Res85 9885 - Laserfiche WebLink

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outstanding, in exchange and substitution for and upon cancellation of the mutilated or defaced Series A Bond, or in lieu of and in substitution for the Series A Bond so destroyed or lost. If any such destroyed or lost Series A Bond has become or is about to become due and payable, payment of the amount due thereon may, in the discretion of the City, be made by the Agent upon receipt of like proof, indemnity and payment of expenses without surrender of such Bond. Any such replacement Series A Bond issued pursuant to this section shall be entitled to equal and proportionate benefits with all other Series A Bonds issued hereunder. The City and the Agent shall not be required to treat both the original Bond and any replacement Bond as being outstanding, but both the original and replacement Bond shall be treated as one and the same. Section 24. Additional Bonds. The Council intends to issue one or more- additional divisions of Bonds not exceeding in aggregate principal amount the total amount of all unpaid assessments less the amount of all Bonds theretofore authorized and issued. The City may increase all or some of the assessments and issue additional bonds, secured by unpaid assessments, with the same priority as the Bonds, pursuant to appropriate change and modification proceedings taken for the purposes provided in the proceedings under and pursuant to the aforementioned Resolution of Intention No. 9795 of the Council. Section 25. Certified Copies. The City Clerk shall provide a certified copy of this Resolution to the Treasurer who shall take such action as shall be necessary to assure compliance by the City with the terms and conditions hereof. The City Clerk is further directed to provide a certified copy of this resolution to the County Controller. * * * * * -14-