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1986-035
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1986-035
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Last modified
5/10/2023 12:47:16 PM
Creation date
5/10/2023 12:46:45 PM
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Resolutions
Resolution Number
1986-035
Approved Date
06/18/1986
Subject
Providing for acquisition & construction of additions, extension & improvements to the combined
water & sewer system of IRC; authorizing the issuance by such county of not exceeding
$9,200,000 water & sewer revenue bonds
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dw <br />i <br />0 <br />0• <br />, <br />2.04 Provisions for Redtrrption. The Bonds are subject to redemption <br />prior to maturity, at the option of the Issuer, as a whole, on any date, upon <br />payment of the outstanding principal amount thereof, together with accrued <br />interest to the date fixed for redemption. <br />The Issuer, at its option, frau time to time, on any interest payment <br />date, may redeem any part of the principal of the Bonds by payment of the amount <br />selected for such redemption, together with accrued interest on the amount <br />selected for such redemption to the redemption date. Each partial redemption <br />shall be applied against the installments of principal last (by date) due and <br />payable and no partial redemption shall postpone or interrupt payments of future <br />amortized installments which shall continue to be due and payable until payment <br />thereof in full. <br />2.05 Execution of Bonds. The Bonds shall be executed in the name of <br />the Issuer with the manual or facsimile signature of the Chairman and the <br />corporate seal of the Issuer shall be imprinted thereon, attested and <br />countersigned with the manual or facsimile signature of the Clerk; provided, <br />that the signature of one of such officers shall be manually executed thereon. <br />In case any one or more of the officers who shall have signed or sealed any of <br />the Bonds or whose facsimile signature shall appear thereon shall cease to be <br />such officer of the Issuer before the Bonds so signed and sealed have been <br />actually sold and delivered, such Bonds may nevertheless be sold and delivered <br />as herein provided and may be issued as if the person who signed or sealed such <br />Bonds had not ceased to hold such office. Any Bond may be signed and sealed on <br />behalf of the Issuer by such person who at the actual time of the execution of <br />such Bond shall hold the proper office of the Issuer, although at the date of <br />- 8 - <br />
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