Ordinance No. 19627 - Laserfiche WebLink

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Section 3. Authorization to Modify Principal Amount and Maturities. The City Council hereby authorizes the Finance Director to modify the aggregate par amount 4issue price} of the 1989 Refunding Certificates and the annual maturities of the 1989 Refunding Certificates in insubstantial amounts to provide for any changes in the aggregate par amount tissue price} of 1989 Refunding Certificates as may be required far the purchase of sufficient Government Obligations for deposit into the 1989 Escrow Deposit Fund to defease the 1985 Refunding Certificates. Section 4. Payment of 1989 Refunding Certificates. The principal of the 1989 Refunding Certificates shall be payable upon presentation of the 1989 Refunding Certificates at maturity at the office of the Certificate Paying Agent in Port land, oregon, Payment of each installment of interest due on June 1 and December 1 of each year shall be made by check or draft of the Certificate Paying Agent mailed to the registered owner of each 19$9 Refunding Certificate whose name and address appears on the registration books maintained by the Certificate Registrar as of the close of business on the 15th day of the month next preceding the interest payment date. Section 5. Designation of Paying Agent and Certificate Registrar. The City Council does approve of the designation of the First Interstate Bank of Oregon, N.A. of Portland, Oregon, as the Certificate Paying Agent and Certificate Registrar of the 19$9 Refunding Certificates. The Finance Director is authorized to negotiate and execute on behalf of the City a Certificate Paying Agent and Registrar Agreement, as approved as to form by the City Attorney. The Agreement shall provide for compliance with Oregon Administrative Rule 170-~1~-D1Q. Section ~. Transfer or Exchange of 1989 Refunding Certificates. The 1989 Refunding Certificates shall be transferable, or subject to exchange, for fully registered 1989 Refunding Certificates in the denomination of $5,000, or integral multiples thereof by the registered owner thereof in person, or by the owner' s attorney, duly authorized in writing, at the office of the Certificate Registrar. The Certificate Registrar shall maintain a record of the names and addresses of the registered owners of the 1989 Refunding Certificates. The records of registered certa.ficate ownership are not public records within the meana.ng of oregon Revised Statutes 192,4104}. All certificates issued upon transfer, or in exchange, for 1989 Refunding Certificates shall evidence the same debt and be entitled to the same benefits as the 19$9 Refunding Certificates surrendered for such exchange or transfer. .All fees, expenses and charges of the Paying Agent and of the Certificate Registrar shall be payable by the City. The Certificate Registrar shall ORDINANCE -- Page 4.