Ord 1984-033 - Laserfiche WebLink

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any Certificate, and (2) there is delivered to the City and the Paying Agent/Registrar such security or indemnity as may be required to save each of them harmless, then, in the absence of notice to the City or the Paying Agent/Registrar that such Certificate has been acquired by a bona fide purchaser, the City shall execute and, upon its request, the Paying Agent/Registrar shall register and deliver, in exchange for or in lieu of any such mutilated, destroyed, los t, or stolen Certificate, a new Certificate of the same Stated Maturity and of like tenor and principal amount, bear i ng a number not contemporaneously outstanding. In case any such mutilated, destroyed, lost, or stolen Certificate has become or is about to become due and payable, the City in its discretion, may, instead of issuing a new Certificate, pay such Certificate. Upon the issuance of any new Certificate under this Section, the City may require payment by the Holder of a sum sufficient to cover any tax or other governmental charge imposed in relation thereto and any other expenses (including the fees and expenses of the Paying Agent/Registrar) connected therewith. Every new Certificate issued pursuant to this Section in lieu of any mutilated, destroyed, lost, or stolen Certificate shall constitute a replacement of the prior obligation of the City, whether or not the mutilated, destroyed, lost, or stolen Certificate shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Ordinance equally and ratably with all other Outstanding Certificates. The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement and payment of mutilated, destroyed, lost, or stolen Certificates. of the (herein referred to as the "Purchasers") at the price of the par value thereof and accrued interest to the date of delivery plus a premium of is hereby approved and confirmed. Section 23. NO-ARBITRAGE CERTIFICATION. The City certifies that based on facts, estimates, and circumstances expected to exist on the date of the issue of the Certif icates it is not reasonable to anticipate that the proceeds thereof will be used in a manner which would cause them to be "arbitrage bonds" or obligations within the meaning of Section IO3(c) of the Internal Revenue Code of 1954, as amended, or regulations thereunder applicable thereto, and the City covenants not to make any use of the proceeds of the Certificates or investment income therefrom which would cause the Certificates to become "arbitrage bonds" or obligations within the meaning of Section IO3(c) of such Code. The officers of the City charged with responsibilities in the issuance of Certificates are authorized and directed to make, execute, and deliver certifications as to facts, estimates, and circumstances in existence as of the date of the issuance of said Certificates and stating whether there are any facts, es timates, or circumstances which would materially change the City's present expectations. The covenant herein made and the certifications herein authorized are for the benefit of the Holders from time to time of said Certificates and may be relied upon by said Holders and bond counsel for the City. Section 24. CONTROL AND CUSTODY OF CERTIFICATES. The Mayor of the City shall be and is hereby authorized to take and have charge of all necessary orders and records pending investigation by the Attorney General of the State of Texas, including the printing and supply of definitive Certificates, and shall take and have charge and control of the Initial Certificate pending its approval by the Attorney General, the registration thereof by the Comptroller of Public Accounts of the -15-