HomeMy WebLinkAbout0048_0046FORM OF ASSIGNMENT:
,: I
ASSIGNMENT
For value received, the undersignedF- 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
z: 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 bf 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.. N A 'special Interests 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 4Interest 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 -
Ideposited, :.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;':prQduce
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 &a 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 ara 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 principalmatures, 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 "Def eased 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
16