HomeMy WebLinkAbout0118_0010exchange for any portion of the Initial Certificate of
Obligation shall have a single stated principal maturity date,
and shall not be payable in installments; and each such
Certificate of Obligation shall have a principal maturity date
corresponding to the due date of the installment of principal
or portion thereof for which the substitute Certificate of
Obligation is being exchanged; and each such Certificate of
Obligation shall bear interest at the single rate applicable
to and borne by such installment of principal or portion
thereof for which it is being exchanged. If a portion of any
Certificate of Obligation (other than the Initial Certificate
of Obligation) shall be redeemed prior to its scheduled
maturity as provided herein, a substitute Certificate of
Obligation or Certificates of Obligation having the same
maturity date, bearing interest at the same rate, in the
denomination or denominations of any integral multiple of
$5,000 at the request of the registered owner, and in
aggregate principal amount equal to the unredeemed portion
thereof, will be issued to the registered owner upon surrender
thereof for cancellation. If any Certificate of Obligation or
portion thereof (other than the Initial Certificate of
Obligation) is assigned and transferred or converted, each
Certificate of Obligation issued in exchange therefor shall
have the same principal maturity date and bear interest at the
same rate as the Certificate of Obligation for which it is
being exchanged. Each substitute Certificate of Obligation
shall bear a letter and/or number to distinguish it from each
other Certificate of Obligation. The Paying Agent/Registrar
shall convert and exchange or replace Certificates of
Obligation as provided herein, and .each fully registered
certificate of obligation delivered in conversion of and
exchange for or replacement of any Certificate of Obligation
or portion thereof as permitted or required by any provision
of this Ordinance shall constitute one of the Certificates of
Obligation for all purposes of this Ordinance, and may again
be converted and exchanged or replaced. It is specifically
provided that any Certificate of Obligation authenticated in
conversion of and exchange for or replacement of another
Certificate of Obligation on or prior to the first scheduled
Record Date for the Initial Certificate of Obligation shall
bear interest from the date of the Initial Certificate of
Obligation, but each substitute Certificate of Obligation so
authenticatedaftersuch first scheduled Record Date shall
bear interest from the interest payment date next preceding
the date on which such substitute Certificate of Obligation
was so authenticated, unless such Certificate of Obligation is
authenticated after any Record Date but on or before the next
following interest payment date, in which case it shall bear
interest from such next following interest payment date;
provided, however, that if at the time of delivery of any
substitute Certificate of Obligation the interest on the
Certificate of Obligation for which it is being exchanged is
due but has not been paid, then such Certificate of Obligation
shall bear interest from the date to which such interest has
been paid in full. THE INITIAL CERTIFICATE OF OBLIGATION
issued and delivered pursuant to this Ordinance is not
required to be, and shall not be, authenticated by the Paying
Agent/Registrar, but on each substitute Certificate of
Obligation issued in conversion of and exchange for or
replacement of any Certificate of Obligation or Certificates
of Obligation issued under this Ordinance there shall be
printed a certificate, in the form substantially as follows:
"PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
It is hereby certified that this Certificate of
Obligation has been issued under the provisions of the
Certificate of Obligation Ordinance described on the face of
this Certificate of Obligation; and that this Certificate of
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