Res-2020-010 - Laserfiche WebLink

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Authentication shall be conclusive evidence that the Bond as authenticated has been duly executed, authenticated and delivered hereunder and is entitled to the benefits of this resolution. In case either of the officers who shall have executed the Bond shall cease to be an officer or officers of the County before the Bond so signed shall have been authenticated or delivered by the Bond Registrar, or issued by the County, such Bond may nevertheless be authenticated, delivered and issued and upon such authentication, delivery and issuance, shall be as binding upon the County as though those who signed the same had continued to be such officers of the County. The Bond may also be signed and attested on behalf of the County by such persons who at the date of the actual execution of such Bond, are the proper officers of the County, although at the original date of such Bond any such person shall not have been such officer of the County. Section 7. Refunding Plan and Procedures. (a) Designation of Refunded Bonds. As outlined in the recitals of this resolution, the 2010 Bonds may be called for redemption prior to their scheduled maturities. All or some of the 2010 Bonds may be refunded with the proceeds of the Bond authorized by this resolution. The County Representative may select some or all of the 2010 Bonds and designate those 2010 Bonds as the "Refunded Bonds", if and to the extent that the net present value aggregate savings with respect to the Bond to be realized as a result of the refunding after payment of all allocable costs of issuance is at least equal to the Savings Target. (b) Refunding Plan. A portion of the proceeds of sale of the Bond, together with other funds, if any, provided by the County shall be used on the date of delivery of the Bond to the Bank or may be delivered to the Escrow Agent for the purpose of defeasing the Refunded Bonds and paying related costs of issuance. If money is delivered to an Escrow Agent, those -13- 502686980 v1