HomeMy WebLinkAbout91-056
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RESOLUTION NO. 91-56
RESOLUTION PROVIDING FOR 'rHE ISSUANCE AND SALE OF $1,187,000
AGGREGATE PRINCIPAL AMOUNT OF TOPOCK ELEMENTARY SCHOOL DISTRICT
NO. 12 OF MOHAVE COUNTY, ARIZONA, SCHOOL IMPROVEMENT BONDS,
PROJECT OF 1990; PROVIDING FOR THE ANNUAL LEVY OF A TAX FOR THE
PAYMENT OF THE BONDS; ACCEPTING A PROPOSAL FOR THE PURCHASE OF
THE BONDS; AND PRESCRIBING TERMS AND PROVISIONS AND APPOINTING A
REGISTRAR }l~ND PAYING AGENT WITH RESPECT TO THE BONDS.
WHEREAS, by the vote of a majority of the qualified E!lectors
of Topock Elementary Sc:hool District No. 12 of Mohave County,
Arizona (the "District") voting at a special bond election held
in and for the Distric-t on November 6, 1990, the issuance of
$1,187,000 School Improvement Bonds, Project 1990, of the
District has been authorized; and
WHEREAS, pursuant 1;0 "the request of the Governing Board of
the District, $1,187,000 in an aggregate principal amount of such
school improvement bonds are to be issued and sold at this time;
NOW, ~rHEREFORE, IT IS RESOLVED BY THE BOARD OF SUPERVISORS
OF MOHAVE COUNTY, ARIZONA, AS FOLLOWS:
SectiQD-1. Authoriza1~ion. There is hereby authorizEld to be
issued and sold an issue of bonds of the District in an aggregate
principal of $1,187,000. The bonds so authorized shall be
designated Topock Elementary School District No. 12 of Mohave
County, Arizona, School Improvement Bonds, Project of 1990 (the
"Bonds" ), and shall be i.ssued and sold as directed by thi.s Board
in accordance with the provisions of applicable laws.
Section 2. Terms. 'Jlhe Bonds will be dated March 1, 1991,
and will bear interest from their date to the maturity of each of
the Bonds at the rates set forth in the winning bid, a copy of
which is attached hereto. Interest on the Bonds will be payable
on January 1, 1991, and semiannually thereafter on each
succeeding July 1 and ~Janl1ary 1 during the term of the Bonds.
The Bonds shall be in the denomina1:ion of $1,000 each or integral
multiples thereof, and shall be in fully registered form. The
Bonds will mature on July 1 in the years 1992 to 2009, inclusive,
as follows:
I Maturity Date Principal Ivtaturi ty Date Principal
(July 1) _AI1lQ~_ILt~ (July 1) Amount
1992 $ 12,000 2001 $ 65,000
1993 60,000 2002 70,000
1994 35,000 2003 75,000
1995 40,000 2004 80,000
1996 45,000 2005 85,000
1997 45,000 2006 90,000
1998 50,000 2007 100,000
1999 55,000 2008 105,000
2000 60,000 2009 115,000
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The Bonds shall have such additional terms and provisions as
are set forth in the Notice Inviting Proposals for the Purchase
of Bonds and the best proposal received in response thereto and
in the form of Bond at-tached as Exhibit A, which is a part of
this resolution.
Section 3. Prior R:ede~mption.
A. Redemption. Bonds maturing on or before July l, 2001,
are not subject to call for redemption prior to maturity. Bonds
maturing on or after .July 1, 2002, are subj ect to call for
redemption prior to ma1:ur:L ty, in whole or in part on July 1,
2001, or any interest payment da-te thereafter by payment of a
redemption price equal to the principal amount of each Bond
called for redemption plus accrued interest to the date fixed for
redemption and without a premium.
SecticLr:L..A. Notice. Notice of redemption of any Bond will
be mailed not more than sixty (60) nor less than thirty (30) days
prior to the date set for redemption to the registered owner of
the Bond or Bonds being redeemed a"t the address shown on the bond
register maintained by .the, registrar. Failure to properly give
notice of redemption shall not affect the redemption of any Bond
for which notice was properly given.
