Laserfiche WebLink
shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of <br />this Ordinance equally and proportionately with any and all other Bonds duly issued under this <br />Ordinance. <br />(e) Authoritv for Issuing Replacement Bonds. In accordance with Sec. 1206.022, <br />Government Code, this Section 7 of this Ordinance shall constitute authority for the issuance of any <br />such replacement Bond without necessity of further action by the governing body of the Issuer or <br />any other body or person, and the duty of the replacement of such Bonds is hereby authorized and <br />imposed upon the Paying Agent/Registrar, and the Paying Agent/Registrar shall authenticate and <br />deliver such Bonds in the form and manner and with the effect, as provided in Section 3(a) of this <br />Ordinance for Bonds issued in conversion and exchange for other Bonds. <br />Section 8. CUSTODY, APPROVAL, AND REGISTRATION OF BONDS; BOND <br />COUNSEL'S OPINION; CUSIP NUMBERS AND CONTINGENT INSURANCE PROVISION, <br />IF OBTAINED; ENGAGEMENT OF BOND COUNSEL. <br />(a) The Mayor of the Issuer is hereby authorized to have control of the Bonds initially issued <br />and delivered hereunder and all necessary records and proceedings pertaining to the Bonds pending <br />their delivery and their investigation, examination, and approval by the Attorney General of the State <br />of Texas, and their registration by the Comptroller of Public Accounts of the State of Texas. Upon <br />registration of the Bonds said Comptroller of Public Accounts (or a deputy designated in writing to <br />act for said Comptroller) shall manually sign the Comptroller's Registration Certificate attached to <br />such Bonds, and the seal of said Comptroller shall be impressed, or placed in facsimile, on such <br />Bond. The approving legal opinion of the Issuer's Bond Counsel and the assigned CUSIP numbers <br />may, at the option of the Issuer, be printed on the Bonds issued and delivered under this Ordinance, <br />but neither shall have any legal effect, and shall be solely for the convenience and information of <br />the registered owners of the Bonds. In addition, if bond insurance is obtained, the Bonds may bear <br />an appropriate legend as provided by the insurer. <br />(b) The obligation of the initial purchaser to accept delivery of the Bonds is subject to the <br />initial purchaser being furnished with the final, approving opinion of McCall, Parkhurst & Horton <br />L.L.P., bond counsel to the Issuer, which opinion shall be dated as of and delivered on the date of <br />initial delivery of the Bonds to the initial purchaser. The engagement of such firm as bond counsel <br />to the Issuer in connection with issuance, sale and delivery of the Bonds is hereby approved and <br />confirmed. The execution and delivery of an engagement letter between the Issuer and such firm, <br />with respect to such services as bond counsel, is hereby authorized in such form as may be approved <br />by the Mayor or the City Manager, and the Mayor or the City Manager is hereby authorized to <br />execute such engagement letter. <br />Section 9. COVENANTS REGARDING TAX EXEMPTION OF INTEREST ON THE <br />BONDS. <br />(a) Covenants. The Issuer covenants to take any action necessary to assure, or refrain from <br />any action that would adversely affect, the treatment of the Bonds as obligations described in section <br />103 of the Code, the interest on which is not includable in the "gross income" of the holder for <br />purposes of federal income taxation. In furtherance thereof, the Issuer covenants as follows: <br />16 <br />