Resolution - #02-12-317 - 12/10/2002

Home

To effect a partial redemption of Certificates having a common maturity date, the Certificate Registrar prior to giving notice of redemption shall assign to each Certificate having a common maturity date a distinctive number for each $1,000 of the principal amount of such Certificate. The Certificate Registrar shall then select by lot, using such method of selection as it shall deem proper in its discretion, from the numbers so assigned to such Certificates, as many numbers as, at $1,000 for each number, shall equal the principal amount of such Certificates to be redeemed. The Certificates to be redeemed shall be the Certificates to which were assigned numbers so selected; provided, however, that only so much of the principal amount of each such Certificate of a denomination of more than $1,000 shall be redeemed as shall equal $1,000 for each number assigned to it and so selected. If a Certificate is to be redeemed only in part, it shall be surrendered to the Certificate Registrar (with, if the City or Certificate Registrar so requires, a written instrument of transfer in form satisfactory to the City and Certificate Registrar duly executed by the holder thereof or his, her or its attorney duly authorized in writing) and the City shall execute (if necessary) and the Certificate Registrar shall deliver to the Holder of such Certificate, without service charge, a new Certificate or Certificates of the same series having the . same stated maturity and interest rate and of any authorized denomination or denominations, as requested by such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Certificate so surrendered. 6. Certificate Registrar. The Administrator of the City, is appointed to act as certificate registrar and transfer agent with respect to the Certificates (the "Certi/icate Registrar"), and shall do so unless and until a successor Certificate Registrar is duly appointed. Any successor Certificate Registrar shall act as certificate registrar and transfer agent pursuant to any contract the City and successor certificate registrar shall execute which is consistent herewith. The Certificate Registrar shall also serve as paying agent unless and until a successor paying agent is duly appointed. Principal and interest on the Certificates shall be paid to the registered holders (or record holders) of the Certificates in the manner set forth in the form of' Certificate and paragraph 12 of this resolution. 7. Form of Certificate. The Certificates, together with the Certificate of Registration, the Register of Partial Payments, the form of Assignment and the registration information thereon, shall be in substantially the following form: 1479134vt 3