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Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds
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Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds
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6/25/2009 8:45:24 AM
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6/25/2009 8:45:23 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/22/1998
Ord-Res Number
8919-98
Bill Number
51-98
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duly executed by the registered owner or his or her attorney duly authorized in writing, and <br />thereupon a new fully registered 1998 Bond or 1998 Bonds in the same aggregate principal amount <br />and of the same maturity shall be executed and delivered in the name of the transferee or transferees <br />or the registered owner, as the case may be, in exchange therefor. Each 1998 Bond may be <br />transferred or exchanged without cost to the registered owner, except for any tax or other <br />governmental charge which may be required to be paid with respect to such transfer or exchange. <br />The Registrar shall not be obligated to make any transfer or exchange of any 1998 Bond (i) during <br />the fifteen (15) days immediately preceding an Interest Payment Date or (ii) after the mailing of <br />notice calling such 1998 Bond for redemption. The City, the Registrar and the Paying Agent may <br />treat and consider the person in whose name any 1998 Bond is registered as the absolute owner <br />thereof for all purposes including the purpose of receiving payment of, or on account of, the principal <br />thereof, and redemption premium, if any, and interest thereon. <br />In the event any 1998 Bond is mutilated, lost, stolen or destroyed, the City may cause <br />to be executed and the Registrar may authenticate a new 1998 Bond of like date, maturity, series and <br />denomination as the mutilated, lost, stolen or destroyed 1998 Bond, which new 1998 Bond shall be <br />marked in a manner to distinguish it from the 1998 Bond for which it was issued; provided, that in <br />the case of any mutilated 1998 Bond, such mutilated 1998 Bond shall first be surrendered to the <br />Registrar, and in the case of any lost, stolen or destroyed 1998 Bond there shall be first furnished to <br />the Registrar evidence of such loss, theft or destruction satisfactory to the City and the Registrar, <br />together with indemnity satisfactory to them. In the event that any such mutilated, lost, stolen or <br />destroyed 1998 Bond shall have matured or been called for redemption, instead of causing to be <br />issued a duplicate 1998 Bond, the Registraz and Paying Agent may pay the same upon surrender of <br />the mutilated 1998 Bond or upon satisfactory indemnity and proof of loss, theft or destruction in the <br />case of a Lost, stolen or destroyed 1998 Bond. The City and the Registrar and Paying Agent may <br />charge the owner of any such 1998 Bond with their reasonable fees and expenses in connection with <br />the above. Every substitute 1998 Bond issued by reason of any 1998 Bond being lost, stolen or <br />destroyed shall, with respect to such 1998 Bond, constitute a substitute contractual obligation of the <br />City pursuant to this Ordinance, whether or not the lost, stolen or destroyed 1998 Bond shall be <br />found at any time, and shall be entitled to all the benefits of this Ordinance, equally and <br />proportionately with any and all other 1998 Bonds duly issued hereunder. <br />-8- <br />::ODMA\PCDOCS\SBDOCS 1\14947\3 <br />
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