A. Effect of Call for Redemption. On the date designated
for redemp"tion by noticl:~ given as herein provided, the Bonds so
called for redemption shall become and be due and payable at the
redemption price provided for redemption of such Bonds on such
date, and, if moneys for payment of the redemption price are held
in separate accounts by the paying agent, interest on such Bonds
or portions of Bonds so called for redemption shall cease to
accrue, such Bonds shall Claase to be entitled to any benefit or
securi ty hereunder and thl=~ owners of such Bonds shall have no
rights in respect thereof excep"t to receive payment of the
redemption price thereof and such Bonds shall be deemed paid and
no longer outstanding.
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B. RE~demption of r.es~; Than AJ1 of a Bond. The District may
redeem an amount which is included in a Bond in the denomination
in excess of, but divisible by, $5,000. In that event, the
registered owner shall submit the Bond for partial redemption and
the payin!;1 agent shall make such partial payment and the
Registrar shall cause 1t:o be issued a new Bond in a principal
amount which reflects the redemption so made to be authenticated
and delivered to the regrist:ered owner thereof.
Section 5. SecUl[;ltx. For the purpose of paying the
principal of and interest on the Bonds and costs of
administra-tion of the re~gistration and payment of the Bonds there
shall be levied on all the taxable property in the District a
continuing, direct, annual, ad valorem tax sufficient to pay all
such principal, interest: and administration costs on the Bonds as
the same becomes due, such taxes to be levied, assessed and
collected at the same time and in the same manner as other taxes
are levied, assessed and collected. The proceeds of the taxes
shall be kept in a special fund enoti t1ed the Debt Service Fund of
the District and shall be used only for the payment of principal,
interest and administrat:ion costs as above-stated.
SectiQ_ILQ. Use of_.p.xJ~lceeds. The net proceeds from "the sale
of the Bonds, after payment: of the expenses of issuance, shall be
set aside and deposited by the County Treasurer in a separate
fund entitled the Building Fund of the District. Subject to the
provisions of Section 13 hereof, this resolution shall be
construed as consent of the Board of Supervisors to invest such
funds, pending use, in any of the securities allowed by A.R.S.
Section 15-1025. This resolution shall constitute a continuing
consent to such investmEmt and no further annual consent need be
given; provided, however, that this Board may revoke such consent
for any fiscal year after fiscal year 1990-91. The proceeds of
the Bonds shall be expended only for the purpose set forth in the
ballot used at the special bond election wherein issuancE~ of the
Bonds was approved.
All moneys deposited to the debt service fund of the
District may be inves1t:ed in thl~ same manner as the Topock
Elementary School District No. 12 of Mohave County, l\rizona,
School Improvement bonds, Project of 1990 Building Fund Cind this
resolution shall be construed to be a consent to such
investments and shall also be cons"trued to be continuing.
Section 7. Form of ~onds. Pursuant to A.R.S. Sec1:ion 35-
491, a fully registered bond form is adopted as an alternative to
the form of bond providE~d in .l\.R.S. Section 15-1023. A
registrar and paying agent will be appointed for the
administration of the Bonds. The Bonds shall be in substantially
the form of Exhibi t ,.,~, attached hereto and incorporated by
referenced herein, with such necessary and appropriate omissions,
insertions and variations as are permitted or required hereby or
by the Notice Inviting Proposals for the Purchase of Bonds and
are approved by those officers executing the Bonds. Execution of
the Bonds by such officers shall constitute conclusive evidence
of such approval.
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Section 7. Form QL1~onds. Pursuant to A.R.S. Sect:ion 35-
491, a fully registered bond form is adopted as an alternative to
the form of bond provided :i.n A. R. S. Section 15-1023. A registrar
and paying agent will bE~ appointed for the administration of the
Bonds. The Bonds shall be in substantially the form of Exhibit
~, attached hereto and incorporated by reference herein, with
such necessary and appropriate. omissions, insertions and
variations as are permi-tted or required hereby or by the~ Notice
Invi ting Proposals for 1:he Purchase of Bonds and are approved by
those officers executin9 1:he Bonds. Execution of the Bonds by
such officers shall constitute conclusive evidence of such
approval.
The Bonds may have notations, legends or endorsements
required by law, securities exchange rule or usage. Each Bond
shall show' both the date of the: issue and the date of such
Boned's authentication and registration.
The Bonds are prohibited from being converted to coupon or
bearer Bonds wi thout thE~ consent of the Board of Supervisors and
approval of bond counsel.
