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SA-3 - RESO TAX ALLOCATION BOND
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SA-3 - RESO TAX ALLOCATION BOND
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Last modified
7/12/2018 5:35:37 PM
Creation date
7/12/2018 5:27:26 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
SA-3
Date
7/17/2018
Destruction Year
2023
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Section 12.03 Unclaimed Moneys. Anything contained herein to the contrary <br />notwithstanding, any money held by the Trustee in trust for the payment and discharge of the <br />interest on, or principal or prepayment premium, if any, of any Bond which remains unclaimed <br />for two (2) years after the date when such amounts have become payable, if such money was <br />held by the Trustee on such date, or for two (2) years after the date of deposit of such money if <br />deposited with the Trustee after the date such amounts have become payable shall be paid by the <br />Trustee to the Agency as its absolute property free from trust, and the Trustee shall thereupon be <br />released and discharged with respect thereto and the Owners shall look only to the Agency for <br />the payment of such amounts; provided, that before being required to make any such payment to <br />the Agency, the Trustee shall, at the expense of the Agency, give notice by first class mail to all <br />Owners and to the Securities Depository and the MSRB that such money remains unclaimed and <br />that after a date named in such notice, which date shall not be less than sixty (60) days after the <br />date of giving such notice, the balance of such money then unclaimed will be returned to the <br />Agency. <br />Section 12.04 Moneys Held for Particular Bonds. The money held by the Trustee for <br />the payment of the principal of or premium or interest on particular Bonds due on any date (or <br />portions of Bonds in the case of Bonds redeemed in part only) shall, on and after such date and <br />pending such payment, be set aside on its books and held in trust by it for the Owners of the <br />Bonds entitled thereto, subject, however, to the provisions of Section 12.03 hereof, but without <br />any liability for interest thereon. <br />Section 12.05 Successor Is Deemed Included in All References to Predecessor. <br />Whenever in the Indenture either the Agency or any City Council member or officer or employee <br />thereof is named or referred to, such reference shall be deemed to include the successor to the <br />powers, duties and functions, with respect to the management, administration and control of the <br />affairs of the Agency, that are presently vested in the Agency or such City Council member, <br />officer or employee, and all the agreements, covenants and provisions contained in the Indenture <br />by or on behalf of the Agency or any City Council member, officer or employee thereof shall <br />bind and inure to the benefit of the respective successors thereof whether so expressed or not. <br />Section 12.06 Execution of Documents by Owners. Any request, declaration or other <br />instrument which the Indenture may require or permit to be executed by Owners may be in one <br />or more instruments of similar tenor, and shall be executed by Owners in person or by their <br />attorneys appointed in writing. <br />Except as otherwise herein expressly provided, the fact and date of the execution by any <br />Owner or his attorney of such request, declaration or other instrument, or of such writing <br />appointing such attorney, may be proved by the certificate of any notary public or other officer <br />authorized to take acknowledgments of deeds to be recorded in the state or territory in which he <br />purports to act, that the person signing such request, declaration or other instrument or writing <br />acknowledged to him the execution thereof, or by an affidavit of -a witness of such execution, <br />duly sworn to before such notary public or other officer. <br />The Trustee may nevertheless in its discretion require further or other proof in cases <br />where it deems the same desirable. The ownership of registered Bonds and the amount, <br />4150-2542-54203 56 <br />40990-25 <br />SA -3-74 <br />
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