1992-06-18 Resolution 56 - Laserfiche WebLink

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Sec. 2.05. The Bonds. so executed by the Authority and authenticated by the Trustee shall be delivered by the Trustee to the purchasers thereof in the amount, at the time, and upon the payment of the purchase price thereof, as requested in writing by the Authority. Sec. 2.06. In case any Bond issued under this Agreement shall become mutilated or be destroyed, stolen or lost, the Authority, in its discretion, may issue, and thereupon said Trustee shall certify and deliver in exchange for and in place and upon cancellation of the mutilated Bond, or in lieu of and substitution for the same if destroyed, stolen or lost, a new Bond of like denomination and tenor, but which, in the discretion of the 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 • -12-