Ordinance 2010-348 - Laserfiche WebLink

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(g) Each prepayment shall be made on such date and in such principal amount as shall be permitted under this Ordinance and specified by the City in a written notice delivered to the registered owner not less than ten (10) days prior thereto. If such prepayment shall be for only a portion of the unpaid principal balance of the 2010 Bond, such prepayment shall be applied against the obligation of the City to pay future amortization installments on the 2010 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 2010 Bond is to be paid, upon presentation and surrender of the 2010 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 ofthe unpaid balance of principal of the 2010 Bond is to be paid, upon presentation of such 2010 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 2010 Bond in the principal amount not redeemed. Notwithstanding the provisions of clause (ii) above, so long as the 2010 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 2010 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 2010 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 2010 Bond shall continue to bear interest until payment thereof. SECTION 2.3 EXECUTION OF THE 2010 BOND. The 2010 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 2010 Bond may be manual or facsimile signatures. In case anyone or more of the officers who shall have signed or sealed the 2010 Bond shall cease to be such officer of the City before the 2010 Bond so signed and sealed shall have been actually sold and delivered, such 2010 Bond may nevertheless be sold and delivered as herein provided and may be issued as if the person who signed or sealed such 2010 Bond had not ceased to hold such office. The 2010 Bond may be signed and sealed on behalf of the City by such person who at the actual time of the execution of the 2010 Bond shall hold the proper office, although at the date the 2010 Bond shall be actually delivered such person may not have held such office or may not have been so authorized. The 2010 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 2010 Bond shall bear thereon such certificate of authentication shall it be entitled to any right or benefit under this Ordinance and no 20 I 0 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 20 I 0 Bond executed on behalf of the City shall be conclusive evidence that the 20 10 Bond so Auth. the Issuance of a Storm water Utility Rev. Bond 10 Series 2010 $3,500,000 MIA 181,312,776v4 7-8-10