Res85 9885 - Laserfiche WebLink

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Section 7. Execution of Series A Bonds. The Series A Bonds shall be executed on behalf of the City by the engraved, printed or lithographed facsimile signatures of the Treasurer and City Clerk and a facsimile of the corporate seal of the City shall be affixed to said Bonds in like manner, provided that the signatures of said officers and the seal of the City on any temporary Series A Bond may be manually affixed thereto. Only Series A Bonds authenticated and registered by the endorsement thereon of a certificate substantially in the form set forth in Exhibit "C" hereof and executed by an authorized officer of the Agent shall be valid and become obligatory for any purpose under and be entitled to the benefits of this Resolution, and every such certificate of the Agent upon any such Bond shall be conclusive evidence that the Bond so authenticated and registered has been duly issued hereunder and that the registered holder is entitled to the benefits of this Resolution. If any officer whose signature appears on the Series A Bonds ceases to be such officer before the delivery of said Bonds, such signature shall be as valid as if such officer had remained in office until the delivery of the Series A Bonds. Section 8. preparation of Series A Bonds. The Treasurer is hereby directed to cause bonds of quality usually required by purchasers of municipal bonds to be prepared in accordance with this Resolution and the contract for the purchase of the Series A Bonds, and upon their completion to deliver same to the Agent for safekeeping until ready for authentication and delivery to the purchaser thereof. The Treasurer shall also cause a suitable quantity of blank Series A Bonds to be prepared which the Agent shall hold in safekeeping until needed to effect transfers and exchanges. Until definitive Series A Bonds shall be prepared, the City may cause to be executed and delivered in lieu of such definitive Bonds and subject to the same provisions, limitations and conditions as are applicable in the case of definitive Series A Bonds (except that they may be in any denominations authorized by the Treasurer) one or more typed, printed, lithographed or engraved temporary Series A Bonds in fully registered form, as may be authorized by the Treasurer, substantially of the same tenor, with such insertions, omissions, substitutions and other variations as the Treasurer may deem appropriate, and, until exchanged for definitive Series A Bonds, entitled and subject to the same benefits and provisions of this Resolution as definitive Series A Bonds. If the City issues one or more temporary Series A Bonds it will execute and furnish definitive Series A Bonds without unnecessary delay and thereupon the temporary Series A Bonds shall be surrendered in exchange for such definitive Bonds, without expense to the Bondholder. All temporary Series A Bonds so surrendered shall be canceled and shall not be reissued. -3-