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2011.10.03 RESO 2011-31
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2011.10.03 RESO 2011-31
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City Council
Document Type
Resolutions
Meeting Date
10/3/2011
Meeting Type
Regular
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Year <br />Amount <br />Year <br />Amount <br />2013 <br />$110,000 <br />2019 <br />$110,000 <br />2014 <br />110,000 <br />2020 <br />110,000 <br />2015 <br />110,000 <br />2021 <br />110,000 <br />2016 <br />110,000 <br />2022 <br />115,000 <br />2017 <br />110,000 <br />2024 <br />85,000 <br />2018 <br />110,000 <br />2027 <br />135,000 <br />As may be requested by the Purchaser, one or more term Bonds may be issued having <br />mandatory sinking fund redemption and final maturity amounts conforming to the foregoing <br />principal repayment schedule, and corresponding additions may be made to the provisions of the <br />applicable Bond(s). <br />(b) Book Entry System. The Depository Trust Company, a limited purpose <br />trust company organized under the laws of the State of New York or any of its successors or its <br />successors to its functions hereunder (the "Depository") will act as securities depository for the <br />Bonds, and to this end: <br />(i) The Bonds shall be initially issued and, so long as they remain in book <br />entry form only (the "Book Entry Only Period"), shall at all times be in the form of a <br />separate single fully registered Bond for each maturity of the Bonds; and for purposes of <br />complying with this requirement under paragraphs 5 and 10 Authorized Denominations <br />for any Bond shall be deemed to be limited during the Book Entry Only Period to the <br />outstanding principal amount of that Bond. <br />(ii) Upon initial issuance, ownership of the Bonds shall be registered in a bond <br />register maintained by the Bond Registrar (as hereinafter defined) in the name of CEDE <br />& CO., as the nominee (it or any nominee of the existing or a successor Depository, the <br />"Nominee"). <br />(iii) With respect to the Bonds neither the City nor the Bond Registrar shall <br />have any responsibility or obligation to any broker, dealer, bank, or any other financial <br />institution for which the Depository holds Bonds as securities depository (the <br />"Participant") or the person for which a Participant holds an interest in the Bonds shown <br />on the books and records of the Participant (the 'Beneficial Owner"). Without limiting <br />the immediately preceding sentence, neither the City, nor the Bond Registrar, shall have <br />any such responsibility or obligation with respect to (A) the accuracy of the records of the <br />Depository, the Nominee or any Participant with respect to any ownership interest in the <br />Bonds, or (B) the delivery to any Participant, any Owner or any other person, other than <br />the Depository, of any notice with respect to the Bonds, including any notice of <br />redemption, or (C) the payment to any Participant, any.Beneficial Owner or any other <br />person, other than the Depository, of any amount with respect to the- principal of or <br />premium, if any, or interest on the Bonds, or'(D) the consent.given or other action taken <br />by the Depository.:as the Registered Holder of -any Bonds (the "Holder"). Forpurposes of <br />securing the vote or consent of.anyHolder .under this Resolution, the City may, however, <br />rely upon an omnibus. proxyunder which the Depository assigns its consenting or voting <br />3 <br />4232454v1 <br />
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