Ord 1986-125 - Laserfiche WebLink

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Section 8. EXECUTION; FULLY REGISTERED FORM; DENOMINATIONS. (a) Execution. The Bonds shall be executed on behalf of the City by the Mayor of the City and countersigned by the City Secretary of the City. The signature of either or both of said officers on the Bonds may be manual or facsimile. The seal of the City may be printed, lithographed or impressed on each Bond. Bonds bearing the manual or facsimile signatures of individuals who at the time were the proper officers of the City shaH be deemed to be duly executed on behalf of the City notwithstanding that such individuals, or either of them, shaH cease to hold such offices prior to the certification or registration and delivery of such Bonds or shall not have held such offices at the date of such Bonds, all as provided and authorized in the Bond Procedures Act of 1981 (Article 717k-6, V.T.C.S.), as amended. (b) Fu11y Registered Form. The Bonds are issuable in fu11y registered form only, both principal thereof and interest thereon to be payable only to the registered owner thereof. No Bond sha11 be entitled to right or benefit under this Ordinance, or be valid or obligatory for any purpose, unless there appears on such Bond either a certificate of registration substantia11y in the form provided by this Ordinance, executed by the Comptroller of Public Accounts of the State of Texas or his duly authorized agent by manual signature, or a certificate of registration substantially in the form provided in this Ordinance, executed by the Paying Agent/Registrar by manual signature, and either such certificate upon any Bond shall be conclusive evidence and the only evidence, that such Bond has been duly certified or registered and delivered. (c) Denominations. The Bonds shall be in the denominations of $5,000 or any integral multiple thereof. Section 9. INITIAL BOND. The Bonds herein authorized shall be issued initia11y as a single fully registered Bond (the "Initial Bondlt) representing the entire principal amount of the Bonds and in the name of the initial purchaser or purchasers of the Bonds, or his or their designee. The Initial Bond shall be the Bonds submitted to the Attorney General of Texas for examination and and certified and registered by the Comptrol1er of Public Accounts of the State of Texas. At any time after delivery of the Initial Bond to the initial purchaser or purchasers, or designee, the Paying Agent/Registrar, upon the written instructions of the purchaser or purchasers, or designee, sha11 cancel the Initial Bond delivered hereunder and exchange therefor Bonds of authorized denominations Stated Maturities, principal amounts and bearing applicable interest rates, for transfer and delivery to the Holders named, and at the addresses stated therefor, all in accordance with and pursuant to such written instructions from the initial purchaser or purchasers, or designee, and such other information and documentation as the Paying Agent/Registrar may reasonably require. Section 10. FORMS. (a) In General. The Bonds, the Registration Certificate of the Comptroller of Public Accounts of the State of Texas, the Certificate of Registration of the Paying Agent/Registrar, and the form of Assignment to be printed on the Bonds, shall be substantially in the forms set forth in this Section, 1O37f -7-