HomeMy WebLinkAbout90-147
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RESOLUTION NO. 90-147
RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $5,000,000
AGGREGATE PRINCIPAL AMOUNT OF KINGMAN ELEMENTARY SCHOOL DISTRICT
NO. 4 OF MOHAVE COUNTY, ARIZONA, SCHOOL IMPROVEMENT BONDS,
PROJEC'I' OF 1986, SERIES 0 (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 AND PAYING AGENT WITH RESPECT TO THE
BONDS
WHEREAS, the Board of Supervisors met in Regular Session
this 4th day of June, 1990; and
WHEREAS, by the vote of a majority of the qualified electors
of Kingman Elementary School Distr ict No. 4 of Mohave County,
Arizona (the "District"), voting at a special bond election held
in and for the District on November 4, 1986, the issuance of
$15,000,000 School Irnprovl:!ment Bonds, Project of 1986, of the
District has been authorized; and
WHEREAS, pursuant to the request of the Governing Board of
the District, $5,000,000 in aggrE!gate principal amount of such
school improvement bonds are to be issued and saId at this time;
NOW, THEREFORE IT IS ~ESOLVED BY THE BOARD OF SUPERVISORS OF
MOHAVE COUNTY, ARIZONA, AS FOLLOWS:
Section 1. Authorization. There is hereby authorized to be
issued-an-d'-:sold anrssuE~-()f:-bonds of the District in an aqgregate
principal amount of $5,000,000. The bonds so authorized shall be
designated Kingman EllemE~nt:ary Schoo 1 District No. 4 of Mohave
County, Arizona, School Improvement Bonds, Project of 1986,
Series 0 (1990) (the "Bonds"), and shal1 be issued and saId as
directed by this Board in accordance with the provisions of
applicable laws.
Section 2. Terms. 'rhe Bonds will be dated July 1, 1990,
and wIjT'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 January 1 during the term of the Bonds.
The Bonds shall be in the denomination of $5,000 each or integral
multiples thereof, and sholll be ::n ful1y registered form. The
Bonds will mature on July 1 in the years 1993 to 2004, inclusive,
as follows:
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Maturity Date
(July 1)
Principal
Amount
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
$ 100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
100,000
1,300,000
1,400,000
1,400,000
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 prcposal received in response th€'reto as
more fully set forth in Section 9 of this resolution, and in the
form of Bond attached as Exhibi ~~, which is a part of this
resolution.
Section 3.
~r i o~_~~~C!.I~~mpt i on.
A. Redemption. Bond::, maturing on or before July 1, 2002,
are not subject to cal1 for redemption prior to maturity. Bonds
maturing on July 1, 2~'03, and July 1, 2004, are subject to call
for redemption prior to maturity, in whole or in part, on July 1,
2002, or on any interest payment date thereafter at par by the
paymen t of a redempt i on pI" i ce equal to the pr i nc ipa 1 amount of
each Bond called for redemption plus accrued interest to the date
fixed for redemption and without premium.
B. ~0~.!.~E!:. Not i ce of redempt: i on of any Bond wi 11 be ma i led
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 at 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.
C. Ef f ect of Ca 11 f or Redempt i on. On the date des i gna ted
for redem~tion by notice ~iven as herein provided, the Bonds so
called for redemption shall become and be due and payable at the
:redempt ion pr i ce prov i ded for redempt i on of such Bonds on such
date, and, if moneys for p3yment of the redemption price are held
in separate accounts by the paying agent, interest on such Bonds
or par t ions of Bonds so ca lIed for redempt ion sha 11 cease to
accrue, such Bonds sha 11 cease to be ent i t led to any benef it or
secu r i ty hereunder and the owners of such Bonds shall have no
rights in respect therecf except to receive payment of the
redemption price thereof and such Bonds shall be deemed paid and
no longer. outstanding.
