Ordinance 1139-85 - Laserfiche WebLink

• The Refunding Bonds shall be obligations only of the Revenue Bond Fund and shall be payable and secured as provided herein. The Bonds shall not be general obligations of the City. Section 4. Bond Registration. The City hereby specifies and adopts the system of registration for the Bonds approved by the Washington State Finance Committee. The Bond Registrar shall keep, or cause to be kept, at its principal corporate trust office, sufficient books for the registration and transfer of the Bonds which shall at all times be open to inspection by the City and the Bond Insurer. The Bond Registrar is authorized, on behalf of the City, to authenticate and deliver Bonds transferred or exchanged in accordance with the provisions of such Bonds and this ordinance and to carry out all of the Bond Registrar' s powers and duties under this ordinance. The Bond Registrar shall be responsible for its representa- tions contained in the Certificate of Authentication on the Bonds. The Bond Registrar may become the owner of Bonds with the same rights it would have if it were not the Bond Registrar, and to the extent permitted by law, may act as depository for and permit any of its officers or directors to act as a member of, or in any other capacity with respect to, any committee formed to protect the rights of the owners of the Bonds. Section 5 . Redemption Prior to Maturity. A. Optional Redemption. The City hereby reserves the right to redeem the outstanding Bonds maturing on or after July 1, 1996, in whole, or in part in inverse order of maturity (and by lot within each maturity in such manner as the Bond Registrar shall determine) , on July 1, 1995, or on any interest payment date thereafter, at par, plus accrued interest to the date of redemption, provided, that the City shall be in compliance with Section 9 .3(2 ) at the time of any such redemption. -14- WMD202 85/06/10