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Last modified
7/17/2007 8:39:37 AM
Creation date
12/2/2004 10:04:38 AM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
9627
Resolution Title
Accepting bid on sale of $2,500,000 General Obligation Improvement Bonds, Series 25, providing for their issuance, and pledging for the security thereof special assessments, and levying a tax for the payment thereof
Resolution Date Passed
1/25/1999
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<br />give the Depository notice of such <br />special record date not less than 15 <br />calendar days in advance of such special <br />record date to the extent possible. <br /> <br />(ix) Any successor Bond Registrar in its written <br />acceptance of its duties under this <br />Resolution and any paying agency/bond <br />registrar agreement, shall agree to take any <br />actions necessary from time to time to comply <br />with the requirements of the Letter of <br />Representations. <br /> <br />(x) In the case of a partial prepayment of a <br />Bond, the Holder may, in lieu of surrendering <br />the Bonds for a Bond of a lesser denomination <br />as provided in paragraph 5 hereof, make a <br />notation of the reduction in principal amount <br />on the panel provided on the Bond stating the <br />amount so redeemed. <br /> <br />(c) Termination of Book-Entry Only System. <br />Discontinuance of a particular Depository's <br />services and termination of the book-entry only <br />system may be effected as follows: <br /> <br />(i) The Depository may determine to discontinue <br />providing its services with respect to the <br />Bonds at any time by giving written notice to <br />the City and discharging its responsibilities <br />with respect thereto under applicable law. <br />The City may terminate the services of the <br />Depository with respect to the Bond if it <br />determines that the Depository is no longer <br />able to carry out Its functions as securities <br />depository or the continuation of the system <br />of book-entry transfers through the <br />Depository is not in the best interests of <br />the City or the Beneficial Owners. <br /> <br />(ii) Upon termination of the services of the <br />Depository as provided in the preceding <br />paragraph, and if no substitute securities <br />depository is willing to undertake the <br />functions of the Depository hereunder can be <br />found which, in the opinion of the City, is <br />willing and able to assume such functions <br />upon reasonable or customary terms, or if the <br />City determines that it is in the best <br />interests of the City or the Beneficial <br />Owners of the Bond that the Beneficial Owners <br />be able to obtain certificates for the Bonds, <br />the Bonds shall no longer be registered as <br />being registered in the bond register in the <br />name of the Nominee, but may be registered in <br /> <br />1006009.1 6 <br />
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