Laserfiche WebLink
<br /> year) ¡ and said tax shall be based on the latest approved tax <br /> rolls of the City, with full allowance being made for tax <br /> delinquencies and costs of tax collection. Said rate and amount <br /> of ad valorem tax is hereby levied and ordered to be levied <br /> against all taxable property in the City for the current year and <br /> for each year while any of the Bonds or interest thereon are <br /> outstanding and unpaid; and said tax shall be assessed and <br /> collected each such year and deposited to the credit of the <br /> aforesaid Interest and Sinking Fund. Said ad valorem taxes, <br /> sufficient to provide for the payment of the interest on and <br /> principal of the Bonds, as such interest comes due and such <br /> principal matures, are hereby pledged irrevocably for such <br /> payment, within the limit prescribed by law. <br /> Section 13. NOTICES TO HOLDERS ¡ WAIVER. (a) Wherever this <br /> Ordinance provides for notice to Holders of any event, such notice <br /> shall be sufficiently given (unless otherwise herein expressly <br /> provided) if in writing and sent by unites states mail, first <br /> class postage prepaid, to the address of each Holder entitled to <br /> receive such notice as it appears in the Registration Books. In <br /> an¥ case where notice to Holders is given by mail, neither the <br /> fa~lure to mail such notice to any particular Holder, nor any <br /> defect in any notice so mailed, shall affect the sufficiency of <br /> such notice with respect to all other Holders. <br /> (b) Where this Ordinance provides for notice in any <br /> manner, such notice may be waived in writing by the Holder <br /> entitled to receive such notice, either before or after the event <br /> with respect to which such notice is given, and such waiver shall <br /> be the equivalent of such notice. Waivers of notice by Holders <br /> shall be filed with the Paying Agent/Registrar, but such filing <br /> shall not be a condition precedent to the validity of any action <br /> taken in reliance upon such waiver. <br /> Section 14. CANCELLATION. All Bonds surrendered for <br /> payment, redemption, transfer, exchange, or replacement, if <br /> surrendered to the Paying Agent/Registrar, shall be promptly <br /> cancelled by the Paying Agent/Registrar and, if surrendered to the <br /> City, shall be delivered to the Paying Agent/Registrar and, if not <br /> already cancelled, shall be cancelled promptly by the Paying <br /> Agent/Registrar. The City at any time may deliver to the Paying <br /> Agent/Registrar for cancellation any Bonds previously certified or <br /> registered and delivered which the City may have acquired in any <br /> manner whatsoever, and all Bonds so delivered shall be cancelled <br /> promptly by the Paying Agent/ Registrar. All cancelled Bonds held <br /> by the Paying Agent/ Registrar shall be destroyed as directed by <br /> the City. <br /> Section 15. MUTILATED, DESTROYED, LOST AND STOLEN <br /> BONDS. If (i) any mutilated Bond is surrendered to the Paying <br /> Agent/Registrar, or the City and the Paying Agent/ Registrar <br /> receive evidence to their satisfaction of the destruction, loss, <br /> or theft of any Bond, and (ii) there is delivered to the City and <br /> the Paying Agent/Registrar such security or indemnity as may be <br /> -16- <br />