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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 4.27. Trustee; Handling of Funds. The Authority <br />may fix and determine the conditions upon which any trustee <br />shall, receive, hold, or disburse any or all funds coming into <br />its hands pursuant to any resolution, contract, or agreement. <br /> Section 4.28. Trustee, Duties and Powers. The Authority <br />may prescribe the duties and powers of any trustee respecting the <br />payment of principal and interest on bonds, the redemption of <br />bonds, the registration and discharge from registration of bonds, <br />and the management of any sinking or other fund provided as <br />security for bonds, and with respect to any other appropriate <br />matter. <br /> Section 4.29. Series, Division, Maturities, Interest Rates; <br />Issuance of Other Bonds. The Authority may provide for the <br />issuance of bonds in series, and for the division of any issue <br />into two or more divisions, and may fix different maturities or <br />dates of such bonds, different rates of interest, or prescribe <br />different terms and conditions for the bonds of the several <br />series or divisions. After having authorized or issued bonds, <br />the Authority may from time to time thereafter authorize and <br />issue other bonds, subject to any covenants it may have made <br />restricting the future issuance of bonds. <br /> Section 4.30. Variance in Bonds of Same Issuance. All <br />bonds of the same authorized issue need not be the same kind or <br />character, have the same security, or bear the same interest <br />rate, but the terms of the bonds shall in each case be prescribed <br />by the Authority. <br /> 20 <br /> ._~~- <br />
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