82-051 - Laserfiche WebLink

Home Browse Search

similar tenor, and shall be executed by an officer of the Bank or by its attorneys appointed in writing. Except as otherwise herein expressly provided the ownership of the Note and the amount, number and date of holding the same shall be proved by the registry books. Section 8.05. Waiver of Personal Liability. No member, officer, agent or employee of the City shall be individually or personally liable for the paj~nent of the principal of or interest on the Note; but nothing herein contained shall relieve any such member, officer, agent or employee from the performance of any official duty provided by law. Section 8.06. Publication for Successive Weeks. Any publication to be made under the provisions of this Resolution in successive weeks may be made in each instance upon any business day of the week and need not be made on the same day of any succeeding week or in the same newspaper for any or all of the successive publications, but may be made on different days of the week and in different newspapers. Section 8.07. Destruction of Cancelled Note. Whenever in this Resolution provision is made for the surrender to the City of the Note which has been paid or cancelled pursuant to the provisions of this Resolution, a certificate of destruction duly executed by the Sank shall be deemed to be the equivalent of the surrender of such cancelled Note and the City shall be entitled to rely upon any statement of fact contained in any certificate with respect to the destruction of the Note therein referred to. Section 8.08. Notice and Demands on City. Any notice or demand which by any provision of this Resolution is required or permitted to be given or served to or on the City may be given or served by being deposited postage prepaid in a post office letter box addressed {until another address is filed by the City with the Bank} as follows: City Manager, City of Santa Aha, 20 Civic Center Plaza, Santa Ana, California g2701. Section 8.09. Partial Invalidity. If any Section, paragraph, sentence, clause or phrase of this Resolution shall for any reason be held illegal or unenforceable, such holding shall not affect the validity of the remaining portions of this Resolution. The City hereby declares that it would have adopted this Resolution and each and every other Section, paragraph, sentence, clause or phrase hereof and authorized the issue of the Note pursuant thereto irrespective of the fact that any one or more Sections, paragraphs, sentences, clauses or phrases of this Resolution may be held illegal, invalid or unenforceable. If, by reason of the judgment of any court, the Bank is rendered unable to perform its duties hereunder, all such duties and all of the rights and powers of the Bank hereunder shall be assumed by and vest in the Treasurer in trust for the benefit of the Bank. The City covenants for the direct benefit of the Bank that its Treasurer in such case shall be vested with all of the rights and powers of the Bank hereunder, and shall assume all of the responsibilities and perform all of the duties of the Bank hereunder, in trust for the benefit of the Bank. 2O