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AgdaPkt 2017-01-23 Closed and Joint
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AgdaPkt 2017-01-23 Closed and Joint
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Last modified
1/24/2017 10:22:46 AM
Creation date
1/19/2017 3:58:58 PM
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CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
1/23/2017
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<br />38 <br />Section 9.02. Unclaimed Moneys. Anything contained herein to the contrary <br />notwithstanding, any money held by the Trustee in trust for the payment and discharge of the <br />interest or principal of the Bonds which remains unclaimed for the lesser of the period ending <br />one day prior to the date such money would escheat to the State or two (2) years after the date <br />when the payments evidenced and represented by such Bonds have become payable, if such <br />money was held by the Trustee at such date, or for the lesser of the period ending one day prior <br />to the date such money would escheat to the State or two (2) years after the date of deposit of <br />such money if deposited with the Trustee after the date when the interest and principal <br />evidenced and represented by such Bonds have become payable, the Trustee shall pay such <br />amounts to the Authority as its absolute property free from trust, and the Trustee shall <br />thereupon be released and discharged with respect thereto and the Owners shall look only to <br />the Authority for interest and principal represented by such Bonds; provided, however, that <br />before being required to make any such payment to the Authority, the Trustee may, at the <br />expense of the Authority, cause to be published once a week for two (2) successive weeks in a <br />financial newspaper a notice that such money remains unclaimed and that after a date named in <br />such notice, which date shall not be less than thirty (30) days after the date of the first <br />publication of such notice, the balance of such money then unclaimed will be returned to the <br />Authority. <br /> <br /> <br />ARTICLE X <br /> <br />MISCELLANEOUS <br /> <br />Section 10.01. Benefits of Indenture Limited to Parties. Nothing contained herein, <br />expressed or implied, is intended to give to any person other than the Authority, the Trustee and <br />the Owners any claim, remedy or right under or pursuant hereto, and any agreement, condition, <br />covenant or term contained herein required to be observed or performed by or on behalf of the <br />Authority shall be for the sole and exclusive benefit of the Trustee and the Owners. <br /> <br />Section 10.02. Successor Deemed Included in all References to Predecessor. <br />Whenever either the Authority, the Trustee or any officer thereof is named or referred to herein, <br />such reference shall be deemed to include the successor to the powers, duties and functions <br />that are presently vested in the Authority, the Trustee or such officer, and all agreements, <br />conditions, covenants and terms required hereby to be observed or performed by or on behalf of <br />the Authority, the Trustee or any officer thereof shall bind and inure to the benefit of the <br />respective successors thereof whether so expressed or not. <br /> <br />Section 10.03. Execution of Documents by Owners. Any declaration, request or other <br />instrument which is permitted or required herein to be executed by Owners may be in one or <br />more instruments of similar tenor and may be executed by Owners in person or by their <br />attorneys appointed in writing. The fact and date of the execution by any Owner or his or her <br />attorney of any declaration, request or other instrument or of any writing appointing such <br />attorney may be proved by the certificate of any notary public or other officer authorized to take <br />acknowledgments of deeds to be recorded in the state or territory in which she purports to act, <br />that the person signing such declaration, request or other instrument or writing acknowledged to <br />him the execution thereof, or by an affidavit of a witness of such execution duly sworn to before <br />such notary public or other officer, or by such other proof as the Trustee or the paying agent, as <br />the case may be, may accept which it may deem sufficient. <br /> <br />8.C. - Page 149
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