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COM 1109.000 2020-2022
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COM 1109.000 2020-2022
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Last modified
11/10/2022 11:36:40 AM
Creation date
11/9/2022 11:12:52 AM
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Communications
Communications - Type
COM
Communications - Council Term
2020-2022
Communication
1109
Point
000
Author
Deanna S. Sako, Director of Finance
Communications - Referred To
COUNCIL
Document Relationships
AGE COUNCIL 2022-11-16 2020-2022
(Related To)
Path:
\Council Records\Agendas\2020-2022\Council
RES 618 Draft 01 2020-2022
(Related To)
Path:
\Council Records\Resolutions\2020-2022
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guarantee of any bank or trust company located within the United States of America. Where any <br /> such instrument is executed by an officer of a corporation or association or a member of a partnership <br /> on behalf of such corporation, association or partnership, such signature guarantee shall also <br /> constitute sufficient proof of his authority. <br /> (b) As to any Bond, the Person in whose name the same shall be registered in the Bond <br /> Register shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of <br /> or on account of the principal of any such Bond, and the interest thereon, shall be made only to or <br /> upon the order of the registered Owner thereof or his or her legal representative. All such payments <br /> shall be valid and effectual to satisfy and discharge the liability upon such Bond and the interest <br /> thereon to the extent of the sum or sums to be paid. Neither the County nor the Trustee shall be <br /> affected by any notice to the contrary. <br /> Nothing contained in this Indenture shall be construed as limiting the Trustee or the County <br /> to such proof, it being intended that the Trustee or the County may accept any other evidence of the <br /> matters herein stated which the Trustee or the County may deem sufficient. Any request or consent <br /> of the Owner of any Bond shall bind every future Owner of the same Bond in respect of anything <br /> done or suffered to be done by the Trustee or the County in pursuance of such request or consent. <br /> Section 10.3. Unclaimed Moneys. Anything in this Indenture to the contrary <br /> notwithstanding, any money held by the Trustee in trust for the payment and discharge of any of the <br /> Outstanding Bonds which remain unclaimed for a period ending at the earlier of two Business Days <br /> prior to the date such funds would escheat to the State or two years after the date when such <br /> Outstanding Bonds have become due and payable, if such money was held by the Trustee at such <br /> date, or for a period ending at the earlier of two Business Days prior to the date such funds would <br /> escheat to the State or two years after the date of deposit of such money if deposited with the Trustee <br /> after the date when such Outstanding Bonds become due and payable, shall be repaid by the Trustee <br /> to the County, as its absolute property and free from trust, and the Trustee shall thereupon be released <br /> and discharged with respect thereto and the Owners shall look only to the County for the payment of <br /> such Outstanding Bonds; provided, however, that, before being required to make any such payment <br /> to the County, the Trustee at the written request of the County or the Trustee shall, at the expense of <br /> the County, cause to be mailed by first-class mail, postage prepaid, to the registered Owners of such <br /> Outstanding Bonds at their addresses as they appear on the registration books of the Trustee a notice <br /> that said money remains unclaimed and that, after a date named in said notice, which date shall not <br /> be less than 30 days after the date of the mailing of such notice, the balance of such money then <br /> unclaimed will be returned to the County. <br /> Section 10.4. Provisions Constitute Contract. The provisions of this Indenture shall <br /> constitute a contract between the County and the Bondowners and the provisions hereof shall be <br /> construed in accordance with the laws of the State. <br /> In any legal action arising out of this Indenture,the parties hereby consent to the jurisdiction <br /> of any federal or state court of competent jurisdiction within the State, and also consent to the service <br /> of process by any means authorized by State or federal law. <br /> In case any suit, action or proceeding to enforce any right or exercise any remedy shall be <br /> brought or taken and, should said suit, action or proceeding be abandoned, or be determined <br /> adversely to the Bondowners or the Trustee, then the County, the Trustee and the Bondowners shall <br /> 52 <br />
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