ORD 2018-079 2016-2018 - Laserfiche WebLink

Home

redeemable prior to the stated maturity thereof at any time at prices not exceeding 103 % of the principal amount thereof, and shall bear interest at such rate or rates per annum,not to exceed Two and Three-Eighths Percent(2 3/8%)per annum,as may be determined by the Director of Finance and agreed to by USDA. In accordance with and subject to the provisions of this ordinance,the Director of Finance is hereby authorized to determine with respect to the Additional USDA Bonds of a series, the series designation;the date of the Additional USDA Bonds of such series;the interest rates and payment dates of the Additional USDA Bonds of such series; the maturity dates of the Additional USDA Bonds of such series and the principal amount of such Additional USDA Bonds maturing on each maturity date; the registration privileges and place or places at which the Additional USDA Bonds of such series may be paid or registered which may include the office of the Director of Finance; whether or not the Additional USDA Bonds of such series shall be subject to redemption prior to the stated maturities and, if subject to such prior redemption,the times,prices,methods and other provisions for such prior redemption; and all other details of the Additional USDA Bonds of such series. SECTION 4. Redemption of Bonds. In the event any of the Additional USDA Bonds shall be subject to prior redemption and if any Additional USDA Bond(or portion thereof)is to be redeemed, notice of redemption shall be given in such manner as the Director of Finance shall determine. If any Additional USDA 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 Additional USDA 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 Additional USDA 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 Additional USDA 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 Additional USDA Bonds shall be lithographed or steel engraved, typewritten, printed or other reproduced as the Director of Finance shall determine. The Additional USDA Bonds of a series shall bear the manual or facsimile signatures of the Director of Finance and of the Mayor of the County,shall be impressed with or bear a facsimile of the seal of the County,and shall be authenticated by the Registrar(unless the Director of Finance is serving as Registrar and has manually signed the Additional USDA Bonds as aforesaid). The Director of Finance may, at such official's election,prepare such number of blank Additional USDA Bonds of any series executed and sealed as aforesaid as such official shall determine and deliver such executed blank Additional USDA Bonds to the Registrar for such series (if other than the Director of Finance) for safekeeping prior to the time such Additional USDA Bonds are actually issued, exchanged or transferred. The Additional USDA Bonds shall be designated and the form of the Additional USDA Bonds, the Registrar's certificate of authentication,if applicable,and the assignment shall be substantially in 3