1985-036 - Laserfiche WebLink

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C 40 of other than ad valorem taxation and legally available for such purpose, to the extent the Assessments are ever insufficient therefor, all as provided in the Resolution. The Assessment liens upon benefited property may be released upon deposit with the County of other adequate security, all as more particularly described and provided in the Resolution. It is expressly agreed by the registered owner of this bond that such registered owner shall never have the right to require or compel the exercise of the ad valorem taxing power of the County for the payment of the principal of and interest on this bond or the making of any other payments specified by the Resolution. It is further agreed betweer the County and the registered owner of this bond that this bond and the obligation evidenced thereby shall not constitute a lien upon any other pro- perty of or in the County, but shall constitute a lien only upon the Assessments in the manner provided in the Resolution. (To be inserted where appropriate on face of bond: "Reference is hereby made to the further provisions of this bond set forth on the reverse side hereof, and such further provisions shall for all purposes have the same effect as if set forth on this side.") This bond may be transferred only upon the books of the County kept by the Bond Registrar upon surrender thereof at the principal office of the Bond Registrar with an assignment duly executed by the registered owner or his duly authorized attorney, but only in the manner, subject to the limitations and upon payment of the charges, if any, provided in the Resolution, and upon surrender and cancellation of this bond. Upon any such transfer, there shall be executed and the Bond Registrar shall deliver, a new fully registered bond or bonds, payable to the transferee, in authorized denominations and in the same aggregate principal amount, series, maturity and interest rate as this bond. In like manner, subject to and upon the payment of such -14-