Ordinance 3405-14 - Laserfiche WebLink

the Bond Registrar, to direct the method and place of conducting all proceedings to be taken in connection with the enforcement of the terms and conditions of the Liquidity Facility, or any other proceedings thereunder; provided that such direction shall be in accordance with applicable law and satisfactory evidence of the ownership of such Bond provided to the Bond Registrar. Section 3.12. The Remarketing Agent. (a) One or more Remarketing Agents may be appointed from time to time by the Designated Representative with the prior written consent of the Liquidity Facility Provider, if any (which consent shall not be unreasonably withheld). Each Remarketing Agent appointed in accordance with this ordinance shall designate its principal office and signify its acceptance of the duties and obligations imposed upon it as described herein by a written instrument of acceptance delivered to the City, the Bond Registrar and the Liquidity Facility Provider, or by executing and delivering a Remarketing Agreement, in either case under which the Remarketing Agent will agree, particularly: (1) To hold all moneys delivered to it hereunder for the purchase of Bonds in trust for the exclusive benefit of the person or persons that shall have so delivered such moneys until the Bonds purchased with such moneys shall have been delivered to or for the account of such person or persons; (2) To keep such books and records as shall be consistent with prudent industry practice and to make such books and records available for inspection by the City and the Bond Registrar at all reasonable times; (3) To determine the Variable Rates, Short-Term Rates, Long-Term Rates, and the Fixed Rate with respect to the Bonds and the Applicable Spread and give notice of such rates or spread, as applicable in accordance with Article II; -74-4- P\20287 CMW20287 AMT 10/14/14