Ordinance 1433-88 - Laserfiche WebLink

• delivered by the Bond Registrar, or issued by the City, such 1988 Bonds shall be valid nevertheless and may be issued by the City with the same effect as though the persons who had executed such 1988 Bonds had not ceased to be such officers . Section 20. Sale of 1988 Bonds. The sale of the 1988 Bonds to Shearson Lehman Brothers Inc . , Foster & Marshall Division, Seattle, Washington, Seattle-Northwest Securities Corporation, Seattle, Washington, and Dain Bosworth Incorporated, Seattle, Washington pursuant to the Purchase Contract at such interest rates, with such maturities, at such price and upon such terms and conditions as set forth in said proposal and in this ordinance, is hereby ratified, approved and confirmed. Section 21 . Temporary 1988 Bond. Until the definitive 1988 Bonds are prepared, the City may execute a temporary bond which shall be typewritten, and which shall be delivered to the pur- chaser or purchasers of the 1988 Bonds in lieu of definitive 1988 Bonds, but subject to the same provisions, limitations and condi- tions. The temporary 1988 Bond shall be dated as of the date of the 1988 Bonds, shall be fully registered, shall be in the denomi- nation of the aggregate principal amount of the 1988 Bonds as set forth in the Purchase Contract, shall be numbered T-1, shall be substantially of the tenor of such definitive 1988 Bonds, but with such omissions, insertions and variations as may be appropriate to temporary bonds and shall be signed by the Mayor and City Clerk. Upon surrender to the City of any such temporary 1988 Bond, the City without charge to the registered owner shall execute and deliver to the registered owner of the temporary 1988 Bond in exchange therefor definitive 1988 Bonds of the same maturities, interest rates, redemption provisions and aggregate principal amount as the temporary 1988 Bond, if any, surrendered. Until so exchanged, the temporary 1988 Bond shall be in all respects -58- KR180 88/01/11