Resolution - #93-10-242 - 10/12/1993

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de~ fix~ th~ i (i) Redemption. In the event any of the Bonds are called for re- ipti~n, no'tiee thereof identifying the Bonds to be redeemed will be given ihe ~egistrar by mailing a copy of the redemption notice by first class mail ~tal~e prepaid) not more than 60 and not less than 30 days prior to the date ~i fSr redemption to the registered owner of each Bond to be redeemed at address shown on the registration books kept by the Registrar. Failure ttmr. Ce~t same repr, e conclusive tion. Whe~ Administz'a price in Purchaser to giveinotice by publication or by mail to any registered owner, or any defect thel~eir~, will not affect the validity of any proceeding for the redemption of Bol~ ds.~ Bonds so called for redemption will cease to bear interest after the spe ~ified redemption date, provided that the funds for the redemption are on dep!mif~with the place of payment at that time. 2.04. ,~ppointment of Initial Registrar. The City appoints American National Bank and ~T[us{ComDany , St. Paul , Minneso~e~ Registrar.I ~he Mayor and the Czty Adnnmstrator are authorzzed to execute and deliver, o~ b~half of the City, a contract with the Registrar. Upon merEer or con- solidatio~ ,~f t~e ]~egistrar with another corporation, if the resulting corporation is a bank o.~ t_~_st company authorized by law to conduct such business, such corporati~ i~ authorized to act as successor Registrar. The City agrees to pay the reasonab!~an~! customary charges of the Registrar for the services performed. The City rese~'~e$1the right to remove the Registrar upon 30 days' notice and upon the appointme .~t o[ a successor Registrar, in which event the predecessor Registrar must deliver allicaSh and Bonds in its possession to the successor Registrar and must deliver th~ bond register to the successor Registrar. On or before each principal or intere-~t du~.~ date, without further order of this Council, the Administrator must transmit ti. tt!e Registrar moneys sufficient for the payment of ail principal and interest tb~-n ~lue. 2.0~[, F~ ecution~ Authentication and Delivery. The Bonds will be prepared under the ~iir~ction of the Administrator and executed on behalf of the City by the signatures~ofShe Mayor and the Administrator, provided that all signatures may be printed, e.~gr~.' red or lithographed facsimiles of the originals. In ease any officer whose sig~tt~'e or a facsimile of whose signature appears on the Bonds ceases to be such officer ~efore the delivery of any Bond, such signature or facsimile will nevertheless l~_e Valid and sufficient for all purposes, the same as if the officer had remained t~i o~ice until delivery. Notwithstanding such execution, a Bond will not be valid o2'iobl~gatory for any purpose or entitled to any security or benefit under this ResolUtio~l unless and until a certificate of authentication on the Bond has been duly execil~ied'~by the manual signature of an authorized representative of the Regis- ifieates of authentication on different Bonds need not be signed by the secretive. The executed certificate of authentication on each Bond is evidence that it has been authenticated and delivered under this Resolu- ~ rite Bonds have been so prepared, executed and authenticated, the ior ~hall deliver the same to the Purchaser upon payment of the purchase lor~ance with the contract of sale heretofore made and executed, and the is I~ot obligated to see to the application of the purchase price. 2.06! Temporary Bonds. The City may elect to deliver in lieu of printed definitive .Bon~[s one or more typewritten temporary Bonds in substantially the form set forth i~ maturity itz Bonds the.' RA125-35 SeStion 3 with such changes as may be necessary to reflect more than one a s]ngle temporary bond. Upon the execution and delivery of definitive eml~oral'y Bonds will be exchanged therefor and cancelled.