Laserfiche WebLink
<br />16 <br />The proceeds of the Bonds shall be paid over to the Trustee and deposited to the <br />Project Fund as hereinafter provided under Section 3.1 hereof. <br />Mutilated, Lost, Stolen or Destroyed Bonds. In the event any Bond is mutilated, lost, stolen or <br />destroyed, the Issuer, through the Trustee, may execute and the Trustee may authenticate a new <br />Bond of like date, maturity and denomination as that mutilated, lost, stolen or destroyed; provided <br />that, in the case of any mutilated Bond, such mutilated Bond shall first be surrendered to the Issuer, <br />and in the case of any lost, stolen or destroyed Bond, there shall be first furnished to the Trustee <br />evidence of such loss, theft or destruction satisfactory to the Trustee, together with indemnity <br />satisfactory to it. <br />In the event any such Bond shall have matured or been called for redemption in <br />full, instead of issuing a duplicate Bond the Issuer may pay the same without surrender thereof; <br />provided, however, that in the case of a lost, stolen or destroyed Bond, there shall be first furnished <br />to the Trustee evidence of such loss, theft or destruction satisfactory to the Trustee; together with <br />indemnity satisfactory to it. The Trustee may charge the holder or owner of such Bond with their <br />reasonable fees and expenses in this connection. Any Bond issued pursuant to this Section 2.8 shall <br />be deemed part of the original series of Bonds in respect of which it was issued and an original <br />additional contractual obligation of the Issuer. <br />Registration and Exchange of Bonds: Persons Treated as Owners. The Issuer shall cause books <br />for the registration and for the transfer of the Bonds as provided in this Indenture to be kept by the <br />Trustee which is hereby constituted and appointed the registrar of the Issuer. Upon surrender for <br />transfer of any fully registered Bond at the principal office of the Trustee, duly endorsed by, or <br />accompanied by a written instrument or instruments of transfer in form satisfactory to the Trustee <br />and duly executed by the registered owner or his attorney duly authorized in writing, the Issuer <br />shall execute and the Trustee shall authenticate and deliver in the name of the transferee or <br />transferees a new fully registered Bond or Bonds of the same series and the same maturity for a <br />like aggregate principal amount. The execution by the Issuer of any fully registered Bond without <br />coupons of any denomination shall constitute full and due authorization of such denomination, and <br />the Trustee shall thereby be authorized to authenticate and deliver such registered Bond. The costs <br />of such transfer or exchange shall be borne by the Issuer. The Trustee shall not be required to <br />transfer or exchange any fully registered Bond during the period between the Record Date and any <br />interest payment date of such Bond, nor to transfer or exchange any Bond after the mailing of <br />notice calling such Bond for redemption has been made, nor during a period of fifteen (15) days <br />next preceding mailing of a notice of redemption of any Bonds. <br />As to any fully registered Bond without coupons, the person in whose name the <br />same shall be registered shall be deemed and regarded as the absolute owner thereof for all <br />purposes, and payment of principal or interest thereon, shall be made only to or upon the order of <br />the registered owner thereof or his legal representative, but such registration may be changed as <br />hereinabove provided. All such payments shall be valid and effectual to satisfy and discharge the <br />liability upon such Bond to the extent of the sum or sums so paid. <br />Reserved. <br /> <br />(End of Article II)