Ordinance 99-72 - Laserfiche WebLink

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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 1999 Bond in the principal amount not redeemed. Notwithstanding the provisions of clause (ii) above, so long as the 1999 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 1999 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 1999 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 1999 Bond shall continue to bear interest until payment thereof. SECTION 2.3 EXECUTION OF THE 1999 BOND. The 1999 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 1999 Bond may be manual or facsimile signatures. In case anyone or more of the officers who shall have signed or sealed the 1999 Bond shall cease to be such officer of the City before the 1999 Bond so signed and sealed shall have been actually sold and delivered, such 1999 Bond may nevertheless be sold and delivered as herein provided and may be issued as if the person who signed or sealed such 1999 Bond had not ceased to hold such office. The 1999 Bond may be signed and sealed on behalf of the City by such person who at the actual time of the execution of the 1999 Bond shall hold the proper office, although at the date the 1999 Bond shall be actually delivered such person may not have held such office or may not have been so authorized. The 1999 Bond shall bear thereon a certificate of authentication, in the form set forth on Exhibit A attached hereto, executed manually by the Registrar (when the City's Finance Department shall act as Registrar, the certificate of authentication shall be manually executed by the City's Finance Director). Only if a 1999 Bond shall bear thereon such certificate of authentication shall it be entitled to any right or benefit under this Ordinance and no 1999 Bond shall be valid or obligatory for any purpose until such certificate of authentication shall have been duly executed by the Registrar. The certificate of authentication of the Registrar upon the 1999 Bond executed on behalf of the City shall be conclusive evidence that the 1999 Bond so authenticated have been duly authenticated and delivered under this Ordinance and that the Owner thereof is entitled to the benefits of this Ordinance. SECTION 2.4 NEGOTIABILITY. REGISTRATION AND CANCELLATION. The Registrar shall keep books for the registration of the 1999 Bond and for the registration of transfers of the 1999 Bond. The 1999 Bond shall be transferable at the option of the registered Owner thereof to an institutional holder, but subject to the prior written approval of the City's Finance Director (which shall not be unreasonably withheld if the intended transferee provides a suitability letter addressed to the City as to the sophistication of the investor) unless such institutional holder is a bank or trust company, or unless such institutional holder, which is not a bank or trust company, certifies in writing to the City prior to the transfer that it is an accredited inyestor within the meaning of Rule 501 of the Securities Act of 1933, as amended and supplemented, in which case such approval shall not be required, and upon surrender thereof at the 9