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Ord86 1928
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Ord86 1928
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Last modified
10/11/2019 3:13:05 PM
Creation date
10/11/2019 3:12:59 PM
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Template:
CC Index
CC Index - Document Type
Ordinance
Date
3/17/1986
Description
1928 MAR 1 '7 1986 AN ORDINANCE ESTABLISHING THE REDWOOD CITY PUBLIC FACILITIES AND INFRASTRUCTURE AUTHORITY, PROVIDING FOR ITS GENERAL AND SPECIAL POWERS, INCLUDING THE POWER TO INCUR INDEBTEDNESS, AND SPECIFYING CERTAIN RIGHTS OF OBLIGEES OF THE AUTHORITY
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<br /> DES:djc 2/28/86 <br /> Section 4.05. Additional Sources of Payment. Nothing in <br />this ordinance nor in the specifications, in the proceedings for <br />the issuance of any bonds, of the sources of payment thereof, <br />shall preclude any of the following: <br /> (a) The payment of interest on or principal of any <br /> such bonds out of sums received as premiums or accrued <br /> interest on the sale thereof. <br /> (b) The payment of principal of or interest on, or <br /> premiums on the redemption of, any such bonds out of the <br /> proceeds of the sale of refunding bonds issued for that <br /> purpose. <br /> (c) The payment of any interest on any such bonds <br /> accruing during, and for not to exceed two years after, the <br /> period of the construction of a project on account of which <br /> they were issued, or for any other reasonably limited <br /> period, out of the proceeds of the sale of such bonds. <br /> (d) The payment of any principal of, interest on, or <br /> premiums on the redemption of, any such bonds by the <br /> purchasers thereof, or by any entity other than the <br /> authority issuing the same in any case where such purchasers <br /> or entity may have guaranteed such payment. <br /> (e) The application to the payment of any principal <br /> of, interest on, or premiums on the redemption of, any such <br /> bonds of any funds which the Authority may lawfully so <br /> apply. <br /> 12 <br /> ._....... <br />
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