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55A - RESO - GAS TAX BONDS
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11/05/2019
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55A - RESO - GAS TAX BONDS
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Last modified
10/30/2019 12:55:49 PM
Creation date
10/30/2019 11:40:51 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
55A
Date
11/5/2019
Destruction Year
2024
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execution of any such request, consent or other instrument or of a writing appointing any such <br />agent, shall be sufficient for any purpose of this Indenture and shall be conclusive in favor of the <br />Trustee and of the City if made in the manner provided in this Section 9.05. <br />The fact and date of the execution by any person of any such request, consent or other <br />instrument or writing may be proved by the affidavit of a witness of such execution or by the <br />certificate of any notary public or other officer of any jurisdiction, authorized by the laws thereof <br />to take acknowledgments of deeds, certifying that the person signing such request, consent or <br />other instrument or writing acknowledged to him the execution thereof. <br />The ownership of Series 2019 Bonds shall be provided by the Bond Registration Books. <br />Any request, consent or vote of the Owner of any Series 2019 Bond shall bind every <br />future Owner of the same Series 2019 Bond and the Owner of any Series 2019 Bond issued in <br />exchange therefor or in lieu thereof, in respect of anything done or suffered to be done by the <br />Trustee or the City in pursuance of such request, consent or vote. <br />In lieu of obtaining any demand, request, direction, consent or waiver in writing, the <br />Trustee may call and hold a meeting of the Bond Owners upon such notice and in accordance <br />with such rules and obligations as the Trustee considers fair and reasonable for the purpose of <br />obtaining any such action. <br />SECTION 9.06 Waiver of Personal Liability. No officer, agent or employee of the City <br />shall be individually or personally liable for the payment of the interest on or principal of the <br />Series 2019 Bonds; but nothing herein contained shall relieve any such officer, agent or <br />employee from the performance of any official duty provided by law. <br />SECTION 9.07 Partial Invalidity. If any one or more of the covenants or agreements, or <br />portions thereof, provided in this Indenture on the part of the City (or of the Trustee) to be <br />performed should be contrary to law, then such covenant or covenants, such agreement or <br />agreements, or such portions thereof, shall be null and void and shall be deemed separable from <br />the remaining covenants and agreements or portions thereof and shall in no way affect the <br />validity of this Indenture or of the Series 2019 Bonds; but the Bond Owners shall retain all rights <br />and benefits accorded to them under the Bond Law or any other applicable provisions of law. <br />The City hereby declares that it would have entered into this Indenture and each and every other <br />section, paragraph, subdivision, sentence, clause and phrase hereof and would have authorized <br />the issuance of the Series 2019 Bonds pursuant hereto irrespective of the fact that any one or <br />more sections, paragraphs, subdivisions, sentences, clauses or phrases of this Indenture or the <br />application thereof to any person or circumstance may be held to be unconstitutional, <br />unenforceable or invalid. <br />SECTION 9.08 Destruction of Cancelled Series 2019 Bonds. Whenever in this Indenture <br />provision is made for the surrender to the City of any Series 2019 Bonds which have been paid <br />or cancelled pursuant to the provisions of this Indenture, the Trustee shall destroy such Series <br />2019 Bonds and furnish to the City a certificate of such destruction. <br />SECTION 9.09 Funds and Accounts. Any fund or account required by this Indenture to be <br />established and maintained by the City or the Trustee may be established and maintained in the <br />55394.00055\32329348.3 55 45_58 <br />
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