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Resolution 6684
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Reso 0001-7499
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Reso 6600 - 6699 March 28, 2016 - November 28, 2016)
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Resolution 6684
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12/14/2016 11:47:32 AM
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12/14/2016 11:47:04 AM
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66 84 <br />City shall execute and the Bond Registrar shall deliver Bonds in accordance with the provisions <br />of this Resolution. For every such exchange or transfer of Bonds, whether temporary or <br />definitive, the City or the Bond Registrar may make a charge sufficient to reimburse it for any <br />tax, fee or other governmental charge required to be paid with respect to such exchange or <br />transfer, which sum or sums shall be paid by the person requesting such exchange or transfer as a <br />condition precedent to the exercise of the privilege of making such exchange or transfer. <br />Notwithstanding any other provision of this Resolution, the cost of preparing each new Bond <br />upon each exchange or transfer, and any other expenses of the City or the Bond Registrar <br />incurred in connection therewith (except any applicable tax, fee or other governmental charge) <br />shall be paid by the City. The City and the Bond Registrar shall not be obligated to make any <br />such exchange or transfer of Bonds during the fifteen (15) days next preceding the date of <br />redemption in the case of a proposed redemption of Bonds or to make any transfer during the <br />fifteen (15) days next preceding any February 1 or August 1 interest payment date. <br />S. Interest on any Bond which is payable, and is punctually paid or duly provided <br />for, on any interest payment date shall be paid to the person in whose name that Bond (or one or <br />more Bonds for which such Bond was exchanged) is registered at the close of business on the <br />15th day of the month preceding such interest payment date. Any interest on any Bond which is <br />payable, but is not punctually paid or duly provided for, on any interest payment date shall <br />forthwith cease to be payable to the registered holder on the relevant regular record date solely <br />by virtue of such holder having been such holder; and such defaulted interest may be paid by the <br />City in any lawful manner, if, after notice given by the City to the Bond Registrar of the <br />proposed payment pursuant to this paragraph, such payment shall be deemed practicable by the <br />Bond Registrar. Subject to the foregoing provisions of this paragraph, each Bond delivered <br />under this Resolution upon transfer of or in exchange for or in lieu of any other Bond shall carry <br />all the rights to interest accrued and unpaid, and to accrue, which were carried by such other <br />Bond and each such Bond shall bear interest from such date that neither gain nor loss in interest <br />shall result from such transfer, exchange or substitution. <br />9. As to any Bond, the City and the Bond Registrar and their respective successors, <br />each in its discretion, may deem and treat the person in whose name the same for the time being <br />shall be registered as the absolute owner thereof for all purposes and neither the City nor the <br />Bond Registrar nor their respective successors shall be affected by any notice to the contrary. <br />Payment of or on account of the principal of any such Bond shall be made only to or upon the <br />order of the registered owner thereof, but such registration may be changed as above provided. <br />All such payments shall be valid and effectual to satisfy and discharge the liability upon such <br />Bond to the extent of the sum or sums so paid. <br />10. There is hereby created a special fund, to be known as the General Obligation <br />Street Reconstruction Refunding Bonds of 2016A Fund, for purpose of paying principal and <br />interest on the Bonds, and in the event the principal of and interest upon the said Bonds shall <br />become due and payable and there are insufficient moneys in said fund to pay such principal and <br />interest, the City Treasurer is authorized and directed to pay said principal and interest from the <br />general fiend and thereafter to reimburse said general fund from collections of taxes levied <br />pursuant hereto. The taxes levied hereby irrevocably appropriated and pledged to the payment of <br />principal of and interest on the Bonds herein authorized, and the moneys and investments in the <br />General Obligation Street Reconstruction Refunding Bonds of 2016A Fund shall be used for no <br />Z <br />SALE RESOLUTION <br />
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