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7/17/2007 8:38:58 AM
Creation date
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Roseville City Council
Document Type
Council Resolutions
Resolution #
9525
Resolution Title
Accepting bid on sale of $13,280,000 General Obligation Tax Increment Refunding Bonds, Series, 1998, providing for their issuance and pledging for the security thereof tax increments (2/23/98).
Resolution Date Passed
2/23/1998
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<br />in any integral multiple thereof of a single maturity (the <br />"Authorized Denominations"). The Bonds shall mature on March 1 <br />in the years and amounts as follows: <br /> <br />Year Amount Year Amount <br />2000 $1,675,000 2004 $1,965,000 <br />2001 1,745,000 2005 2,050,000 <br />2002 1,815,000 2006 2,140,000 <br />2003 1,890,000 <br /> <br />(b) Book Entry Only System. The Depository Trust <br />Company, a limited purpose trust company organized under the laws <br />of the State of New York or any of its successors or its <br />successors to its functions hereunder (the "Depository") will act <br />as securities depository for the Bonds, and to this end: <br /> <br />(i) The Bonds shall be initially issued and, so long <br />as they remain in book entry form only (the "Book Entry Only <br />Period"), shall at all times be in the form of a separate <br />single fully registered Bond for each maturity of the Bonds¡ <br />and for purposes of complying with this requirement under <br />paragraphs 5 and 10 Authorized Denominations for any Bond <br />shall be deemed to be limited during the Book Entry Only <br />Period to the outstanding principal amount of that Bond. <br /> <br />(ii) Upon initial issuance, ownership of the Bonds <br />shall be registered in a bond register maintained by the <br />Bond Registrar (as hereinafter defined) in the name of CEDE <br />& CO., as the nominee (it or any nominee of the existing or <br />a successor Depository, the "Nominee"). <br /> <br />(iii) With respect to the Bonds neither the City nor <br />the Bond Registrar shall have any responsibility or <br />obligation to any broker, dealer, bank, or any other <br />financial institution for which the Depository holds Bonds <br />as securities depository (the "Participant") or the person <br />for which a Participant holds an interest in the Bonds shown <br />on the books and records of the Participant (the "Beneficial <br />Owner"). Without limiting the immediately preceding <br />sentence, neither the City, nor the Bond Registrar, shall <br />have any such responsibility or obligation with respect to <br />(A) the accuracy of the records of the Depository, the <br />Nominee or any Participant with respect to any ownership <br />interest in the Bonds, or (B) the delivery to any <br />Participant, any Owner or any other person, other than the <br />Depository, of any notice with respect to the Bonds, <br />including any notice of redemption, or (C) the payrrLent to <br />any Participant, any Beneficial Owner or any other person, <br />other than the Depository, of any amount with respect to the <br /> <br />906107.01 <br /> <br />4 <br />
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