Laserfiche WebLink
upon surrender to the Bond Registrar of the Bond so mutilated. Every mutilated Bond so <br /> surrendered shall be cancelled and destroyed by the Bond Registrar. <br /> In case any Bond shall be lost, stolen or destroyed, the Bond Registrar may authenticate <br /> and deliver a new Bond or Bonds of like amount, date, and tenor to the Registered Owner thereof <br /> upon such Registered Owner's paying the expenses and charges of the City and the Bond <br /> Registrar in connection therewith and upon his or her filing with the Bond Registrar evidence <br /> satisfactory to the Bond Registrar that such Bond or Bonds were actually lost, stolen or destroyed <br /> and of his or her ownership thereof, and upon furnishing the City and the Bond Registrar with <br /> indemnity satisfactory to the Finance Director and the Bond Registrar. <br /> Section 8. Bond Fund. There is hereby created in the office of the Finance Director a <br /> special fund to be drawn upon for the purpose of paying the principal of and interest on the Bonds <br /> to be known as the "Limited Tax General Obligation Bond Redemption Fund, 1996" (the "Bond <br /> Fund"). The taxes hereafter levied for the purpose of paying principal of and interest on the <br /> Bonds and other funds to be used to pay the Bonds shall be deposited in the Bond Fund no later <br /> than the date such funds are required for the payment of principal of and interest on the Bonds. <br /> Money in the Bond Fund not needed to pay the interest or principal next coming due may <br /> temporarily be deposited in such institutions or invested in such obligations as may be lawful for <br /> the investment of City funds. <br /> Section 9. Pledge of Taxation and Credit. The City hereby irrevocably covenants and <br /> agrees for as long as any of the Bonds are outstanding and unpaid that each year it will include in <br /> its budget and levy an ad valorem tax upon all the property within the City subject to taxation in <br /> an amount that will be sufficient, together with all other revenues and money of the City legally <br /> available for such purposes, to pay the principal of and interest on the Bonds as the same shall <br /> become due. All of such taxes so collected and any other money to be used for such purposes <br /> shall be paid into the Bond Fund. <br /> The City hereby irrevocably pledges that the annual tax provided for herein to be levied <br /> for the payment of such principal and interest shall be within and as a part of the tax levy <br /> -10- DOTOF7 DOC 96/03/12 <br />