Ord 1983-079 - Laserfiche WebLink

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Section 21. MUTILATED, DESTROYED, LOST AND STOLEN CERTIFICATES. If (1) ~ny mutilated C~rtificate is surrendered to the Paying Ag7nt/Reglstrar~ or t~e CIty and the Paying Agent/Registrar receive evIdence to theIr satIsfaction of the destruction loss or theft of any Certificate, and (2) there is delivered to the'City ;nd 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 Payi~g Agent/Registrar th~t such Certificate has been acquired by a bona ~Ide purchas~r, 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, lost, or stolen Certificate, a new Certificate of the same Stated Maturity and of like tenor and pr incipal amount, bear ing 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. Section 22. SALE OF ~ CERT~FICATES. The sale of the Certificates to ~s ~~ N-a..W",o..( ßav.J~ '" ~ 1herein 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 $ -0 -- 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 Certificates 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 lO3(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 lO3(c) of such Code. The officers of the City charg~d 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, estimates or circumstances which would materially change the City's present e~pectations. The covenant herein made and the cer~ificati?ns 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 -13-