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D. Redemption of Less Than All of a Bond. The District may
redeem an ~mount which is lncluded in a Bond in the denomination
i n ex c e s s 0 f, but d i vis iD 1 e by, $ 5 , 0 0 0 . I nth ate v e nt, the
registered owner shal1 submit the Bond for partial redemption and
the paying agent shall make such partial payment and the
Registrar shall cause to be issued a new Bond in a principal
amount which reflects the redemption so made to be authenticated
and delivered to the registered owner thereof.
Section 4. Security. For the purpose of paying the
principal of, interest--anc!-premium (if any) on early redemption
and costs of administration of the registration and payment of
the Bonds there shal1 be levied on all the taxable property in
the District a continuing, direct, annual, ad valorem tax
sufficient to pay all such principal, interest, premium and
administration costs on tte Bonds as the same becomes due, such
taxes to be levied, assessed and collected at the same time and
in the same manner as ether taxes are levied, assessed and
collected. The proceeds of the taxes shall be kept in a special
fund entitled the Debt Service Furd of the District and shal1 be
used only for the payment of principal, interest and
administration costs as above-stated.
~ec~~I~~~. Use (~X_~~_(~~ceed~. The net proceeds from the sale
of the Bonds, after paymen~ 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 12 hereof, this resolution shall be
cons t rued as cons en t of the Board of Superv i sors to i nves t such
fun d s , pen din g use, i n any 0 f t h 4:! see u r i tie saIl owed by A. R . S .
Section 15-1025. This re:::wlution shall constitute a continuing
consent to such investment 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 shal1 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 monies deposited to the Debt Service Fund of the
District may be invested in the same manner as the Kingman
Elementary School District No. 4 of Mohave County, Arizona,
School Improvement Bonds, Project of 1986, Series D (1990)
Building Fund and this H!solution shall be construed to be a
consent to such investments and shal1 also be construed to be
continuing.
Section 6. Form of :Ionds. Pursuant to A.R.S. Section 35-
491, -a--fuTly reg i s tered--b6'rld form is adopted as an al terna t i ve to
the form of bond provided in A.R.S. Section 15-1023. A registrar
and paying agent wil1 be appointed for the administration of the
Bonds. The Bonds shall be in substantially the form of Exhibit
A, at tachE!d hereto and i~lcorpora ted by ref erence here in, with
~uch necessary and appropriate omissions, insertions and
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variations as are permitted or required hereby or by the Notice
Inviting Proposals for the Purchase of Bonds and are approved by
those off i cer s execu t i ng the Bond s. Execut i on of the Bonds by
such officers shall constitute conclusive evidence of such
approval.
The Bonds may have notations,
required by law, securiti(~s exchange
shal1 show both the date of the issue
authentication and registration.
legends or endorsements
rule or usage. Each Bond
and the date of such Bond's
The Bonds are prohibited from being converted to coupon or
bearer Bonds without the consent of the Board of Supervisors and
approval of bond counsel.
Section 7. Execution of Bonds. The Bonds shall be executed
for and on behalf-----or-fFi-E;--::listrict by the President and attested
by the CI~=rk of the Governing Board and countersigned by the
Chairman of the Board of Supervisors of this County. Any or all
of such signatures may be manually or by facsimile or mechanical
reproduction; however, if such signatures are by facsimile, such
officers shall manually sign a certificate adopting as and for
their signatures on the Bonds the respective mechanically
reproduced signatures affixed to the Bonds. Notwithstanding any
provision of this section, no Bond shall ever bind the District
until is has been manually authenticated by the registrar.
If an officer whose signature is on a Bond no longer 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 shal1 be conclusive evidence that the Bond has been
authenticated and issued u~der this resolution.
Section 8. Mutilated, Lost or Destroyed Bonds. In case any
Bond bE~comesmutilated--or-- destroy"ed or lost, the District shall
cause to be executed and del i vered a new Bond of 1 i ke Cia te 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 dE'~s t rayed or los t, upon the reg i s tered owner's pay i ng the
r'easonable expenses and cha rges of the D i s t r i ct in connect i on
therewith and, in the case of the Bond destroyed or 10st, filing
with the County Treasurer by the registered owner evidence
sa t i sf actory to the T r'=as urer that such Bond was des t rayed or
lost, and furnishing the County Treasurer with a sufficient
indemnity bond pursuant to Section 47-8405, Arizona Revised
Statutes.
