Ordinance No. 19458 - Laserfiche WebLink

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Section 3. Authorization to Modify Principal Amount and Maturities. The Clty Council hereby authorizes the Finance Director to modify the principal amounts of the 1987 Refunding Certificates' annual maturities in insubstantial amounts to provide for any changes in the aggregate principal amount of 1987 Refunding Certificates as may be required for the purchase of sufficient Government Obligations for deposit into the 1987 Escrow Deposit Fund . Section 4. Payment of 1987 Refunding Certificates. The principal of the 1987 Refunding Certificates shall be payable upon presentation of the 1987 Refunding Certificates at maturity at the office of the Certificate Paying Agent in Portland, Oregon. Payment of each installment of interest 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 1987 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 Gregor, N.A. of Portland, Oregon, as the Certificate Paying Agent and Certificate Registrar of the 1987 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 Aaminlstratlve Rule 1~D-~1-O10. Section 6. Transfer or Exchange of 1987 Refunding - Certif icates . The 1987 Refunding Certificates shall be .~ transferable, or subject to exchange, for fully registered 1987 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 Regis~.rar. mhe Certificate Registrar Shall maintain a record of the names and addresses of the registered owners of the 1987 Refunding Certificates . The records of registered certificate ownership .are not public records within the meaning of Cregan Revised Statutes 192.4104}. All certificates issued upon transfer, or in exchange, for 1987 Refunding Certificates shall evidence the same debt and be entitled to the same benefits as the 1987 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 or exchange any certificate after the close of business on the 15th day of the month next preceding any interest payr~ent date, or ~ 2 } to transfer or exchange any 1987 ~, - - Refunding Certificate called or being called far redemption. ORDINANCE -- _Page d .