Section 8. Execution of Bond!~. The Bonds shall be executed
for and on behalf of the District by the President and attested
by the Clerk of the Governing Board and countersigned by the
Chairman of the Board of Supervisors of this County. An~r or all
of such signatures may be manual or by facsimile or mechanical
reproduction; however, i.f such signatures are by facsimile, such
officers shall manually sign a certificate adopting as and for
their signatures on 1:he Bonds the respecti ve mechanically
reproduced signatures affb:ed to the Bonds. Notwi thstanding any
provision of this section, no Bond shall ever bind the District
until it has been manually authenticated by the registrar.
If an officer whosE~ signature~ is on a bond no longe~r holds
that office at the time the Bond is authenticated and registered,
the Bond shall nevertheless be valid.
A Bond shall not bE~ valid or binding until authenticated by
the manual signature of an authorized representative of the
registrar. The signature of the authorized representative of the
registrar shall be conclusive evi.dence that the Bond has been
authenticated and issued under this resolution.
Section 9. Mutilated.... Lost or Destroyed Bonds. In case any
Bond becomes mutilated or destroyed or lost, the District shall
cause to be executed and delivered a new Bond of like date and
tenor in exchange and substitution for and upon the cancellation
of such mutilated Bond or in lieu of and in substitution for such
Bond destroyed or lost, upon the registered owner's paying the
reasonable expenses and charges of the District in connection
therewith and, in the case of the Bond destroyed or lost, filing
wi th the County Treasurer by the registered owner E~vidence
satisfactory to the Treasurer that such Bond was destroyed or
lost, and furnishing t:he County Treasurer with a sufficient
indemnity bond pursuan-t to Section 47-8405, Arizona Revised
Statutes.
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Section 10. ACQ!;~tJ;mce of Proposal. The proposal of
Valley National Bank for the purchase
of the Bonds is hereby accElpted and the Bonds are hereby ordered
sold to such purchaser in accordance with the terms of such
proposal and the terms and conditions of the Notice Inviting
Proposals for the Purchase of Bonds. Such proposal shall be in
accordance with the winning bid, a copy of which is attached
hereto and incorporated herein.
The County TreasurE~r is hereby authorized and directed to
cause the Bonds to be dEllivered to the purchaser upon receipt of
payment thBrefore and satisfaction of the other conditions for
delivery thereof in accordance with the terms of the sale.
Section 11. Regi~j;;l~ar. The District will maintain an
office or agency where Bonds may bE~ presented for registration of
transfer (the "Registrar") and an office or agency where Bonds
may be presented for payment (the "Paying Agent"). The District
may appoin1: one or more additional Paying Agents. The Registrar
and Paying Agent may make reasonable rules and set reasonable
requirements for their respective functions with respect to the
owners of t:he Bonds.
Ini tially, the Valley National Bank of Arizona, Phoenix,
Arizona, is appointed to act as Registrar and Paying Agent with
respect to the Bonds. 'rhe District may change the Registrar or
Paying Agent wi thout noticE~ to or consent of owners of th.e Bonds
and the District may act in any such capacity.
The Registrar's fee payment a!;rreement between the County and
the District is hereby approved in substantially the form on file
wi th the Clerk, to provide for the payment of the costs of
registration and printing of the Bonds. The contract for
Registrar's services is her1eby approved in substantially t:he form
on file wi 1:h the Clerk t:o provide for the payment of Registrar's
services. Upon full eJeecution of the Registrar's fee payment
agreement, the Chairman of this Board and the Treasurer are
hereby aut:horized and directed to execute and deliver the
contract and the Clerk of this Board may attest the signatures of
either or both of such officials.
Each paying agent shall be required to agree in writing that
the Paying Agent will hold in trust: for the benefit of the owners
of the Bonds all money held by thE~ Paying Agent for the payment
of principal of and interest on the Bonds.
The Registrar may appoint an authenticating agent acceptable
to the District to authBnticate Bonds. An authenticating agent
may authenticate Bonds whenever the Registrar may do so. Each
reference i.n this resolution to authentication by the Registrar
includes authentication by an authenticating agent ac1:ing on
behalf and in the name~ of the Registrar and subject to the
Registrar's direction.
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The Registrar shall keep a register of the Bonds, the
registered owners of the Bonds and of transfer of the Bonds.
