any Bond which is payable,but is not punctually paid or duly provided for, on any interest . <br /> pa}nnent date shall forthwith cease to be payable to the registered holder on the relevant <br /> regular record date solely by virtue of such holder having been such holder; and such <br /> • defaulted interest may be paid by the City in any lawful manner, if, after notice given by the <br /> City to the Bond Registrar of the proposed payment pursuant to this paragraph, such payment <br /> ' shall be deemed practicable by the Bond Registrar. Subject to the foregoing provisions of . <br /> this paragraph, each Bond delivered under this Resolution upon transfer of or in exchange for <br /> or in lieu of any other Bond shall carry all the rights to interest accrued and unpaid, and to <br /> accrue, which were carried by such other Bond and each such Bond shall bear interest from <br /> such date that neither gain nor loss in interest shall result from such transfer, exchange or <br /> substitution. <br /> 9. As to any Bond, the City and the Bond Registrar and their respective <br /> successors, each in its discretion,may deem and treat the person in whose name the same for <br /> the time being shall be registered as the absolute owner thereof for all purposes and neither <br /> the City nor the Bond Registrar nor their respective successors shall be affected by any notice <br /> to the contrary. Payment of or on account of the principal of any such Bond shall be made <br /> only to or upon the order of the registered owner thereof,but such registration may be <br /> " changed as aUove provided. All such payments shall be valid and effectual to satisfy and <br /> . ..: ..:. . . Y_ •.,.discharge the..liability upon;such,Bond to tlie�e�ctent;of the sum.or,:sums.:so,paid.;; . . <br /> ; 10. There is hereby created a special fund,to be known as the Refunding <br /> I. Bonds of 2004B Fund, for purpose of paying principal and interest on the Bonds, and in the <br /> event the principal of and interest upon the said Bonds shall become due and payable and � <br /> • there are insufficient moneys in said fund to pay such principal and interest, the City ' <br /> Treasurer is authorized and directed to pay said principal and interest from the general fund <br /> I and thereafter to reimburse said general fund from collections of special assessments for the . <br /> Page 10 of 13 <br /> i' <br />