City of Schenectady, NY
Schenectady County
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Table of Contents
Table of Contents
[HISTORY: Adopted by the Council of the City of Schenectady 2-9-1970 by Ord. No. 15274,[1] amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I). Other amendments noted where applicable.]
GENERAL REFERENCES
Department of Finance — See Ch. 52.
[1]:
Editor's Note: The provisions of this chapter are derived from Ch. 2, Article X, of the former Revised Ordinances, adopted 2-9-1970 as Ord. No. 15274.

§ 14-1 Form.

All bonds issued by the city shall be in substantially the following form, with such changes, if any, as may become necessary or be required under any ordinance or law hereafter adopted or applying to particular issues of bonds:
UNITED STATES OF AMERICA STATE OF NEW YORK THE CITY OF SCHENECTADY
No......... $1,000.
................... BOND
  KNOW ALL MEN BY THESE PRESENTS. That the City of Schenectady, in the County of Schenectady, State of New York, for value received, hereby acknowledges its indebtedness and promises to pay to the bearer hereof on the...... day of ............, 19 ........ the sum of
ONE THOUSAND DOLLARS $1,000.
with interest thereon at the rate of...... per centum (........%) per annum, payable semiannually in.......... and.......... in each year, until the payment of said principal sum, upon surrender of the annexed coupons as they become due.
  Upon written request of the holder, this bond may be registered in accordance with the provisions endorsed hereon, and thereafter both principal and interest will be payable only to the registered owner, his legal representatives, successors or assigns.
  Both principal and interest of this bond are payable in lawful money of the United States of America at.......... in the City of New York or, at the option of the holder, at the office of the Director of Finance in the City of Schenectady, New York.
  This bond is one of a series of bonds issued pursuant to Article 7 of the General City Law and to the Second Class Cities Law and authorized by an ordinance of said city duly enacted.
  It is hereby certified that all conditions, acts and things essential to the validity of this bond exist, have happened and have been done and that every requirement of the law affecting the issue hereof has been duly complied with and that this bond, together with all other indebtedness of said city, does not exceed the constitutional limitation of indebtedness and is within every debt and other limit prescribed by the laws and Constitution of said state.
  The faith and credit of said city are hereby pledged to the punctual payment of the principal and interest of this bond according to its terms.
  IN WITNESS WHEREOF, the City of Schenectady has caused this bond to be signed by the Mayor and City Clerk and to be countersigned by the Director of Finance of said city and the Corporate Seal of said city to be affixed hereto and the annexed coupons to be executed by the facsimile signature of said Director of Finance, as of the...... day of............ 19.....
.........................
Mayor
Countersigned:
........................... .........................
Director of Finance City Clerk
  On the ........ day of ............ 19. the City of Schenectady, New York, will pay to the bearer ............ dollars ($.......) in lawful money of the United States of America at ............ in the City of New York or, at the option of the bearer, at the Director of Finance's office, being six (6) months' interest then due on its ... ........ bond. Dated............, 19.....
No. ........
..............................
Director of Finance
CONVERSION CERTIFICATE
  It is hereby certified that, upon the written request of the holder, the coupons attached hereto, being ............ in number, of $...... each, have been this day cut off and destroyed and that the within bond is hereby converted into a registered bond, with the interest payable hereon semiannually, and that such interest, at the rate and on the dates named in said bond, as well as the principal, is to be paid to the registered owner thereof, legal representatives, successors or assigns, at ..........., in New York City or, at the option of such owner, at the office of the Director of Finance, Schenectady, New York.
  This bond, when registered, is transferable only upon the books of the transfer agent named below, upon presentation to such transfer agent with a written assignment duly acknowledged or proved.
.........................
Director of Finance
Dated .............., 19.....
Date of In Whose Name Transfer Agent
Registry Registered: Director of Finance

§ 14-2 Copies of proceedings; place of payment.

The Director of Finance and other officers of the city are authorized to furnish to the purchasers of any bonds or to the attorneys approving such bonds for the city, or for the purchaser, certified copies of proceedings and such other certificates, statements or affidavits as may be requested with respect to such proceedings or to any facts affecting the validity of said bonds. Subject to any law or ordinance applying to particular issues of bonds, the Director of Finance may determine the place of payment in New York City, and he may also, in his discretion, eliminate the provision for payment in Schenectady.