2011-092 Council Resolution - Laserfiche WebLink

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• • • exchange and substitution for and upon cancellation of any such mutilated Amended Note or in lieu of and in substitution for any such Amended Note des y , lost, upon the payment of the reasonable expenses and charges of gis rar connection therewith; and, in the case of a Amended Note destroyed, stolen or Lost, upon filing with the Registrar of evidence satisfactory to it that such Amended Note was destroyed, stolen or lost, and of the ownership thereof, and upon furnishing to the Registrar an appropriate Amended Note or indemnity in form, substance and amount satisfactory to it, in which both the City and the Registrar will be named as obligees. The Amended Note so surrendered to the Registrar will be cancelled by it and evidence of such cancellation will be given to the City. If the mutilated, destroyed, stolen or lost Amended Note has already matured or been called for redemption in accordance with its terms it will not be necessary to issue a new Amended Note prior to payment. (i) Redemption. In the event the Amended Note is called for redemption, notice thereof identifying the Amended Notes to be redeemed will be given by the Registrar by mailing a copy of the redemption notice by first class mail (postage prepaid) not more than 60 and not less than 30 days prior to the date fixed for redemption] to the registered owner of the Amended Note to be redeemed at the address shown on the registration books kept by the Registrar and by publishing the notice if required by law. Failure to give notice by publication or by mail to any registered owner, or any defect therein, will not affect the validity of the proceedings for the redemption of Amended Note. The Amended Note so called for redemption will cease to bear interest after the specified redemption date, provided that the funds for the redemption are on deposit with the place of payment at that time. 3.04. Execution and Delivery. The Amended Note will be prepared under the direction of the City Administrator and will be executed on behalf of the City by the signatures of the Mayor and the City Administrator. In case any officer whose signature or a facsimile of whose signature appears on the Amended Note will cease to be such officer before the delivery of the Amended Note, such signature will nevertheless be valid and sufficient for all purposes, the same as if the officer had remained in office until delivery. When the Amended Note has been so prepared and executed the City Administrator will deliver the same to the County, upon delivery by the County of the original Note for cancellation. Section 4. Payment: Security. 4.01. Debt Service Fund; Pledges. The Amended Note will be payable from the General Obligation Improvement Amended Note of 2009 Debt Service Fund (the "Debt Service Fund ") hereby created, and the proceeds of special assessments (the "Assessments ") levied or to be levied for the Project described in Section 1.01 are hereby pledged to the Debt Service Fund. There is also appropriated to the Debt Service Fund, from outside finding sources other than the City general fund (within the meaning of Section 8.04, subdivision 2 of the City Charter), capitalized interest in the amount of $30,988.31 representing the amount necessary to pay the Note interest payments due on February 1, 2012. For the prompt and full payment of the principal, interest and County fee on the Amended Note, as the same respectively become due, the full faith, credit and taxing powers of the City shall be and are hereby irrevocably pledged. If 383077v3 SJB LN140 -103 5