HomeMy WebLinkAbout0117_0016FORM OF ASSIGNMENT
ASSIGNMENT
For value received the undersigned registered owner of this
Bond or duly authorized representative or attorney thereof
hereby assigns this Bond to
(print or type the name and
address of the assignee and
any other relevant information)
and authorizes the Paying Agent/Registrar to transfer the
registration of this Bond in the Registration Books
Dated
Registered Owner
(Notice The signature above must correspond with the
name of the Registered Owner as it appears upon the front of
this Bond in every particular without alteration or enlarge-
ment of any change whatsoever)
Signature Guaranteed
(Notice Signature(s) must be guaranteed by a member firm
of the New York Stock Exchange or a commercial bank or trust
company)
Section 8 TAX LEVY A special Interest and Sinking Fund
(the Interest and Sinking Fund ) is hereby created solely for
the benefit of the Bonds and the Interest and Sinking Fund
shall be established and maintained by the Issuer at an offi-
cial depository bank of the Issuer The Interest and Sinking
Fund shall be kept separate and apart from all other funds and
accounts of the Issuer and shall be used only for paying the
interest on and principal of the Bonds All ad valorem taxes
levied and collected for and on account of the Bonds shall be
deposited as collected to the credit of the Interest and
Sinking Fund During each year while any of the Bonds or
interest thereon are outstanding and unpaid the governing body
of the Issuer shall compute and ascertain a rate and amount of
ad valorem tax which will be sufficient to raise and produce
the money required to pay the interest on the Bonds as such
interest comes due and to provide and maintain a sinking fund
adequate to pay the principal of its Bonds as such principal
matures (but never less than 2/ of the original principal
amount of the Bonds as a sinking fund each year) and said tax
shall be based on the latest approved tax rolls of the Issuer
with full allowance being made for tax delinquencies and the
cost of tax collection Said rate and amount of 4d valorem tax
is hereby levied and is hereby ordered to be levied against
all taxable property in the Issuer for each year while any of
the Bonds or interest thereon ata outstanding and unpaid and
said tax shall be assessed and collected each such year and de-
posited to the credit of the aforesaid Interest and Sinking
Fund Said ad valorem taxes sufficient to provide for the
payment of the interest on and principal of the Bonds as such
interest comes due and such principal matures are hereby
pledged for such payment within the limit prescribed by law
Section 9 DEFEASANCE OF BONDS (a) Any Bond and the
interest thereon shall be deemed to be paid retired and no
longer outstanding (a Defeased Bond ) within the meaning of
this Ordinance except to the extent provided in subsection (d)
of this Section 9 when payment of the principal of such Bond
plus interest thereon to the due date (whether such due date be
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