Ordinance No. 19313 - Laserfiche WebLink

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Payment of each installment of interest on the interest bearing Certificates on dune 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 Advance Refunding Certificate whose name and address appears on the registration books maintained by the Certlfa.cate Registrar as of the close of business on the 15th day of the month next preceding the interest payment date. Section 4. 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 Advance Refunding Certificates. The City Manager 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 174--61-010. Section 5. Transfer or Exchange of Advance Refunding Certificates. The Advance Refunding Certificates shall be transferable, ar subject to exchange, for fully registered Advance Refunding Certificates in the denomination of $5,444, 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 Advance Refunding Certificates . The records of registered bond ownership are not public records within the meaning of Oregon Revised Statutes 192,41Q~47. All certificates issued upon transfer, or in exchange, for Advance Refunding Certificates shall evidence the same debt and be entitled to the same benefits as the Advance 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 not be required ~ 1 ~ to transfer ar exchange any Bond after. the close of business on the 15th day of the month next preceding any interest payment date, or ~?-~ to transfer or exchange any Advance Refunding Certificate called or being called for redemption. Section 6, Budget Levy and _Appropriation. Each year the City shall in the manner and within the time provided by law take all such action as is necessary to .estimate in its budget documents and appropriate for expenditure during the budget year the amount of Basic Rent necessary to pay maturing principal and interest on the Advance Refunding Certificates and any Additional Rentals which will be payable during such budget year, and to keep the appropriation in full force and effect during the year. Such estimates shall include estimates of revenues to be provided by_ the Urban Renewal Agency of the City of Eugene ~ the "Agency" ~ . By the date required by Section 294.635 of the Oregon Revised Statutes for ORDINANCE -- PAGE 3.