Ordinance 2010-348 - Laserfiche WebLink

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shall execute and the Registrar shall authenticate and deliver a new 2010 Bond of like date, maturity and denomination as the 2010 Bond so mutilated, destroyed, stolen or lost; provided that, in the case of any mutilated 2010 Bond, such mutilated 2010 Bond shall first be surrendered to the City and, in the case of any lost, stolen or destroyed 2010 Bond, there shall first be furnished to the City and the Registrar (if not the City's Finance Department) evidence of such loss, theft, or destruction satisfactory to the City and the Registrar, together with indemnity satisfactory to them. In the event the 2010 Bond shall be about to mature or have matured, instead of issuing a duplicate 2010 Bond, the City may pay the same without surrender thereof. The City and the Registrar (if not the City's Finance Department) may charge the Owner of such 2010 Bond their reasonable fees and expenses in connection with this transaction. Any 2010 Bond surrendered for replacement shall be canceled in the same manner as provided in Section 2.4 hereof. Any such duplicate 2010 Bond issued pursuant to this Section shall constitute additional contractual obligations on the part of the City, whether or not the lost, stolen or destroyed 2010 Bond be at any time found by anyone, and such duplicate 2010 Bond shall be entitled to equal proportionate benefits and rights as to lien on the source and security for payment from Pledged Revenues with the 2010 Bond issued hereunder. SECTION 2.6 CONDITIONS FOR ISSUANCE OF THE 2010 BOND. Prior to the issuance of the 2010 Bond, the City shall comply with the following conditions: (a) Delivery to the Bank of a fully executed Tax Certificate; and (b) Delivery to the Bank of a copy of a completed and executed Form 8038-G to be filed by the City with the Internal Revenue Service; and (c) Delivery by the City's bond counsel to the Bank of an opinion of Bond Counsel, regarding the due authorization, execution, delivery, validity and enforceability of the 2010 Bond and the pledge of the Pledged Revenues therefor, the due enactment of this Ordinance (enforceability of such instruments may be subject to standard bankruptcy exceptions and the like), and the exclusion of interest on the 2010 Bond from gross income for federal income tax purposes. Such opinion shall also state that the 2010 Bond is a "qualified tax-exempt obligation" within the meaning of Section 265(b)(3) of the Code; and (d) Delivery to the Bank of an opinion of the City Attorney, satisfactory to the Bank and its counsel, regarding, as the case may be, the due authorization, execution, delivery, validity and enforceability of the 2010 Bond and the pledge of the Pledged Revenues therefor, and the due enactment of this Ordinance (enforceability may be subject to standard bankruptcy exceptions and the like); and (e) Delivery to the Bank of a general certificate of the City in form satisfactory to the Bank and its counsel certifying, among other things, that the City is in compliance with the terms of the Ordinance. Auth. the Issuance of a Storm water Utility Rev. Bond 12 Series 2010 $3,500,000 MIA 181,312,776v4 7-8-10