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2023-004
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Last modified
2/10/2023 3:19:54 PM
Creation date
2/10/2023 3:13:36 PM
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Resolutions
Resolution Number
2023-004
Approved Date
01/31/2023
Agenda Item Number
8.N.
Resolution Type
General Obligation Bond
Subject
General Obligation Bonds issuance $50,000,000 to finance cost of acquiring
& preserving environmentally sensitive lands
Document Relationships
2024-023
(Cover Page)
Path:
\Resolutions\2020's\2024
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after the date of the adoption of this Resolution, notwithstanding that either or both shall have <br />ceased to hold such office at the time the Bonds shall be actually sold and delivered. <br />SECTION 2.03. AUTHENTICATION. No Bond of any Series shall be secured <br />hereunder or entitled to the benefit hereof or shall be valid or obligatory for any purpose unless <br />there shall be manually endorsed on such Bond a certificate of authentication by the Registrar or <br />such other entity as may be approved by the Issuer for such purpose. Such certificate on any Bond <br />shall be conclusive evidence that such Bond has been duly authenticated and delivered under this <br />Resolution. The form of such certificate shall be substantially in the form provided in Section 2.07 <br />hereof. <br />SECTION 2.04. TEMPORARY BONDS. Until the definitive Bonds are prepared, <br />the Issuer may execute, in the same manner as is provided in Section 2.02 hereof, and deliver, <br />upon authentication by the Registrar pursuant to Section 2.03 hereof, in lieu of definitive Bonds, <br />but subject to the same provisions, limitations and conditions as the definitive Bonds, except as to <br />the denominations thereof, one or more temporary Bonds substantially of the tenor of the definitive <br />Bonds in lieu of which such temporary Bond or Bonds are issued, in denominations authorized by <br />the Issuer by Supplemental Resolution, and with such omissions, insertions and variations as may <br />be appropriate to temporary Bonds. The Issuer, at its own expense, shall prepare and execute <br />definitive Bonds, which shall be authenticated by the Registrar. Upon the surrender of such <br />temporary Bonds for exchange, the Registrar, without charge to the Holder thereof, shall deliver <br />in exchange therefor definitive Bonds, of the same aggregate principal amount and maturity as the <br />temporary Bonds surrendered. Until so exchanged, the temporary Bonds shall in all respects be <br />entitled to the same benefits and security as definitive Bonds issued pursuant to this Resolution. <br />All temporary Bonds surrendered in exchange for another temporary Bond or Bonds or for a <br />definitive Bond or Bonds shall be forthwith cancelled by the Registrar. <br />SECTION 2.05. BONDS MUTILATED, DESTROYED, STOLEN OR LOST. In <br />case any Bond shall become mutilated, or be destroyed, stolen or lost, the Issuer may, in its <br />discretion, issue and deliver, and the Registrar shall authenticate, a new Bond of like tenor as the <br />Bond so mutilated, destroyed, stolen or lost, in exchange and substitution for such mutilated Bond <br />upon surrender and cancellation of such mutilated Bond or in lieu of and substitution for the Bond <br />destroyed, stolen or lost, and upon the Holder furnishing the Issuer and the Registrar proof of his <br />ownership thereof and satisfactory indemnity and complying with such other reasonable <br />regulations and conditions as the Issuer or the Registrar may prescribe and paying such expenses <br />as the Issuer and the Registrar may incur. All Bonds so surrendered or otherwise substituted shall <br />be cancelled by the Registrar. If any of the Bonds shall have matured or be about to mature, instead <br />of issuing a substitute Bond, the Issuer may pay the same or cause the Bond to be paid, upon being <br />indemnified as aforesaid, and if such Bonds be lost, stolen or destroyed, without surrender thereof. <br />Any such duplicate Bonds issued pursuant to this Section 2.05 shall constitute original <br />contractual obligations on the part of the Issuer whether or not the lost, stolen or destroyed Bond <br />be at any time found by anyone, and such duplicate Bond shall be entitled to equal and <br />proportionate benefits and rights provided hereunder to the same extent as all other Bonds issued <br />hereunder. <br />10 <br />
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