Agenda 03/23/1999 - Laserfiche WebLink

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I portion of the principal amount of any Note being counted as one Note for this purpose. If a portion of a Note having a principal amount of more than $5,000 shall be called for redemption, then a new Note in principal amount equal to the unredeemed portion thereof shall be issued to the registered Holder upon surrender thereof. Notice of redemption shall be sent by registered or certified mail by the Registrar to the registered Holder of each Note to be redeemed at his address as it appears on the registration books not less than fifteen (15) nor more than thirty (30) days prior to the redemption date, provided that failure to give such notice, or any defect therein, shall not affect the validity of any proceedings for the redemption of any Notes with respect to which no such failure has occurred. THIS NOTE, AND THE ISSUE OF WHICH IT IS A PART, IS A GENERAL OBLIGATION OF THE CITY FOR THE PAYMENT OF WHICH THE CITY'S FULL FAITH AND CREDIT ARE IRREVOCABLY PLEDGED. THE COUNCIL IS AUTHORIZED AND REQUIRED TO LEVY AND COLLECT ANNUALLY AT THE SAME TIME AND IN THE SAME MANNER AS OTHER TAXES OF THE CITY ARE ASSESSED, LEVIED AND COLLECTED, A TAX UPON ALL TAXABLE PROPERTY WITHIN THE CITY, OVER AND ABOVE ALL OTHER TAXES AUTHORIZED OR LIMITED BY LA'~V AND WITHOUT LIMITATION AS TO RATE OR AMOUNT, SUFFICIENT TO PAY WHEN DUE THE PRINCIPAL OF AND PREMIUM, IF ANY, AND INTEREST ON THE NOTE, TO THE EXTENT OTHER FUNDS OF THE CITY ARE NOT LAWFULLY AVAILABLE AND APPROPRIATED FOR SUCH PURPOSE. Reference is hereby made to the Ordinance and to all of the provisions thereof to which any Holder of this Note, by his acceptance hereof hereby assents, for definitions of terms; the description of and nature and extent of the security for the Note; the conditions upon which the Ordinance may be amended or supplemented without the consent of the holder of this Note and upon which it may be amended only with the consent of the holder of the Note affected thereby; the rights and remedies of the holder hereof with respect hereto; the rights, duties and obligations of the City; the provisions discharging the Ordinance as to this Note and for the other terms and provisions of the Ordinance. This Note shall not be valid or obligatory for any purpose unless the certificate of authentication hereon has been duly executed by the Registrar and the date of authentication inserted hereon. 10