Ord 2012-014 - Laserfiche WebLink

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mutilated Bond) instead of issuing a replacement Bond, provided ndemnity is furnished as above provided in this Section. (d) Charge for Issuing Replacement Bonds. Prior to the issuancent Bond, the Paying Agent/Registrar shall charge the Registered Owner of Bond with all legal, printing, and other expenses in connection therewith. Every replacement Bued pursuant to the provisions of this Section by virtue of the fact that any Bond is lost, stolen, or destroyed shall constitute a contractual obligation of the City whether or not the lost, stolen, or destroyed Bond shall be found at any time, or be enforceable by anyone, and shall be ntitled to all the benefits of this Ordinance equally and proportionately with any and all other Bon duly issued under this Ordinance. (e) Authority for Issuing Replacement Bonds. In accordance witer D of Texas Government Code, Chapter 1201, this Section of this Ordinance shtitute authority for the issuance of any such replacement Bond without necessity of further action by the governing body of the City or any other body or person, and the duty of the replacement of such Bonds is hereby authorized and imposed upon the Paying Agent/Registrar, and the Paying Agent/Registrar shall authenticate and deliver such Bonds in the form and manner and with the effect, as provided in Section 6(a) of this Ordinance for Bonds issued in conversion anhange for other Bonds. Section 11. CUSTODY, APPROVAL, AND REGISTRATION OF BOND; BOND . The Mayor of the City and the City Manager are hereby authorized to COUNSEL'S OPINION have control of the initial Bonds issued and delivered hereundercessary records and proceedings pertaining to the Bond pending its delivery and theigation, examination, and approval by the Attorney General of the State of Texas, and their registration by the Comptroller of Public Accounts of the State of Texas. Upon registration of theond the Comptroller of Public Accounts (or a deputy designated in writing to act for the Comptller) shall manually sign the Comptroller's Registration Certificate attached to such Bond, and the seal of the Comptroller shall be impressed, or placed in facsimile, on such Certificate. The proving legal opinion of the City's Bond Counsel may, at the option of the City, be printed on the Bd issued and delivered under this Ordinance, but it shall have no legal effect, and shall be solely for the convenience and information of the Registered Owner of the Bonds. Section 12.COVENANTS REGARDING TAX EXEMPTION OF INTEREST ON . (a) Covenants. The City covenants to take any action necessary to assure, or refrain THE BOND from any action which would adversely affect, the treatment of the Bonds as obligations described in section 103 of the Internal Revenue Code of 1986, as amended e "Code"), the interest on which is not includable in the "gross income" of the holder for purposes of federal income taxation. In furtherance thereof, the City covenants as follows: (1) to use all of the proceeds of the Bonds for the payment of principal, interest and redemption premium on the Refunded Obligations. (2) to take any action to assure that no more than 10 percent ooceeds of the Bonds or the Refunded Obligations or the projects financed or refinanced therewith (less 21 San Marcos GORB 2012 - Delegated: Ordinance