Autthorizing the acquistion, construction, and installation of certain improvements and extensions to sewage works, the issuance and sale of additional revenue bonds

Home Browse Search

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