ORDINANCES & RESOLUTIONS 2009 - Laserfiche WebLink

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• In the event that the winning bidder opts to aggregate certain Bonds into Term Bonds, such Term Bonds shall be subject to mandatory sinking fund redemption prior to maturity at a redemption price equal to 100% of the principal amount thereof, plus accrued interest to the redemption date, but without premium, on February 1 or August I of each year in the principal amounts set forth in the Award Certificate. The Registrar and Paying Agent shall credit against any mandatory sinking fund requirement for a Term Bond of a particular maturity, any Bonds of such maturity delivered to the Registrar and Paying Agent for cancellation or purchased for cancellation by the Registrar and Paying Agent and cancelled by the Registrar and Paying Agent and not theretofore applied as a credit against any mandatory sinking fund requirement. Each Bond so delivered or purchased shall be credited by the Registrar and Paying Agent at 100% of the principal amount thereof against the mandatory sinking fund requirements for the applicable Term Bond in any manner which the Town elects in writing delivered to the Registrar and Paying Agent (such election to occur prior to the date forty-five (45) days prior to the next sinking fund redemption date for such bond), and the principal amount of such Term Bond to be redeemed on such mandatory sinking fund redemption dates by operation of the mandatory sinking fund requirements shall be reduced accordingly; provided, however, the Registrar and Paying Agent shall only credit Bonds against the mandatory sinking fund requirements to the extent such Bonds are received on or before forty-five (45) days preceding the applicable mandatory sinking fund redemption date. The Registrar shall determine by lot (treating each $5,000 principal amount of each Bond as a separate Bond for such purpose) the Bonds within a Term Bond of a particular maturity to be redeemed pursuant to mandatory sinking fund redemption requirements on February 1 or August 1 of each year. Notice of any such mandatory sinking fund redemption shall be given in the manner provided in this SECTION 5 of this Ordinance. SECTION 6. Execution and Authentication of the Bonds and BANs; Book-Entry-Only Obligations. The Bonds and the BANs shall be executed in the name of the Town by the manual or facsimile signature of the President of the Town Council (the "President of the Town Council") and attested by the manual or facsimile signature of the Clerk-Treasurer, who shall cause the seal, if any, of the Town or a facsimile thereof to be affixed to each of the Bonds and the BANs. The Bonds and the BANs shall be authenticated by the manual signature of the Registrar, and no Bond or BAN shall be valid or become obligatory for any purpose until the certificate of authentication thereon has been so executed. In case any Official whose signature appears on any Bond or BAN shall cease to be such Official before the delivery of such Bond or BAN,the signature of such Official shall nevertheless be valid and sufficient for all purposes, the same as if such Official had been in office at the time of such delivery. Subject to the provisions of this Ordinance regarding the registration of the Bonds and BANs, the Bonds and BANs shall be fully negotiable instruments under the laws of the State of Indiana. The Bonds and the BANs may, in compliance with all applicable laws,be issued and held in book-entry form on the books of the central depository system, The Depository Trust Company, its successors, or any successor central depository system appointed by the Town from time to time (the "Clearing Agency"). The Town and Registrar may, in connection therewith, do or perform or cause to be done or performed any acts or things not adverse to the 9