Ordinance 818-81 - Laserfiche WebLink

• Section 13 . Execution of Bonds. Without unreasonable delay the City shall cause definitive Bonds to be prepared, executed and delivered, which Bonds shall be lithographed or printed with engraved or lithographed borders. The Bonds shall be executed on behalf of the City by the Mayor, shall be attested by the City Clerk (one of which signatures may be by facsimile and one of which shall be a manual signature) , and shall have the seal of the City impressed or imprinted thereon. The interest coupons attached thereto shall be signed with the facsimile signatures of said officials. Until the definitive Bonds are prepared, the City may, if deemed necessary by the Mayor, utilize a temporary Bond which shall be typewritten, and which shall be delivered to the pur- chaser or purchasers of the Bonds in lieu of definitive Bonds, but subject to the same provisions, limitations and conditions as the definitive Bonds. The temporary Bond shall be dated as of the date of the Bonds, shall be in the denomination of $16, 000, 000 shall be numbered T-1, shall be substantially of the tenor of such definitive Bonds, but with such omissions, insertions and variations as may be appropriate to temporary bonds, shall be issued without coupons, and shall be signed by the Mayor and City Clerk. Section 14. Sale of Bonds. The Bonds shall bear interest at such rate or rates, shall be sold at such price and to such purchaser or purchasers as hereafter determined by resolution of the City Council . Upon the sale of the Bonds, the proper officials of the City are hereby authorized and directed to do all things necessary for the prompt execution and delivery of the Bonds and for the proper use and application of the proceeds of sale thereof. -31-