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See t ion 9 . Ace e je~~_ nee ~!.._, Pro po s a 1 . The pro po s a 1 0 f
RAUSCHER PIERCE REFSNES, INC.
forthE!J)urchase of th€'--~B(mdslS- hereby accepted and the Bonds
are hereby ordered sold to such p&rchaser in accordance with the
terms of such proposal and the terms and conditions of the Notice
Inviting Proposals fo:r 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 Treasurer is herE!by authorized and directed to
cause the Bonds to be delivered to the purchaser upon receipt of
paymen t the ref ore and sa t i sf act ion of the other cond i t ions for
delivery thereof in accordance with the terms of the sale.
Sectj~:)n 10. Re(:!!st]~ar. 'l'he 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
ITlay be presented f or payment (the II Pay i ng Agent ") . The D i s tr i ct
may appoint one or more co-registrars or one or more additional
Paying Agents. The Registrar and Paying Agent may make
reasonable rules and set reas01able requirements for their
respective functions with respect to the owners of the Bonds.
Initially, The Valle~r National Bank of Arizona, Phoenix,
1I.rizona, is appointed to act as Registrar and Paying Agent with
respect to the Bonds. Th~:! District may change the Registrar or
Paying Agent without notice to or consent of owners of the Bonds
and the District may act in any such capacity.
The Registrar's fee payment agreement between the County and
the District is hereby approved in substantially the form on file
with the Clerk, to prov i de f or the payment of the costs of
registration and printing of the Bonds. The contract for
Registrar's services is hereby approved in substantially the form
on file with the Clerk to provide for the payment of Registrar's
services. Upon full execution of the Registrar's fee payment
agreement, the Chairman of this Board and the Treasurer are
hereby authorized 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 re~uired 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 authenticate Bonds. An authenticating agent
may au thent i ca te Bonds wh€!never the Reg i st r ar may do so. Each
reference in this resolut:lon to authentication by the Registrar
includes authentication by an authenticating agent acting on
behalf an 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 registration books if its requirements for
trans f E~r a re met and sha 11 au then~: i cate and del i ver one or more
Bonds registered in the name of the transferee of the same
principal amount, maturity and rate of interest as the
surrendered Bonds. The "Record Date" for the Bonds shall be the
close of business of tbE= Registrar on the fifteenth day of the
month preceding an interest: payment 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 will be registered in the name of the
transferee but the interest payment (except interest paid at
ma tu r i ty or upon pr i or n~dempt ion) will be made payable to and
mailed to the registered owners shown on the books of the
Reg i st rar as of the c lose of bus i ness on the respect i ve Record
Date.
The Registrar shall authenticate Bonds for original issue up
to :?5,000,000 in aggregate 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 a9gregate
principal amount of Bonds outstanding at any time may not exceed
that amount except for replacement Bonds as to which the
requirements of the Regist~ar and the District are met.
See t ion 11. Res 0 1 u t :, on a Con t r act. T his res 0 1 uti on s h a 11
constitut'e---acontract--Jbetlr/een th~e District and the re9istered
owners of the Bonds and shal1 not be repealed or amended in any
manner which would impair" impedE! or lessen the rights of the
registered owners of the Bonds the1 outstanding.
section 12. Tax Covenants. In consideration of the
purchase --~ind acceptanceaT the Bonds by the owners therE!of and,
as authorized by Arizona Hevised Statutes, Title 35, Chapter 3,
Art i c 1 e '7, and i n con sid Eo' rat ion 0 f r eta i n i n g the ex C 1 us ion 0 f
interest income on the Bonds from gross income for federal income
tax purposes, the County covenants with the owners from time to
time of the Bonds to neither take nor fail to take any action
which action or failure to act is within its power and authority
and would result in interest income on the Bonds becoming subject
to i nc 1 us i on as gross i neome for federal income tax purposes
under either laws existing on the date of issuance of the Bonds
or such laws as they may be modified or amended.
