No. 1422 authorizing the issuance and sale of special taxing district refunding bonds of the SB redevelopment district for the purpose of advance refunding the COSB redevelopment district bonds of 1990

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to the exchange. The Registrar shall not be required to make any transfer or exchange of this Bond if it has been called for redemption or during the period following the fifteenth day of any calendar month immediately preceding an interest payment date to such interest ipayment date. The City, the Commission and the Registrar may treat and consider the person in whose name this Bond is registered as the absolute owner hereof for all purposes including for the purpose of receiving payment of, or on account of, the principal hereof and interest due hereon. In the manner provided in the Resolution, the Resolution and the rights and obligations of the Commission and of the owners of the Bonds, may (with certain exceptions as stated in the Resolution) be modified or amended with the consent of the owners of at least sixty percent (60 %) in aggregate principal amount of outstanding Bonds exclusive of Bonds, if any, owned by the Commission or the City. The Bonds maturing in any one year are issuable only in fully registered form in the denomination of Five Thousand Dollars ($5,000) or any integral multiples thereof not exceeding the aggregate principal amount of the Bonds maturing in such year. In the event this Bond is mutilated, lost, stolen or destroyed, the City may execute and the Registrar may authenticate a new Bond of like date, maturity and denomination as this Bond, which new Bond shall be marked in a manner to distinguish it from this Bond; provided that, in the case of this Bond being mutilated, this Bond shall first be surrendered to the City and the Registrar, and in the case of this Bond being lost, stolen or destroyed, there shall first be furnished to the City and the Registrar evidence of such loss, theft or destruction satisfactory to the City and the Registrar, together with indemnity satisfactory to them. In the event that this Bond, being lost, stolen or destroyed, shall have matured, instead of issuing a duplicate Bond the City and the Registrar may, upon receiving indemnity satisfactory to them, pay this Bond without surrender hereof. The City and the Registrar may charge the owner of this Bond with their reasonable fees and expenses in connection with the above. Every substitute Bond issued by reason of this Bond being lost, stolen or destroyed shall, with respect to this Bond, constitute a substitute contractual obligation of the District, whether or not this Bond, being lost, stolen or destroyed shall be found at any time, and shall be entitled to all the benefits of the Resolution, equally and proportionately with any and all other Bonds duly issued thereunder. The Registrar or Paying Agent may at any time resign as Registrar or Paying Agent by giving thirty (30) days' written notice to the Commission and by first -class mail to the registered owners of Bonds then outstanding, and such resignation will take effect at the end of such thirty (30) days or upon the earlier appointment of a successor Registrar or Paying Agent, as the case may be, by the Commission. Such notice to the Commission may be served personally or be sent by registered mail. The Registrar or the Paying Agent may be removed at any time as Registrar or Paying Agent by the Commission, in which event the Commission may appoint a successor Registrar or Paying Agent, as the case may be. The Commission shall cause the registered owner of this Bond, if then outstanding, to be notified by first -class mail of the removal of the Registrar or Paying Agent. Notices to -12-