BIL 025 Draft 02 2016-2018 - Laserfiche WebLink

Home

designation of such series of Bonds; the date of such series of Bonds; the interest payment dates and maturity dates of such series of Bonds; the amount of principal of such series of Bonds maturing on each maturity date;the registration privileges and place or places at which such series of Bonds may be paid or registered which may include the office of the Director of Finance; whether or not such series of Bonds shall be subject to redemption prior to the stated maturity thereof and, if subject to such prior redemption, the times, prices, methods and other provisions for such prior redemption; and all other details of such series of Bonds. SECTION 4. Redemption of Bonds. In the event any of the Bonds shall be subject to prior redemption and if any Bond (or portion thereof in installments which are integral multiples of the smallest denomination thereof)is to be redeemed,notice of redemption shall be given in such manner as the Director of Finance shall determine. If any Bond shall have been duly called for redemption and notice of such redemption duly given in the manner determined by the Director of Finance, and if moneys for the payment of such Bond at the then applicable redemption price and the interest accrued on the principal amount thereof to the date of redemption are made or duly provided for by the County, interest on such Bond shall cease to accrue and become payable from and after the date fixed for redemption. SECTION 5. Payment of Bonds. The principal of and interest and premium, if any, on the Bonds shall be payable in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts. SECTION 6. Execution and Form of Fully Registered Bonds. The Bonds of a series shall be lithographed, steel engraved, typewritten, printed or in other reproduced form as the Director of Finance may determine. The Bonds of a series shall bear the manual or facsimile signatures of the Director of Finance and of the Mayor of the County, and shall also bear the bear the seal of the County or a facsimile of such seal. The Director of Finance may provide for the Bonds of a series to be issued in and effect a book-entry system for such Bonds. The Director of Finance may prepare such number of blank Bonds of any series executed and sealed as aforesaid as he shall determine and deliver such executed blank Bonds to the registrar for such series for safekeeping prior to the time such Bonds are actually issued, exchanged or transferred. The 3