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2001-08 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION LINE OF CREDIT NOTES
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2001-08 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION LINE OF CREDIT NOTES
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3/2/2016 3:12:44 PM
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Resolution/Ordinance
Res Ord Num
2001-08
Res Ord Title
PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $10,000,000 GENERAL OBLIGATION LINE OF CREDIT NOTES TO PAY THE COSTS OF REDEVELOPMENT PROJECTS AND PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID NOTES
Approved Date
3/5/2001
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t <br /> City Clerk, as they may determine, and shall have impressed or imprinted thereon the corporate <br /> seal or facsimile thereof of the City. In case any such officer whose signature shall appear on <br /> any Note shall cease to be such officer before the delivery of such Note, such signature shall <br /> nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in <br /> office until delivery. All Notes shall have thereon a certificate of authentication, substantially in <br /> the form hereinafter set forth, duly executed by the Note Registrar as authenticating agent of the <br /> City and showing the date of authentication. No Note shall be valid or obligatory for any <br /> purpose or be entitled to any security or benefit under this Ordinance unless and until such <br /> certificate of authentication shall have been duly executed by the Note Registrar by manual <br /> signature, and such certificate of authentication upon any such Note shall be conclusive evidence <br /> that such Note has been authenticated and delivered under this Ordinance. The certificate of <br /> authentication on any Note shall be deemed to have been executed by it if signed by an <br /> authorized officer of the Note Registrar, but it shall not be necessary that the same officer sign <br /> the certificate of authentication on all of the Notes issued hereunder. <br /> Section 6. Optional Redemption. The Notes shall be subject to redemption at the <br /> option of the City, from any available funds, in whole or in part on any date or on such periodic <br /> dates, as set forth in the Note Order, and if less than all of the Notes, in the amount of$50,000 <br /> and integral multiples of$5,000 in excess thereof, selected by the City as hereinafter provided, at <br /> the redemption price of par plus accrued interest to the date fixed far redemption. <br /> Section 7. Redemption Procedure. The City shall, at least 5 days prior to the <br /> redemption date (unless a shorter time period shall be satisfactory to the Bank), notify the Bank <br /> in writing of such redemption date and of the principal amount of Notes to be redeemed. For <br /> purposes of any redemption of less than all of the Notes,the particular Notes or portions of Notes <br /> to be redeemed shall be selected by the City. <br /> -7- <br />
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