Agenda - 06-17-2014 - 6h - Laserfiche WebLink

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C! the Bonds. Unless other funds are lawfully available and appropriated for timely payment of the Bonds, the County will levy and collect an annual ad valorem tax, without restriction as to rate or amount, on all locally taxable property in the County sufficient to pay the principal of and interest on the Bonds as the same become due. 4. Form of Bonds -- The Bonds will take the form of a single fully- registered bond to be designated "General Obligation Refunding Bond, Series 2015." The Bond will be fully registered as to payment of principal and interest, and will be registered initially in the name of the Purchaser. This Bond will be dated the date of its initial delivery to the Purchaser and will be numbered R -1 for identification. The Bond will be substantially in the form set out in Exhibit A, with such changes as the officers signing the Bond may approve. The delivery of the Bond to the Purchaser will be conclusive evidence of such officers' approval of the final form of the Bond. The Bond must be signed by the manual or facsimile signature of the County Manager or the Board Chair. The County's seal must be affixed to the Bond (or a facsimile of the seal printed on the Bond) and attested by the manual or facsimile signature of the Clerk to this Board. No Bond will be valid unless at least one signature appearing on the Bond is manually applied; the manual signature may be the signature of an LGC official that is required by law to appear on the Bond. 5. Bond Payment Provisions — The final aggregate principal amount of Bonds to be issued and the principal and interest payment schedule for the Bonds will be as stated in the final Forward Bond Purchase Agreement. Principal and interest on the Bonds will be payable in lawful money of the United States of America by federal reserve wire transfer (or other transfer of immediately available funds) sent to the Bondholder on the payable date. Principal of the Bonds will not be subject to prepayment or redemption in advance of the stated principal installment payment dates. 6. Disbursement of Bond Proceeds — The Board directs the Finance Officer to determine, in consultation with the LGC, the procedures for the disbursement of the proceeds of the Bonds for the payment of the Prior Bonds and other costs. 7. Finance Officer as Registrar; Payments to Registered Owners -- (a) The Finance Officer is appointed Registrar for the Bonds. As Registrar, the Finance Officer must maintain appropriate books and records of the ownership of the Bonds. (b) The County will treat the registered owner of each Bond as the person exclusively entitled to payment of principal and interest and the exercise of all rights and powers of the owner, except that the County will make all payments to the person shown as owner on the registration books at the end of the calendar day on the 15th day 2