1990-12-17 Resolution 26 - Laserfiche WebLink

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Authority or the Trustee, may bear the same or a different serial number, be marked "Duplicate," or be otherwise distinguished. In case of destruction, theft or loss, the applicant for a substituted Bond shall furnish to the Authority and said Trustee evidence of the destruction of such Bond so destroyed, which evidence must be satisfactory to the Authority and said Trustee, in their discretion, and said applicant shall also furnish indemnity satisfactory to both of them in their discretion.. The Authority shall have the right to require the payment of the expense of issuing such replacement prior to the delivery of a new Bond. Sec. 2.07. The Trustee .shall keep, at its principal office, a record for the registration of Bonds issued hereunder which shall, at all reasonable times, be open for inspection by the Authority. Each registered Bond shall be transferable only on such record at the principal office of the Trustee., at the written request of the registered owner thereof or his attorney duly authorized in writing, upon surrender thereof, together with a written instrument of transfer satisfactory to the Trustee duly executed by the registered owner or his duly authorized attorney. Sec. 2.08. The Authority and the Trustee may deem and treat the person in whose name any Bond issued hereunder shall be registered as the absolute owner of such Bond for the purpose of • receiving payment of or on account of the principal of said Bond, and for all other purposes whatsoever. Sec. 2.09. Registered owners of Bonds may, upon surrender thereof at the principal office of the Trustee with a written instrument of transfer satisfactory to the Trustee, exchange a Bond or Bonds for a Bond or Bonds of equal aggregate principal amount of the same maturity and interest rate of any authorized denominations. For .every exchange or transfer of Bonds, the Trustee may make a charge sufficient to reimburse it for any tax, fee or other governmental charge required to be paid with respect to such exchange or transfer, which shall be paid by the person requesting such exchange or transfer as a condition precedent to the exercise of the privilege of making such exchange or transfer. The cost of preparing each new Bond upon each exchange or transfer, and any other expenses of the Trustee incurred in connection therewith (except any applicable tax, fee or other governmental charge) shall be paid by the Authority. The Trustee shall not be obliged to make any transfer or exchange of any Bond called for redemption within thirty days of .the redemption date. -12-