Res65 4811 - Laserfiche WebLink

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All transfers, registrations and discharges from registration shall otherwise be without expense to the holder, except that any taxes or other governmental charges required to be paid with respect to the same shall be paid by the bondholder requesting the transfer, registration or discharge from registration as a condition precedent to the exercise of such privilege. All transfers, registrations and dis- oharges from registration shall be made under such reasonable regulations as the Treasurer may prescribe. Section 7. For the purpose of paying the principal of and interest on the bonds, the Council shall, at the time of making the general tax levy after incurring the bonded indebted- ness, and annually thereafter until the bonds are paid or until there is a sum in the treasury set apart for that purpose sufficient to meet all payments of principal and interest on the bonds as they become due, levy and collect a tax on all taxable property (including real property and personal prop - erty) in the District subject to taxation by the City for District purposes sufficient to pay the interest on the bonds and such part of the principal as will become due before the proceeds of a tax levied at the next general tax levy will be available. Such taxes shall be levied and collected as other City taxes and shall be in addition to all other taxes and shall be used only for payment of the bonds and interest thereon. Said taxes as collected shall be forthwith paid into the fund for which the same were levied and collected and which shall be designated "Redwood City General Improvement District No. 3 -65 1966 Sewer Bond Principal and Interest Fund " and all sums to become due for the principal of and interest on said bonds shall be paid from such fund. There shall likewise be deposited in said fund any moneys received on account of any premium paid on the bonds and interest accrued on the bonds from their date 12