Res65 4810 - Laserfiche WebLink

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f t • • by the Treasurer, and all proceeds of the sale of the bonds, after deducting any sums required to be deposited in the fund provided for in Section 7 hereof, shall be placed by the Treas- urer to the credit of said fund and shall be kept separate and distinct from all other District funds and be applied solely to the purpose and object specified in the measure set forth in Section 2 of this resolution; provided, however, that when said purpose and object have been accomplished, any moneys remaining in said fund shall be transferred to the Redwood City General Improvement District No. 2 -65 1966 Water Bond Principal and Interest Fund (provided for in Section 7 hereof) and be used for the payment of principal of and interest on the bonds; and provided, further, that when such purpose and object have been accomplished and all principal and interest on the bonds have been paid, any balance then remaining shall be transferred to the general fund of the District. Section 9. The Clerk is directed to cause a suffi- cient number of blank bonds and coupons of suitable quality to be printed and to cause the blank spaces thereof to be filled in to comply with the provisions hereof, and to procure their execution by the proper officers, and to deliver them, when so executed, to the Treasurer who shall safely keep the same until they shall be sold by the Council, whereupon he shall deliver them to the purchaser or purchasers thereof, on receipt of the purchase price. The Mayor, Treasurer and Clerk are further authorized and directed to make, execute and deliver to the purchaser of the bonds a signature and no- litigation certificate in the form customarily required by purchasers of municipal bonds, certifying to the genuineness and due execution of the bonds and further certifying to all facts within their knowledge relative to any litigation which may or might affect the City, said officers or the bonds, and 13