2024-01-18-AGENDA-Special - Laserfiche WebLink

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accomplishing the Refunding, paying expenses incidental thereto and expenses of issuing and insuring the Series 2024A Bonds and partially funding a debt service reserve and (b) the Series 2024B Bonds are hereby authorized and ordered issued in the total principal amount of $ for the purpose of financing all or a portion of costs of the Improvements, paying expenses incidental thereto and expenses of issuing and insuring the Series 2024B Bonds and partially funding a debt service reserve. The bonds shall bear interest at the rates and shall mature on February 1 in the amounts and in the years as follows: SERIES 2024A BONDS Year Principal (February 1) Amount Interest Rate SERIES 2024B BONDS Year Principal (February 1) Amount Interest Rate The bonds shall be issuable only as fully registered bonds without coupons in the denomination of $5,000 or any integral multiple thereof. Unless the City shall otherwise direct, the bonds shall be numbered from 1 upward in order of issuance. Each bond shall have a CUSIP number but the failure of a CUSIP number to appear on any bond shall not affect its validity. The bonds shall be registered initially in the name of Cede & Co., as nominee for The Depository Trust Company ("DTC"), which shall be considered to be the registered owner of the bonds for all purposes under this Ordinance, including, without limitation, payment by the City of principal of, redemption price, premium, if any, and interest on the bonds, and receipt of notices and exercise of rights of registered owners. There shall be one certificated, typewritten bond for each stated maturity date of each series which shall be immobilized in the custody of or on behalf of DTC with the beneficial owners having no right to receive the bonds in the form of physical securities or certificates. DTC and its participants shall be responsible for maintenance of records of the ownership of beneficial interests in the bonds by book -entry on the system maintained and operated by DTC and its participants, and transfers of ownership of beneficial interests shall be 3