When Bonds are presented to the Registrar or a co-registrar with
a request to register transfer, the Registrar shall register the
transfer on the regis1:ra1:ion books if its requirements for
transfer are met and shall authen1:icate and deliver one or more
Bonds registered in the name of the transferee of the same
principal amount, maturi"ty and rate of interest as the
surrendered Bonds. The "Rl:!Cord Date" for the Bonds shall be the
close of business of the Registrar on the fifteenth day of the
month prece~ding an interest: paymen1: date. Bonds presented to the
Registrar for transfer after the close of business on the Record
Date and before the close of business on the next subsequent
interest payment date 'o\1i11 be registered in the name of the
transferee but the intere:st payment (except interest paid at
maturity or upon prior redemption) will be made payable to and
mailed to the registered owners shown on the books of the
Registrar as of the close of busi.ness on the respective Record
Date.
The Registrar shall authenticate Bonds for original issue up
to $1,187,000 in aggre!;}at:1e principal amount upon the written
request of the County Tre~asurer. The Registrar shall keep a
register of the Bonds and of their transfer. The aggregate
principal amount of Bonds outstanding at any time may not: exceed
that amount except for replacement Bonds as to which the
requirements of the Registrar and the District are met.
Secticm.-.l2. Resoluti,pn a Coptract. This resolution shall
consti tute a contract hetvi7een the District and the registered
owners of "the Bonds and shall not be repealed or amended in any
manner which would impair" impede or lessen the rights of the
registered owners of the Bonds then outstanding.
Section 13. Ta~__--..c.pvenants!. In consideration of the
purchase and acceptance of the Bonds by the owners there:of and,
as authorized by Arizona ~evised Statutes, Title 35, Chapter 3,
Article 7, and in consideration of retaining the exclusion of
interest income on the Bonds from 9ross income for federal income
tax purposBs, the County covenants with the owners from time to
time of the Bonds to nl=i ther take nor fail to take any action
which action of failure to act is within its power and authority
and would result in interest incomE~ on the Bonds becoming subj ect
to inclusion as gross income for federal income tax purposes
under eithBr laws existing on the date of issuance of the Bonds
or such la\l1S as they may be modifiE~d or amended.
The County agree,s that it will comply wi th such
requirement: ( s) and will take any such action( s) as in the opinion
of Gust, Rosenfeld & Henderson ("bond counsel") are necessary to
prevent interest income on the Bonds becoming subject to
inclusion in gross income for federal income tax purposes. Such
requirements may includB but are not limited to making further
specific covenants; making truthful certifications and
representations and giving necessary assurances; complying with
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all representations, COVI::mants and assurances contained in
certificate~s or agreements to be prepared by bond counsel; to pay
to the United State of lUnerica any required amounts representing
rebates of statements and supporting documents as may be required
under the federal tax laws; limi t:ing the term of and yield on
investments made with moneys relating to the Bonds; and limiting
the use of the proceeds of the Bonds and property financed
thereby.
Section 14. Designation 0:1;' Obligations. The Board of
Supervisors hereby desigrnat:es the Bonds as "qualified tax-exempt
obligations" for purpose of Section 265 (b) (3) of the Internal
Revenue Code of 1986, .as amended (the "Code"). The Board of
Supervisors hereby certi.fiE~s that it reasonably anticipat:es that
the aggregate amount of qualifie~d tax-exempt obligations (as
defined in Section 265(b)(3)(B) of the Code) which will be issued
for or by the District (including all subordinate Emti ties
thereof) in calendar year 1991 will not exceed $10,000,000.
Secti(ID~. Seve~rabili ty. If any section, paragraph,
subdivision, sentence, clause or phrase of this resolution is for
any reason held to be illegal or unenforceable, such decision
will not affect the validity of the remaining portions of this
resolution.. The Board of Supervisors hereby declares that it
would have. adopted this resoluti.on and each and every other
section, paragraph, subdivision, sentence, clause or phrase
hereof and authorized the issuance of the Bonds pursuant hereto
irrespective of the fact that anyone or more sections,
paragraphs,. subdi visions sentences, clauses or phrases of this
resolution may be held illegal, invalid or unenforceable.
Section 16. Rati_:ti..Q.f~tion of Actions. All actions of the
officers and agents of the District, the County or the Board of
Supervisors which conform to the purposes and intent of this
resolution and which furthl~r the issuance and sale of the Bonds
as contemplated by this resolution whether heretofore or
hereafter 1:aken are hereby ratified, confirmed and approved. Any
changes made in the Notice Invitin9 Proposals for the Purchase of
Bonds which do not conform to the prior order of this Board and
are hereby ratified. The proper officers and agents of the
District and the County are hereby authorized and directed to do
all such acts and things and to execute and deliver all such
documents on behalf of t:he District as may be necessary t:o carry
out the terms and intent of this resolution.
