No. 0925 authorizing the issuance/sale of special taxing district bonds of the SB redevelopment district for purpose of raising money for property acquisition and redevelopment in the Studebaker Corridor Dev Area

Home Browse Search

Unless waived by any holder of bonds to be redeemed, official notice of any such redemption shall be given by the Registrar on behalf of the Commission by mailing a copy of an official redemption notice by registered or certified mail at least 30 days and not more than 60 days prior to the date fixed for redemption to the registered owner of the bond or bonds to be redeemed at the address shown on the Bond Register or at such other address as is furnished in writing by such registered owner to the Registrar; provided, however, that failure to give such notice, or any defect therein, with respect to any bond shall not affect the validity of any proceedings for the redemption of other bonds. Official notice of redemption having been given as aforesaid, the bonds, or portions of bonds so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified, and from and after such date (unless the Commission shall default in the payment of the redemption price) such bonds or portions of bonds shall cease to bear interest. Upon surrender of such bonds for redemption in accordance with said notice, such bonds shall be paid by the Paying Agent at the redemption price. Bonds redeemed in.part may be exchanged for a bond or bonds of the same maturity in authorized denominations equal to the remaining principal amount. This bond is transferable or exchangeable only upon the Bond Register by the registered owner hereof in person, or by his attorney duly authorized in writing, upon surrender of this bond together with a written instrument of transfer or exchange satisfactory to the Registrar duly executed by the registered owner or his attorney duly authorized in writing, and thereupon a new fully registered bond or bonds in the same aggregate principal amount and of the same maturity shall be executed and delivered in the name of the transferee or transferees or the registered owner, as the case may be, in exchange therefor. This bond may be transferred or exchanged without cost to the registered owner, except for any tax or governmental charge required to be paid with respect 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 payment 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 -12- \rlhill\studbakr\corrproj\lufnlbnd;la;Apri1 6, 1990;