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No. 2390 a bond resolution authorizing the issuance of City of South Bend, Indiana, Redevelopment District Tax Increment Revenue Bonds of 2007 (Douglas Road Economic Development Area project)
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No. 2390 a bond resolution authorizing the issuance of City of South Bend, Indiana, Redevelopment District Tax Increment Revenue Bonds of 2007 (Douglas Road Economic Development Area project)
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Original Date. Bonds authenticated after July 15, 2008, shall pay interest from the interest <br />payment date immediately preceding the date of authentication of such Bonds unless the Bonds <br />are authenticated between the fifteenth day of the month preceding an interest payment date and <br />the interest payment date, in which case interest thereon shall be paid from such interest payment <br />date. <br />Each Bond shall be transferable or exchangeable only upon the Bond Register by <br />the registered owner thereof in person, or by his attorney duly authorized in writing, upon <br />surrender of such Bond together with a written instrument of transfer or exchange satisfactory to <br />the Registrar duly executed by the registered owner or his attorney duly authorized in writing, <br />and thereupon a new fully registered Bond or Bonds in the same aggregate principal amount and <br />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. Bonds may be transferred or <br />exchanged without cost to the registered owner, except for any tax or governmental charge <br />required to be paid with respect to the exchange. The Registrar shall not be required to transfer <br />or exchange any Bond called for redemption or during the period from the fifteenth day of any <br />calendar month immediately preceding an interest payment date to such interest payment date. <br />The City, the Commission, the Registrar and the Paying Agent may treat and consider the person <br />in whose name such Bonds are registered as the absolute owner thereof for all purposes <br />including for the purpose of receiving payment of, or on account of, the principal thereof and <br />interest due thereon. <br />In the event any Bond is mutilated, lost, stolen or destroyed, the City may execute <br />on behalf of the Redevelopment District and the registrar may authenticate a new Bond of like <br />date, maturity and denomination as that mutilated, lost, stolen or destroyed, which new Bond <br />shall be marked in a manner to distinguish it from the Bond for which it was issued; provided, <br />that in the case of any mutilated Bond, such mutilated Bond shall first be surrendered to the <br />Registrar, and in the case of any lost, stolen or destroyed Bond there shall be first furnished to <br />the City and the Registrar evidence of such loss, theft or destruction satisfactory to the City and <br />the Registrar, together with indemnity satisfactory to them. In the event any such lost, stolen or <br />destroyed Bond shall have matured, instead of issuing a duplicate Bond, the City and the <br />Registrar may, upon receiving indemnity satisfactory to them, pay the same without surrender <br />thereof. The City and the Registrar may charge the owner of such Bond with their reasonable <br />fees and expenses in connection with the above. Every substitute Bond issued by reason of any <br />Bond being lost, stolen or destroyed shall, with respect to such Bonds, constitute a substitute <br />contractual obligation of the City, acting for and on behalf of the Redevelopment District, <br />whether or not the lost, stolen or destroyed Bond shall be found at any time, and shall be entitled <br />to all the benefits of this Resolution, equally and proportionately with any and all other Bonds <br />duly issued hereunder. <br />The Registrar or the Paying Agent may at any time resign as Registrar or Paying <br />Agent by giving thirty (30) days' written notice to the Commission and by first-class mail to each <br />registered owner of Bonds then outstanding, and such resignation will take effect at the end of <br />such thirty (30) days or upon the earlier appointment of a successor Registrar or Paying Agent, <br />as the case may be, by the Commission. Such notice to the Commission may be served <br />BDDBOI 4912282v3 - 6 - <br />
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