PASSED, ADOPTED AND APPROVED by the Board of Supervisors of
Mohave County, Arizona" on February 4, 1991.
..'"'' "'" MOHAVE COUNT BOARD OF SUPERVISORS
" \ ", " . ) r-.," II,,,,,
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/:',.< r~~,,/'~:,~~~ 4c:,:.,.~_ ~~~:.;, J 41.d1c~
: C.J b..".~~~~.(,G~~~'~~~ ?,,:~LOIS J.,~), CHAIRMAN
:. r;7-;n~y I.t,i({' ~:
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ATr~~'I\:~ ' ,'. '. .-!~'.. Pl{l.t~_-;~~,,~ v~
'.' .. \; ':..., ~:a7n, Clerk
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sds000761 BMC:jmd 012891.1
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EXHIBI'l~ A
(race of Bond)
TOPOCK ELEMENTARY SCHOOL DISTRICT NO. 12
OF MORAVE COUNTY, I~IZONA
SCHOOr. IMPROVEMENT BOND
PROJECT Ol~ 1990
Number:
Denomination:
$
Interest
Rate
Maturity
Date
Original
Issue Date
CUSIP
%
March 1, 1991
Registered Owner:
principal Amount:
DOLLARS
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TOPOCK ELEMEN'I'J~RY SCHOOL DISTRICT NO. 12 OF HOHAVE
COUNTY, ARIZONA, for value recei.ved, hereby promises to pay
to the registered owner identified above, or registered
assigns as provided herein, on the maturity date set forth
above, the principal amount set forth above, and to pay
interest on the unpaid principal amount at the interest rate
shown above.
Certain bonds of the issue of which this bond is
one are subject to call for redemption prior to maturity in
accordance with the terms set forth on the reverse of this
bond.
Interest is payable on January 1 and July 1 of
each year commencing January 1, 1992, and will accrue Erom
the most recent date to which interest has been paid, or, if
no interest has been paid, from the original issue date set
forth above. Interest will be computed on the basis of a
year comprised of 360 days consisting of twelve (12) months
of thirty (30) days each.
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Principal and interest are payable in lawful money
of the United States of America. Interest will be paid by
check payable in such money drawn on the paying agent and
payable to the order of and mailed to the registered owner
at the address shown on the registration books maintained by
the registrar at the close of business on the record date as
explained on the reverse hereof. Principal will be paid
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when due to the registered owner upon surrender of this bond
for payment at the designated office of the paying agent,
which on the original issue date is the principal corporate
trust office of The Valley National Bank of Arizona in
Phoenix, Arizona.
See the reverse side of this bond for additional
provisions.
It is hereby certified and recited that all
conditions, acts and things required by the Constitution and
laws of the State of Arizona to exist, to occur and to be
performed precedent to and in the issuance of this bond
exist, have occurr~d and have been performed and that the
issue of bonds of which this is one, together with all other
indebtedness of the District, is within every debt and other
limit prescribed by the Constitution and laws of the State
of Arizona, and that due provision has been made for the
levy and collection of a direct, annual, ad valorem tax upon
all of the taxable property in the District for the payment
of this bond and of the interest hereon as each becomes due.
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The District has caused this bond to be executed
by the President and attested by the Clerk of its Governing
Board and countersigned by the Chairman of the Board of
Supervisors of Mohave County, which signatures may be
facsimile signatures.
This bond is not valid or binding upon the
District without the manually affixed signature of an
authorized representative of the registrar.
TOPOCK ELEMENTARY SCHOOL
DISTRICT NO. 12 OF MORAVE
COUNTY, ARIZONA
President, Governing Board
AT~~EST :
Clerk, Governing Board
COUNTERSIGNED:
M';:~.. y/L;t/~~./f'
Chairman, ~oard of Supervisors
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DATE OF AUTHENTICATION AND REGISTRATION:
AUTHENTICATION CERTIFICATE
This bond is one of the Topock Elementary School
District No. 12 of Mohave County, Arizona, School Improve-
ment Bonds, Project of :990, described in the resolution
mentioned on the reverse hereof.
