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10B Action 2014 0616
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10B Action 2014 0616
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6/30/2014 10:00:25 AM
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6/11/2014 10:56:24 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
6/16/2014
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PowerPoint 10B Action 2014 0616 Tax Allocation Bonds
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\City Clerk\City Council\Agenda Packets\2014\Packet 2014 0616
SA Reso 2014-002
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Path:
\City Clerk\City Council\Resolutions\2014
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-49- <br />all of the Bonds then Outstanding, the Trustee shall be authorized to take such actions and <br />execute and deliver to the Successor Agencyall such instruments as may be necessary or <br />desirable to evidence such discharge, including, without limitation, selection by lot of Bonds of <br />any maturity of the Bonds that the Successor Agencyhas determined to pay and discharge in <br />part. <br />In the case of a defeasance or payment of all of the Bonds Outstanding, any funds <br />thereafter held by the Trustee which are not required for said purpose or for payment of <br />amounts due the Trustee pursuant to Section 6.06 shall be paid over to the Successor Agency <br />for deposit in the Redevelopment Obligation Retirement Fund. <br />Section 9.04. Execution of Documents and Proof of Ownership by Owners. Any request, <br />consent, declaration or other instrument which this Indenture may require or permit to be <br />executed by any Owner may be in one or more instruments of similar tenor, and shall be <br />executed by such Owner in person or by their attorneys appointed in writing. <br />Except as otherwise herein expressly provided, thefact and date of the execution by any <br />Owner or his attorney of such request, declaration or other instrument, or of such writing <br />appointing such attorney, may be proved by the certificate of any notary public or other officer <br />authorized to take acknowledgments of deeds to be recorded in the state in which he purports <br />to act, that the person signing such request, declaration or other instrument or writing <br />acknowledged to him the execution thereof, or by an affidavit of a witness of such execution, <br />duly sworn to before such notary public or other officer. <br />The ownership of Bonds and the amount, maturity, number and date of ownership <br />thereof shall be proved by the Registration Books. <br />Any demand, request, direction, consent, declaration or other instrument or writing of the <br />Owner of any Bond shall bind all future Owners of such Bond in respect of anything done or <br />suffered to be done by the Successor Agencyor the Trustee and in accordance therewith, <br />provided, however, that the Trustee shall not be deemed to have knowledge that any Bond is <br />owned by or for the account of the Successor Agencyunless the Successor Agencyis the <br />registered Owner or the Trustee has received written notice that any other registered Owner is <br />such an affiliate. <br />Section 9.05. Disqualified Bonds. In determining whether the Owners of the requisite <br />aggregate principal amount of Bonds have concurred in any demand, request, direction, <br />consent or waiver under this Indenture, Bonds which are owned or held by or for the account of <br />the Successor Agencyor the City (but excluding Bonds held in any employees' retirement fund) <br />shall be disregarded and deemed not to be Outstanding for the purpose of any such <br />determination. <br />Section 9.06. Waiver of Personal Liability. No member, officer, agent or employee of the <br />Successor Agencyshall be individually or personally liable for the payment of the principal of or <br />interest on the Bonds; but nothing herein contained shall relieve any such member, officer, <br />agent or employee from the performance of any official duty provided by law. <br />Section 9.07. Destruction of Cancelled Bonds. Whenever in this Indenture provision is <br />made for the surrender to the Trustee of any Bonds which have been paid or cancelled pursuant <br />to the provisions of this Indenture, the Trustee shall destroy such bonds and upon request of the <br />Successor Agencyprovide the Successor Agencya certificate of destruction. The Successor
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