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10190-12 Refinance Waterworks revenue of 2002
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10190-12 Refinance Waterworks revenue of 2002
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Last modified
10/12/2012 12:35:11 PM
Creation date
10/12/2012 12:35:02 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
10/8/2012
Ord-Res Number
10190-12
Bill Number
53-12
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interest payment date in which case they shall bear interest from such interest payment date, or <br /> unless authenticated on or before the Record Date for the first interest payment date, in which <br /> case they shall bear interest from the original date, until the principal shall be fully paid. <br /> SECTION 4. Transfer and Exchange of Bonds. Each 2012 Bond shall be transferable <br /> or exchangeable only upon the Registration Record, by the registered owner thereof in writing, <br /> or by the registered owner's attorney duly authorized in writing, upon surrender of such 2012 <br /> Bond together with a written instrument of transfer or exchange satisfactory to the Registrar duly <br /> executed by the registered owner or such attorney, and thereupon a new fully registered 2012 <br /> Bond or Bonds in the same aggregate principal amount, and of the same maturity, shall be <br /> executed and delivered in the names of the transferee or transferees or the registered owner, as <br /> the case may be, in exchange therefor. The costs of such transfer or exchange shall be borne by <br /> the City except for any tax or governmental charge required to be paid with respect to the <br /> transfer or exchange, which taxes or governmental charges are payable by the person requesting <br /> such transfer or exchange. The City, the Registrar and the Paying Agent may treat and consider <br /> the persons in whose names such 2012B Bonds are registered as the absolute owners thereof for <br /> all purposes including for the purpose of receiving payment of, or on account of, the principal <br /> thereof and interest and premium, if any, due thereon. <br /> In the event any 2012 Bond is mutilated, lost, stolen or destroyed, the City may execute <br /> and the Registrar may authenticate a new bond of like date, maturity and denomination as that <br /> mutilated, lost, stolen or destroyed, which new bond shall be marked in a manner to distinguish it <br /> from the bond for which it was issued, provided that, in the case of any mutilated bond, such <br /> mutilated bond shall first be surrendered to the Registrar, and in the case of any lost, stolen or <br /> destroyed bond there shall be first furnished to the Registrar evidence of such loss, theft or <br /> destruction satisfactory to the Fiscal Officer and the Registrar, together with indemnity <br /> satisfactory to them. In the event any such bond shall have matured, instead of issuing a <br /> duplicate bond, the City and the Registrar may, upon receiving indemnity satisfactory to them, <br /> pay the same without surrender thereof. The City and the Registrar may charge the owner of <br /> such 2012 Bond with their reasonable fees and expenses in this connection. Any 2012 Bond <br /> issued pursuant to this paragraph shall be deemed an original, substitute contractual obligation of <br /> the City, whether or not the lost, stolen or destroyed 2012 Bond shall be found at any time, and <br /> shall be entitled to all the benefits of this Ordinance, equally and proportionately with any and all <br /> other 2012B Bonds issued hereunder. <br /> SECTION 5. Registrar and Paying Agent. The Fiscal Officer is hereby authorized to <br /> appoint a qualified financial institution to serve as Registrar and Paying Agent for the 2012B <br /> Bonds (together with any successor, the "Registrar" or"Paying Agent"). The Registrar is hereby <br /> charged with the responsibility of authenticating the 2012B Bonds, and shall keep and maintain <br /> the Registration Record at its office. The Fiscal Officer is hereby authorized to enter into such <br /> agreements or understandings with such institution as will enable the institution to perform the <br /> services required of a Registrar and Paying Agent. The Fiscal Officer is further authorized to <br /> pay such fees and the institution may charge for the services its provides as Registrar and Paying <br /> Agent and such fees may be paid from the Sinking Fund established to pay the principal of and <br /> interest on the 2012B Bonds as fiscal agency charges. <br /> - 6 - <br />
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