The County agrees that it will comply with such
requirement(s) and will take any such action (s) as in the
opinion of Gust, Rosenfeld & Henderson ("bond counse~") are
necessary to prevent interest income on the Bonds becoming
subject to inclusion in gross income for federal income, tax
purposes. Such requirements may include but are not limited to
making further specific covenants; making truthful certifications
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and reprE~senta t ions and 9 i v i ng nE~cessary assurances; comply i ng
with all represent at ions, covenan ts and assu rances conta i ned in
certificates or agreements to be prepared by bond counsel; to pay
to the united States of America any required amounts representing
rebates of arbitrage profits relating to the Bonds; filing forms,
statements and supporting documents as may be required under the
federal tax laws; limiting 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 13. Designation of Obligations. The Board of
Superviso.r~; hereby desl~Jna1:es the ~Bon,ds as "qualified tax-E~xempt
obligations" for purpose of Section 265(b) (3) of the Internal
Revenue Code of 9186, as amended (the "Code"). The Board of
Supervisors hereby certifies that it reasonably anticipates that
the aggregate amount of qualified 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 entities
thereof) in calendar year 1990 wil1 not exceed $10,000,00".
Section 14. Severability. If any section, paragraph,
subdivisToii-;-sentence;c:J:aljse or p::1rase of this resolution is for
any reason held to bE~ i llegal Ol~ 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 resolution 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, subdivisions, sentenCI:!S clauses or phrases of this
resolution may be held illegal, invalid or unenforceable.
Section 15. Ratification of Actions. All actions of the
off icers-and agents-cif:---t:-h-E~l5Tstr i ct ;-the -County or the Board of
Superv i sors wh i ch conf orm to the purposes and intent of th i s
resolution and which further the issuance and sale of the Bonds
as contempla ted by t h i ~3 resol uti on whether heretof ore or
hereafter taken are hereby ratified, confirmed and approved. Any
changes made in the Notice Inviting Proposals for the Purchase of
Bonds which do not conform to the prior order of this Board 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 the District as may be necessary to carry out the terms
and intent of this resolution.
PASSED,' 'AD'OP'r~D AND APPROVED by the Board of Superv:l sor s of
Mohave County, AJ;tZ'O~_:, on June 4, 1990. _ ,/ _,,,
;'" ,: ~~~PCKJ
ATTEScr>..' /~:_' ." ""-"~'; \>~~ "LOIS-J~- RD, CHAIR11AN
:l ':.at. Z..;,,~ i ,It:.u~:{~..
p,: TCfUrS .... I ,,;" CLEHK
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EXHIBI')' A
(Face of Bond)
KINGMAN ELEMENTARY SCHOOL DISTRICT NO. 4
OF MOHAVE COUNTY, ARIZONA
SCHOOL IMPROVEMENT BOND
PROJECT OF 1986, SERIES 0 (1990)
Number:
Denomination:
$
Interest
Rate
Maturity
Date
Original
Issue Date
CUSIP
%
July 1, 1990
Registered Owner:
Principal Amount:
DOLLARS
KINGMAN ELEMENTARY SCHOOL DISTRICT NO. 4 OF MOHAVE COUNTY,
ARIZONA, for value received, hereby promises to pay to the
registered owner identified above, or registered assigns as
provided herein, on the maturity date set forth above, the
p r i nc ipal amount set forth above, and to pay interest on the
unpaid principal amount at the interest rate shown above.
CE!rtain bonds of thE~ issue of which this bond
subject to call for redemption prior to maturity in
with the terms set forth on the reverse of this bond.
is one are
accordance
Inten:~st is payable on Janua.ry 1 and July 1 of each year
commencing January 1, 1991, and will accrue from 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
wi 11 be computed on the bas i s of a year compr i sed of 360 days
consisting of twelve (12) months of thirty (30) days each.
Principal and interest are payable in lawful money of the
united States of America. Interest wil1 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 da~e as explained on the reverse hereof.
Pr i nc ipal will be pa i d W~len due to the reg i s tered owner upon
surrender of this bond for payment at the designate office of the
paying agent, which ori the original issue date is the principal
corporate trust office of The Valley National Bank of Arizona in
Phoenix, Arizona.
