Laserfiche WebLink
<br /> <br /> ~ <br /> <br /> <br /> <br /> <br /> <br /> FORM OF ASSIGNMENT: <br /> <br /> ASSIGNMENT <br /> For value received, the undersigned registered owner of this <br /> Bond, or duly authorized representative or attorney thereof, <br /> hereby assigns this Bond to <br /> <br /> (print or type the name and <br /> address of the assignee and <br /> any other relevant information) <br /> and authorizes the Paying kgent/Fegistrar to transfer the <br /> registration of this Bond in the Registration Books. <br /> <br /> Dated <br /> Registered Owner <br /> (Notice: The signature above must correspond with the <br /> name of the Registered Owner as it appears upon the front of <br /> this Bond in every particular, without alteration or enlarge- <br /> ment or any change whatsoever). <br /> <br /> Signature Guaranteed: <br /> <br /> <br /> <br /> (Notice: Signature(s) must be guaranteed by a member firm <br /> of the New York Stock Exchange or a commercial bank or trust <br /> company). <br /> Section 8. TAX LEVY. A special Interest and Sinking Fund <br /> (the "Interest and Sinking Fund") is hereby created solely for <br /> the benefit of the Bonds, and the Interest and Sinking Fund <br /> shall be established and maintained by the Issuer at an offi- <br /> cial depository bank of the Issuer. The Interest and Sinking <br /> Fund shall be kept separate and apart from all other funds and <br /> accounts of the Issuer, and shall be used only for paying the <br /> interest on and principal of the Bonds. All ad valorem taxes <br /> levied and collected for and on account of the Bonds shall be <br /> deposited, as collected, to the credit of the Interest and <br /> ~ Sinking Fund. During each year while any of the Bonds or <br /> interest thereon are outstanding and unpaid, the governing body <br /> of the Issuer shall compute and ascertain a rate and amount of <br /> ad valorem tax which will be sufficient to raise and produce <br /> the money required to pay the interest on the Bonds as such <br /> interest comes due, and to provide and maintain a sinking fund <br /> adequate to pay the principal of its Bonds as such principal <br /> matures (but never less than 2% of the original principal <br /> amount of the Bonds as a sinking fund each year); and said tax <br /> shall be based on the latest approved tax rolls of the Issuer, <br /> I with full allowance being made for tax delinquencies and the <br /> p cost of tax collection. Said rate and amount of ad valorem tax <br /> is hereby levied, and is hereby ordered to be levied, against <br /> all taxable property in the Issuer for each year while any of <br /> the Bonds or interest thereon are outstanding and unpaid; and <br /> said tax shall be assessed and collected each such year and de- <br /> posited to the credit of the aforesaid Interest and Sinking <br /> Fund. Said ad valorem taxes sufficient to provide for the <br /> payment of the interest on and principal of the Bonds, as such <br /> interest comes due and such principal matures, are hereby <br /> pledged irrevocably for such payment, within the limit pre- <br /> scribed by law. <br /> Section 9. DEFEASANCE OF BONDS. (a) Any Bond and the <br /> interest thereon shall be deemed to be paid, retired, and no <br /> longer outstanding (a "Defeased Bond") within the meaning of <br /> this Ordinance, except to the extent provided in subsection (d) <br /> ~ <br /> 15 <br />