Loading...
The City and County shall have the power out of any funds available to purchase its Bonds. The City and County may hold, pledge, cancel, or resell such Bonds, in accordance with agreements with the bondholders.
(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)
In anticipation of the sale of Bonds authorized by this Article, the City and County is hereby authorized to issue bond anticipation notes, and to renew the same from time to time, in such series and amounts as are determined by the Board of Supervisors to be necessary or appropriate for the Costs of Facilities approved by the Board of Supervisors. Such notes shall be payable from Revenues or other moneys or assets authorized by this Article to be pledged to secure payment of Bonds, and which are not otherwise pledged, or from the proceeds of sale of the particular Bonds in anticipation of which they are issued. Such notes shall be issued in the same manner as Bonds. The Responsible Department shall determine the terms and timing of the issuance of particular bond anticipation notes in accord with the provisions of Section 43.2.17 of this Chapter and the resolution of the Board of Supervisors approving the particular Facility to be financed thereby. Such notes, any resolution relating to the issuance of such notes and any indenture to be entered into by the City and County pursuant to such resolution may contain any provisions, conditions or limitations permitted under Section 43.2.1 of this Chapter.
(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)
The validity of the authorization and issuance of any Bonds is not dependent on and shall not be affected in any way by any proceedings taken by the City and County for the approval of any financing or the entering into of any agreement, or by the failure to provide financing or enter into any agreement, for which Bonds are authorized to be issued under this Article.
(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)
TITLE 4 - - SUPPLEMENTAL PROVISIONS
Any omission of any officer of the City and County in proceedings under this Article or any other defect in the proceedings shall not invalidate such proceedings or the Bonds issued pursuant to this Article.
(Added by Ord. 12-00, File No. 992117, App. 2/11/2000)
Loading...