Agenda 07/12/2005 - Laserfiche WebLink

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Financing Agreement and the Note and Bond Purchase Agreement, and the Note shall mature on the Note Maturity Date. Commencing on January 15, 2006 and the 15th day of each July and January thereafter to the Note Maturity Date, interest only payments on the Note shall be due at the rate or rates set forth above. The principal balance or balances outstanding on the Note and unpaid interest accrued thereon at the rate or rates set forth above shall be due and payable in full on January 15, 2009. The Note is subject to redemption prior to maturity at the option of the Council at any time, in whole or in part, at a redemption price equal to 100% of the principal amount of the Note to be redeemed, plus interest accrued to the redemption date. The Note is hereby authorized to be issued under the City Charter and the Act. The Note shall bear interest from the date on which it is authenticated. Interest on the Note shall be computed on the basis of 30-day months and a 360-day year. Principal of, and interest on, the Note shall be payable in lawful money of the United States of America. Principal of and interest on the Note shall be payable by check or draft mailed to the registered owner thereof at its address. The Note shall be printed, lithographed or typewritten and shall be substantially in the form herein below set forth, with such appropriate variations, omissions and insertions as are permitted or required by this Ordinance, including such variations, insertions and omissions as shall be necessary to issue the Note under a system of book-entry for recording the ownership and transfer of ownership of rights to receive payments of principal of and interest on the Note and may have endorsed thereon such legends or text as may be necessary or appropriate to conform to any applicable rules and regulations of any governmental authority or any usage or requirement of law with respect thereto. If any principal of, or interest on, the Note is not paid when due (whether at maturity, by acceleration or call for redemption, or otherwise), then, to the extent permitted by law, the overdue installments of principal shall bear interest until paid at the same rate or rates as set forth in the Note. The Note shall be signed by the facsimile or manual signature of the Mayor. The facsimile of the City's seal shall be printed thereon or manually impressed thereon and attested by the facsimile or manual signature of the Clerk. In case any officer whose signature or facsimile of whose signature shall appear on the Note shall cease to be such officer before delivery of the Note, such signature or facsimile shall nevertheless be valid and sufficient for all purposes, the same as ifhe remained in office until such delivery. The Note may bear the facsimile signature of or may be signed by such persons as at the actual time of the execution thereof shall be the proper officers to sign the Note although on the date of delivery of the Note such persons may not have been such officers. The Note shall bear a certificate of authentication, in the form set forth below, duly executed by the Registrar. The Registrar shall authenticate the Note with the signature of an 5