RES 94045A - Laserfiche WebLink

The Bonds shall be dated May 1, 1994, and bear interest from the Payment Date immediately preceding the date of authentication thereof by the Trustee, unless such date of authentication is on or after the fifteenth (15th) day of the calendar month prior to a Payment Date, in which case they shall bear interest from such Payment Date, or unless such date of execution is prior to October 15, 1994, in which case they shall evidence and represent interest from May 1, 1994. Section 503. Interest on the Bonds. Interest on the Bonds shall be paid on the Payment Dates, commencing November 1, 1994, at the rates per annum set forth in Section 502 hereof, calculated on the basis of a 360-day year consisting of twelve 30-day months. Section 504. Form of Bonds. The Bonds and the assignment to appear thereon shall be in substantially the form set forth in Appendix A hereto with appropriate or necessary insertions, omissions and variations as permitted or required hereby. Section 505. Execution of Bonds. The Bonds shall be executed by the manual or facsimile signature of the Chair or Executive Director of the Authority, and shall be attested to by the manual or facsimile signature of the Secretary of the Authority. The Bonds shall be authenticated by the manual signature of an authorized officer of the Trustee. Section 506. Transfer and Exchange of Bonds. Subject to the provisions of Section 511 hereof, (a) each Bond shall be transferable only upon a register of the names of each Owner (the "Bond Register"), which shall be kept for that purpose at the Principal Office of the Trustee, by the Owner thereof in person or by his attorney duly authorized in writing, upon surrender thereof together with a written instmment of transfer satisfactory [o the Tmstee duly executed by the Owner or his duly authorized attorney. Upon the transfer of any such Bond, the Trustee shaliprovide in the name of the Vansferee, a new Bond or Bonds, of the same aggregate principal amount, interest rate and maturity as the surrendered Bonds (unless there has occurred a partial redemption of such Bond pursuant to Section 512 hereof, in which case the principal amount of the new Bond shall be equal to the unredeemed principal amount of the Bond submitted for transfer). (b) The Trustee shall deem and treat the person in whose name any Outstanding Bond shall be registered upon the Bond. Register as the absolute owner of such Bond, whether such Bond shall be overdue or not, for the purpose of receiving payment of, or on account of, the principal of and interest on such Bond and for all other purposes, and all such payments so made to any such Owner or upon his order shall be valid and effectual to 940G901MLA1 20