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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 occurred and have been
performed and that the i:,sue of bonds of which this is one,
together with all other indebtednE~ss of the District, is within
every debt and other 1 im it presc r i bed by the Const i tut i on and
laws of tbe 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.
The District has caused
President and attested by the
counter signed by the eha i rman
Mohave County, which signatures
this bond to be executed by
CIE, rk of its Govern i ng Board
of the Board of Supervisors
may be facsimile signatures.
the
and
of
This bond is not valid or binding upon the District without
the manually affixed signature of an authorized representative of
the registrar.
KINGMAN ELEMENTARY SCHOOL
DISTRICT NO. 4 OF MOHAVE
COUNTY, ARIZONA
President, Governing-Board
ATTEST:
Clerk, Governing B().3rd----
COUNTERS IG.NED:
Cha rrman~- Board of Super~v i :~:or S
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DATE OF AUTHENTICATION AND REGISTRATION:
AUTHENTICATION CERTIFICATE
This bond is one of ~he Kingman Elementary School District
No. 4 of Mohave County, Arizona, School Improvement Bonds,
Project of 1986, Series D (1990), described in the resolution
mentioned on the reverse hereof.
THE VALLEY NATIONAL BANK OF ARIZONA,
as Registrar
Authorized RepresentatIve ----
(Form of Reverse Side of Bond)
Th i s bond is one of an issue of bonds in the aggregate
principal amount of $5,000,000 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 qllalified electors voting at an
election duly cal1ed and held in and for the District, pursuant
to a resolution of the Boa~d 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
hereon and for the levy and collection of
sufficient for that PUl:pose, the ful1 faith
District are hereby irrevocably pledged.
and the interest
ad valorem taxes
and cred i t of the
Bonds maturing on or before July 1, 2002, are not subject to
call for redemption prior to maturity. Bonds maturing on July 1,
2003, and July 1, 2004, are subject to call for redemption prior
to maturity, in whole or in part, on July 1, 2002, or on any
interest payment date thE:,reafter at par by the 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 premium.
Not i ce of redempt i on of any bond will be ma i led
than sixty (60) nor less than thirty (30) days prior to
set for redemption to the registered owner of the bond
being redeemed at the address shown on the bond
maintained by the registrar.
not more
1:hE~ date
or bonds
Jregister
The registrar or pay:hg 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 registrar for transfer
during the period commencing after the close of business on the
record date and continui:Clq to and including the next i.nterest
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 reg i strar' s books at the close of
business on the record date.
The reg i s t ra r may but need not reg i ster the trans f er 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 selectE:'d for call for redemption in
whole or in part is registered, any notice of redemption will be
delivered to the transferee along with the bond or bonds.
Bonds of this issuE~
form in the denomination
thereof.
issuable only in fully
$5,000 each or integral
reqistered
multiples
are
of
The D i s t r i c t , the reg i s t r a ran d the pay i n gag e n t ma y t rea t
the registered owner of this bond as the absolute owner for the
purpose of receiving p:rincipal and interest and for all other
purposes and none of them shall be affected by any notice to the
contrary.
The following abbreviations, when used in the inscription on
the f ace of th i s bond, shall be cons t rued 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 ACT-
Custodian
(Mlmn)
Gifts/Transfers
(Cust)
under Uniform
to Minors Act
--('Stat e }---
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Additional abbreviations may also be used though not in list
abOVE:?' .
(Font of Assignment)
FOR VALUE RECEIVED the undersigned hereby seIls, assigns and
transfers unto
-------------(~famearld~~ddress-of Transferee)
the within bond and all rights thereunder, and hereby irrevocably
constitutes and appoints
attorney to transfer the--W-i thin.- bonce-on the books kept
registration thereof, with full power of substitution in
premises.
,
for
the
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 enlargement or any change
whatsoever.
Signature Guaranteed:
Comrnerc-i a [-bank ;-trust-c~oml:~ny
or member of a national
securities exchange