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1988-06-14 Minutes
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1988-06-14 Minutes
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serial number, be marked "Duplicate," or be otherwise <br />distinguished. In case of destruction, theft or loss, the <br />applicant for a substituted Bond shall furnish to the Authority <br />and said Trustee evidence of the destruction of such Bond so <br />destroyed, which evidence must be satisfactory to the Authority <br />and said Trustee, in their discretion, and said applicant shall <br />also furnish indemnity satisfactory to both of them in their <br />discretion. The Authority shall have the right to require the <br />payment of the expense of issuing such replacement prior to the <br />delivery of a new Bond. <br />Sec. 2.07. The Trustee .shall keep, at its principal <br />office, a record for the registration of Bonds issued hereunder <br />which shall, at all reasonable times, be open for inspection by <br />the Authority. <br />Each registered-Bond shall be transferable only on such <br />record at the principal office of the Trustee, at the written <br />request of the registered owner thereof or his attorney duly <br />authorized in writing, upon surrender thereof, together with a <br />written instrument of transfer satisfactory to the Trustee duly <br />executed by the registered owner or his duly authorized attorney. <br />Sec. 2.08. The Authority and the Trustee may deem and <br />treat the person in whose name any Bond issued hereunder shall be <br />registered as the absolute owner of such Bond for the purpose of <br />receiving payment of or on account of the principal of said Bond, <br />and for all other purposes whatsoever. <br />Sec. 2.09. Registered owners of Bonds. may, upon <br />surrender thereof at the principal office of the Trustee with a <br />written instrument of transfer satisfactory to the Trustee, <br />exchange a Bond or:Bonds for a Bond or Bonds of equal aggregate <br />principal amount of the same maturity and interest rate of any <br />authorized denominations. For every exchange or transfer of <br />Bonds, the Trustee may make a charge sufficient to reimburse it <br />for any tax, fee or other governmental charge .required to be paid <br />with respect to such exchange or transfer, which shall be paid by <br />the person requesting such exchange or transfer as a condition <br />precedent to the exercise of the privilege of making such <br />exchange or transfer. The cost of preparing each new Bond upon <br />each exchange or transfer, and any other expenses of the Trustee <br />incurred in connection therewith (except any applicable tax, fee <br />or other governmental charge) shall be paid by the Authority. <br />The Trustee shall not be obliged to make any transfer or exchange <br />of any Bond called for redemption within thirty days of the <br />redemption date. <br />ARTICLE III. <br />. Funds <br />Sec. 3.01. There is hereby established and created a <br />fund designated as the "South Bend Redevelopment Authority <br />.; Parking Garage Facility Construction Fund." The Construction <br />., <br />•a <br />°. -11- <br />
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