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2013-71 PROVIDING FOR THE ISSUANCE OF A PROMISSORY NOTE, SERIES 2013
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2013-71 PROVIDING FOR THE ISSUANCE OF A PROMISSORY NOTE, SERIES 2013
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Last modified
2/27/2017 9:07:47 AM
Creation date
8/6/2015 2:08:44 PM
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Resolution/Ordinance
Res Ord Num
2013-71
Res Ord Title
PROVIDING FOR THE ISSUANCE OF A NOT TO EXCEED $17,250,000 PROMISSORY NOTE TO PAY THE COSTS OF CERTAIN IMPROVEMENTS TO THE WATERWORKS SYSTEM
Department
Finance
Approved Date
8/5/2013
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3&5360-day year of twelve 30-day months) payable in quarterly installments f principal and/or <br /> interest beginning on November 15, 2013, and on each February 15, May 15, August 15 and <br /> November 15 thereafter until said final payment date, all in accordance witt the Amortization <br /> Schedule attached to the Note. <br /> The payments of interest and principal on the Note shall be paid by c eck or draft of the <br /> Paying Agent, payable upon presentation thereof in lawful money of the United States of <br /> America or(for all payments other than the final payment) by electronic funds transfer as may be <br /> agreed by the Finance Officer, Note Registrar, Paying Agent and registered owner, to the <br /> registered owner at the close of business on the applicable Record Date. In_the event that <br /> payment on_the Note is_past due on three or more occasions,the City shall a- e that payment on <br /> the Note_. shall_.be-made_ through automatic funds- withdrawal} _and the__ -ity__shall execute <br /> documentations satisfactory to the Purchaser to facilitate the same. The appl cable Record Date <br /> is the 1 st day of the month of any payment date. <br /> Section S. Execution;Authentication. The Note shall be executed o behalf of the City <br /> by the manual or facsimile signature of the Mayor, and attested by the manual or facsimile <br /> signature of the City Clerk, as they may determine, and shall have im r ssed or imprinted <br /> thereon the corporate seal or facsimile thereof of the City. In case any such officer whose <br /> signature shall appear on the Note shall cease to be such officer before the delivery of the Note, <br /> such signature shall nevertheless be valid and sufficient for all purposes, t e same as if such <br /> officer had remained in office until delivery. The Note shall have ther on a certificate of <br /> authentication, substantially in the form hereinafter set forth, duly executed by the Note Registrar <br /> as authenticating agent of the City and showing the date of authentication. The Note shall not be <br /> valid-or-obligatory for any purpose-or be entitle-to--any security or benefit u der this Ordinance <br /> unless and until the certificate of authentication shall have been duly executed by the Note <br /> Registrar by manual signature, and such certificate of authentication upon the Note shall be <br /> -6- <br />
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