THE VALLEY NATIONAL BANK OF
ARIZONA, as Registrar
Authorized Representati0e
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(Form of Reverse Side of Bond)
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This bond is one of an issue of bonds in the
aggregate principal amount of $1,187,000 of like tenor
except as to amount, maturity date, rate of interest and
number, issued by the District to provide funds to make
those school improvements approved by a majority vote of
qualified electors voting at an election duly called and
held in and for the District, pursuant to a resolution of
the Board of Supervisors of Mohave County duly adopted prior
to the issuance hereof and pursuant to the Constitution and
laws of the State of Arizona relative to the issuance and
sale of school district improvement bonds, and all
amendments thereto, and all other laws of the State of
Arizona thereunto enabling.
For the punctual payment of this bond and the
interest hereon and for the levy and collection of ad
valorem taxes sufficient for that purpose, the full faith
and credit of the District are hereby irrevocably pledged.
Bonds maturing on or before July 1, 2001, are not
subject to call for redemption prior to maturity. Bonds
maturing on or after July 1, 2002, are subject to call for
redemption prior to maturity, in whole or in part on July 1,
2001, or any interest payment date thereafter by payment of
a redemption price equal to the principal amount of each
Bond called for redemption plus accrued interest to the date
fixed for redemption and without a premium.
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Notice of redemption of any bond will be mailed
not more than sixty (60) nor less than thirty (30) days
prior t:o the date set for redemption to the registered owner
of the bond or bonds being redeemed at the address shown on
the bond register maintained by the registrar.
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The registrar or paying agent may be changed by
the District without notice.
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This bond is transferable by the registered owner
in person or by attorney duly authorized in writing at the
designated office of the registrar upon surrender and
cancellation of this bond, but only in the manner and
subject to the limitation and upon payment of the charges
provided in the authorizing resolution. Upon such transfer
a new bond or bonds of the same aggregate principal amount,
maturity and interest rate will be issued to the transferee
in exchange. The registrar may require an owner, among
other things, to furnish appropriate endorsements and
transfer documents and to pay any taxes required by law.
The District has chosen the fifteenth day of the month
preceding an interest payment date as the record date for
this issue of bonds, unless such date is a Saturday, Sunday
or holiday, in which case the record date will be deemed to
be the previous business day. Should this bond be submitted
to the rE~gistrar for t.ransfer during the period commencing
after the close of business on the record date and
continuing to and including the next interest payment date,
ownership will be transferred in the normal manner but the
next interest payment will be made payable to and mailed to
the owner shown on the registrar's books at the close of
business on the record date.
The registrar may but need not register the
transfer of a bond which has been selected for redemption
and need not register the transfer of any bond for a period
of fifteen (15) days before a selection of bonds to be
redeemed; if the transfer of any bond which has been called
or selected for call for redemption in whole or in part is
registered, any notice of redemption which has been given to
the transferor will be binding upon the transferee and a
copy of the notice of redemption will be delivered to the
transferee along with the bond or bonds.
Bonds of this issue are issuable only in fully
registered form in the denomination of $5,000 each or
integral multiples thereof.
The District, the registrar and the paying agent
may treat the registered owner of this bond as the absolute
owner for the purpose of receiving principal and interest
and for all other purposes and none of them shall be
affected by any notice to the contrary.
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The following abbreviations, when used in the
inscription on the face of this bond, shall be construed as
though they were written out in full according to applicable
laws or regulations:
TEN COM-as tenants in common
TEN ENT-as tenants by the
entireties
JT TEN-as joint tenants with
right of survivorship
and not as tenants in
common
UNIF GIFT/TRANS MIN P..CT-
Custodian
(Cust) (Minor)
under Uniform Gifts/Transfers
to Minors Act
(Stat.e)
Additional abbreviations may also be used though not in list
above
(Form of Assignment)
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FOR VALUE RECEIVED the undersigned hereby sells,
assigns and transfers unto
(Name and ~ddress of Transferee)
the within bond and all rights thereunder, and hereby
irrevocably constitutes and appoints
, attorney to transfer the withi~ bond
on the books kept for-registration thereof, with full power
of substitution in the premises.
Dated
Note: The signature(s) on this
assignment must correspond with
the name(s) as written on the
face of the within registered
bond in every particular
without alteration or enlarge-
ment or any change whatsoever.
Signature Guaranteed:
Commercial bank, trust 60mpany
or member of a national
securities exchange
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ALL FEES AND TRANSFER COSTS SHA1:'L BE PAID BY THE TRANS:E'EROR
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