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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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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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case. of any mutilated Bond, such mutilated Bond shall first be surrendered to the City and <br />the Registrar, and in the case of any lost, stolen or destroyed Bond there shall be first <br />furnished to the City and the Registrar evidence of such loss, theft or destruction satisfactory <br />to the City and the Registrar, together with indemnity satisfactory to them. In the event any <br />such lost, stolen or destroyed Bond shall have matured, instead of issuing a duplicate Bond, <br />the City and the Registrar may, upon receiving indemnity satisfactory to them, pay the same <br />without surrender thereof. The City and the Registrar may charge the owner of such Bond <br />with their reasonable fees and expenses in connection with the above. Every substitute <br />Bond issued by reason of any Bond being lost, stolen or destroyed shall, with respect to such <br />Bond, constitute a substitute contractual obligation of the District, whether or not the lost, <br />stolen or destroyed Bond shall be found at any time, and shall be entitled to all the benefits <br />of this Resolution, equally and proportionately with any and all other Bonds duly issued <br />hereunder. <br />Norwest Bank Indiana, N.A., in the City of South Bend, Indiana, is hereby <br />appointed as Registrar ( Norwest Bank Indiana, N.A., and any subsequent registrar appointed <br />pursuant to this Resolution shall hereinafter be referred to as the 'Registrar ") for the Bonds <br />and is hereby charged with the responsibility of authenticating the Bonds. The Registrar <br />shall keep and maintain at its principal office books for the registration and for the transfer <br />of the Bonds (the "Bond Register "). The President of the Commission is hereby authorized <br />and directed, on behalf of the Commission, to enter into such agreements or understandings <br />with the Registrar as will enable the Registrar to perform the services required of a <br />registrar, and is directed to pay the Registrar for its services out of available funds of the <br />District. <br />The Registrar or the Paying Agent may at any time resign as Registrar or <br />Paying Agent by giving thirty (30) days' written notice to the Commission and by first -class <br />mail to each registered owner of Bonds then outstanding, and such resignation will take <br />effect at the end of such thirty (30) days or upon the earlier appointment of a successor <br />Registrar or Paying Agent, as the case may be, by the Commission. Such notice to the <br />Commission may be served personally or be sent by registered mail. The Registrar or <br />Paying Agent may be removed at any time as Registrar or Paying Agent by the Commission, <br />in which event the Commission may appoint a successor Registrar or Paying Agent, as the <br />case may be. The Commission shall cause each registered owner of Bonds then outstanding <br />to be notified by first -class mail of the removal of the Registrar or Paying Agent. Notices <br />to registered owners of Bonds shall be deemed to be given when mailed by first -class mail <br />to the addresses of such registered owners as they appear on the Bond Register. <br />The Bonds shall be executed in the name of the City, by the manual or <br />facsimile signature of the Mayor of the City, and attested by the manual or facsimile <br />signature of the Controller, who shall cause the official seal of the City to be impressed or <br />a facsimile thereof to be printed or otherwise reproduced on each of the Bonds. Subject <br />to the provisions hereof for registration, the Bonds shall be negotiable under the laws of the <br />State of Indiana. <br />-5- <br />
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