O-2005-2858 - Laserfiche WebLink

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Section 6.5: Paying Agent/Registrar Mav Own Obligations. The Paying Agent/Registrar in its individual or any other capacity, may become the owner or pledgee of Obligations with the same rights it would have if it were not the Paying Agent/Registrar. Section 6.6: Successor Paving Agents/Registrars. The City covenants that at all times while any Obligations are Outstanding it will provide a legally qualified bank, trust company, financial institution or other agency to act as Paying Agent/Registrar for the Obligations. The City reserves the right to change the Paying Agent/Registrar for the Obligations on not less than sixty (60) days' written notice to the Paying Agent/Registrar, as long as any such notice is effective not less than 60 days prior to the next succeeding principal or interest payment date on the Obligations. Promptly upon the appointment of any successor Paying Agent/Registrar, the previous Paying Agent/Registrar shall deliver the Register or a copy thereof to the new Paying AgentlRegistrar, and the new Paying AgentlRegistrar shall notify each Registered Owner, by United States mail, first class, postage prepaid, of such change and of the address of the new Paying AgentlRegistrar. Each Paying AgentlRegistrar hereunder, by acting in that capacity, shall be deemed to have agreed to the provisions of this Ordinance. ARTICLE VII PROVISIONS CONCERNING SALE AND APPLICATION OF PROCEEDS OF OBLIGATIONS Section 7.1: Sale of Obligations. The sale of the Certificates to the Purchaser at a price of the par value thereof is hereby approved, and delivery of the Obligations to the Purchaser shall be made upon payment therefor in accordance with the terms of the Investor Letter attached hereto as Exhibit D, which price and terms are hereby found and determined to be the most advantageous reasonably obtainable by the City. The Mayor, Mayor Pro- Tem and all other officials, agents and representatives of the City are hereby authorized to do any and all things necessary or desirable to provide for the issuance and delivery of the Obligations. Section 7.2: Approval. Registration and Delivery. The Mayor is hereby authorized to have control and custody of the Obligations and all necessary records and proceedings pertaining thereto pending their delivery, and the Mayor and other officers and employees of the City are hereby authorized and directed to make such certifications and to execute such instruments as may be necessary to accomplish the delivery of the Obligations and to assure the investigation, examination and approval thereof by the Attorney General and the registration of the initial Obligations by the Comptroller. Upon registration of the Obligations, the Comptroller (or the Comptroller's certificates clerk or an assistant certificates clerk lawfully designated in writing to act for the Comptroller) shall manually sign the Comptroller's Registration Certificates prescribed herein to be attached or affixed to each Obligation initially delivered and the seal of the Comptroller shall be impressed or printed or lithographed thereon. Section 7.3: Application of Proceeds of Obligations; Appropriation. Proceeds from the sale of the Obligations shall, promptly upon receipt by the City, be applied as follows: 12 HOU:2516661.4