[HISTORY: Adopted by the Council of the City
of Schenectady 2-9-1970 by Ord.
No. 15274;[1] amended 6-2-1986 by L.L. No. 3-1986.
Subsequent amendments noted where applicable.]
GENERAL REFERENCES
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.
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:
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UNITED STATES OF AMERICA STATE OF NEW YORK THE
CITY OF SCHENECTADY
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No.........
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$1,000.
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................... BOND
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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
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ONE THOUSAND DOLLARS $1,000.
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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.
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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.
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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.
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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.
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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.
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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.
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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.....
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.........................
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Mayor
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Countersigned:
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...........................
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.........................
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Director of Finance
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City Clerk
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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.....
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No. ........
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..............................
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Director of Finance
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CONVERSION CERTIFICATE
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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.
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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.
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.........................
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Director of Finance
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Dated .............., 19.....
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Date of
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In Whose Name
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Transfer Agent
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Registry
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Registered:
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Director of Finance
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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.
