5.2b ERMUSR 04-13-2021 - Laserfiche WebLink

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TEMPLATE RESOLUTION Registrar. Notice of redemption having been given as aforesaid, the Series2021BBonds or portions thereof so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified and from andafter such date (unless the City shall default in the payment of the redemption price) such Series 2021BBonds or portions thereof shall ceaseto bear interest. Series 2021BBonds in a denomination larger than $5,000 may be redeemed in part in anyintegral multiple of $5,000. The Holder of any Series 2021BBond redeemed in part shall receive, upon surrender of such Series 2021BBond to the Registrar, one or more new Series 2021BBonds of the same series in authorized denominations equal in principal amount to the unredeemed portion of the Series 2021BBond so surrendered. Section 8.Execution, Authentication and Delivery of Series 2021BBonds. The Series 2021BBonds shall be prepared under the direction of the Secretary and shall be executed on behalf of theCity bythe facsimile signatures of the Mayor and the Clerk and on behalf of the Commission by the facsimile signatures of the President and Secretaryof the Commission. In case any officer whose signature appears on the Series 2021BBonds shall cease tobe such officer before the delivery of any Series 2021BBond, 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 2021BBond shall be valid or obligatory for any purpose or entitled to any security or benefit under this Resolution unless a certificate of authentication onsuch Series 2021BBond has been executed by the manual signature of an authorized representative of the Registrar. Certificates of authentication on different Series 2021BBonds need not be signed by the same representative. The executed certificate of authentication on each Series 2021BBond shall be conclusive evidence that it has been authenticated and delivered under this resolution. When the Series 2021BBonds 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. Section 9.Electric Fund and Accounts. 9.01.Electric Fund. For theconvenient and proper administration of the Electric System, including the revenues thereof and proceedsof the Bonds, and to make adequate and specific security to the purchaser and Holders of the Bondsfrom time to time, the Commission agrees that thereshall continue to be maintained on the books and records of the City so long as any Bondsare Outstanding a separate bookkeeping account designated the Electric Fund. Within the Electric Fund there shall be maintained the separate accounts and subaccounts described in this section, or inlieu thereof there may be maintained the required balances as undesignated components of the Electric Fund. 9.02.Operating Account. There shall be credited to the Operating Account all Gross Revenues as received. There shallbe paid from the Operating Account when due all reasonable, necessary, and current Operating Expenses ofthe Electric System. All money on hand in the Operating Accountas of the first day of each month in excess of the sum of (i) Operating Expenses thendue and payable and to become dueand payable during such calendar month, plus 12 EL185-68-707442.v2 398