ERMU RES 18-10 - Laserfiche WebLink

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2018A Bond certificates in accordance with this resolution and thep rovisions hereof shall apply to the transfer, exchange and method of payment thereof. 6.06. Payments to Cede & Co.Notwithstanding any other provision of this resolution to the contrary, so long as any Series 2018A Bond is registered in the name of Cede & Co., as nominee of DTC, all payments with respect to principal of, premium, if any, and interest on such Series 2018A Bond and all notices with respect to such Series 2018A Bond shall be made and given, respectively in the manner provided in the representation letter executed by the City and on file with DTC. Section 7. Notice of Redemption. At least 20 days before the date set for mandatory redemption of any Series 2018A Bond, the City shall cause notice of such redemption to be mailed to the registered Holder of each Series 2018A Bond to be redeemed, but no defect in or failure to give such mailed notice of redemption shall affect the validity of proceedings for the redemption of any Series 2018A Bond not affected by such defect or failure. The notice of redemption shall specify the redemption date, redemption price, the numbers, interest rates and CUSIP numbers of the Series 2018A Bonds to be redeemed and the place at which the Series 2018A Bonds are to be surrendered for payment, which shall be the principal office of the Registrar. Notice of redemption having been given as aforesaid, the Series 2018A Bonds or portions thereof so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified and from and after such date (unless the City shall default in the payment of the redemption price) such Series 2018A Bonds or portions thereof shall cease to bear interest. Series 2018A Bonds in a denomination larger than $5,000 may be redeemed in part in any integral multiple of$5,000. The Holder of any Series 2018A Bond redeemed in part shall receive, upon surrender of such Series 2018A Bond to the Registrar, one or more new Series 201 8A Bonds of the same series in authorized denominations equal in principal amount to the unredeemed portion of the Series 2018A Bond so surrendered. Section 8. Execution, Authentication and Delivery of Series 2018A Bonds. The Series 2018A Bonds shall be prepared under the direction of the Secretary and shall be executed on behalf of the City by the facsimile signatures of the Mayor and the Clerk and on behalf of the Cofnmission by the facsimile signatures of the President and Secretary of the Commission. In case any officer whose signature appears on the Series 2018A Bonds shall cease to be such officer before the delivery of any Series 2018A Bond, such signature shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. Notwithstanding such execution, no Series 2018A Bond shall be valid or obligatory for any purpose or entitled to any security or benefit under this Resolution unless a certificate of authentication on such Series 2018A Bond has been executed by the manual signature of an authorized representative of the Registrar. Certificates of authentication on different Series 2018A Bonds need not be signed by the same representative. The executed certificate of authentication on each Series 2018A Bond shall be conclusive evidence that it has been authenticated and delivered under this resolution. When the Series 2018A Bonds have been so executed and authenticated, they shall be delivered to the original purchaser thereof upon payment of the purchase price in accordance with the contract of sale heretofore made and executed, and the purchaser shall not be obligated to see to the application of the purchase price. 12 531773v2 JSB EL185-55