5.3. SR 02-06-2006 - Laserfiche WebLink

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In addition to the notice prescribed by the preceding paragraph, the City shall also give notice of the redemption of any Series 2006A Bond or Series 2006A Bonds or portions thereof at least thirty days before the redemption date by certified mail or telecopy to the original purchaser of the Series 2006A Bonds and to all registered securities depositories then in the business of holding substantial amounts of obligations of the character of the Series 2006A Bonds (such depositories now being The Depository Trust Company, of Garden City, New York; Pacific Securities Depository Trust Company, of San Francisco, California; and Philadelphia Depository Trust Company, of Philadelphia, Pennsylvania) and one or more national information services that disseminate information regarding municipal bond redemptions; provided that any defect in or any failure to give any notice of redemption prescribed by this paragraph shall not affect the validity of the proceedings for the redemption of any Series 2006A Bond or portion thereof. Series 2006A 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 2006A Bond redeemed in part shall receive, upon surrender of such Series 2006A Bond to the Registrar, one or more new Series 2006A Bonds of the same series in authorized denominations equal in principal amount to the unredeemed portion of the Series 2006A Bond so surrendered. Section 8. Execution, Authentication and Delivery of Series 2006A Bonds. The Series 2006A 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 Commission by the facsimile signatures of the President and Secretary of the Commission. In case any officer whose signature appears on the Series 2006A Bonds shall cease to be such officer before the delivery of any Series 2006A 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 2006A 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 2006A Bond has been executed by the manual signature of an authorized representative of the Registrar. Certificates of authentication on different Series 2006A Bonds need not be signed by the same representative. The executed certificate of authentication on each Series 2006A Bond shall be conclusive evidence that it has been authenticated and delivered under this resolution. When the Series 2006A 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. Section 9. Electric Fund and Accounts. 9.01. Electric Fund. For the convenient and proper administration of the Electric System, including the revenues thereof and proceeds of the Bonds, and to make adequate and specific security to the purchaser and Holders of the Bonds from time to time, the Commission agrees that there shall continue to be maintained on the books and records of the City so long as any Bonds are 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 in lieu thereof there may be maintained the required balances as undesignated components of the Electric Fund. 1861915vl 19