CCAgenda_93Apr14 - Laserfiche WebLink

Home Browse Search

APR 08 '93 11: 56AM EFL ASSOCIATES P.12/23 maturity, as requested by the registered owner or the owners attorney duly authorized in -writing. cantaikligla. All Bonds surrendered upon any transfer or exchange shall be promptly cancelled by the Registrar and thereafter dispersed ci as directed by the City. (e) rhugmeritdill. When arty Bond is presented to the Registrar for transfer, the Registrar may refuse to transfer the same until it is satisfied that the endorsement on such Bond or separate instrument of transfer is valid and genuine and that the requested transfer is legally authorized The Registrar shall incur no liability for its refusal, in good faith, to make transfers which it, in its judgment, deems improper or unauthorized. (f) EaStatnegMLCbd DICE. The City and the Registrar may treat the person in whose name any Bond is at any time registered in the bond register as the absolute owner of such Bond, whether such Bond shall be overdue or not, for the purpose of receiving payment of, or on account of, the principal of and interest on such Bond and for all other purposes, and all such payrrtents so made to any such registered owner or upon the owners order shall be valid and effectual to satisfy and discharge the liability of the City upon such fk:gad to the extent of the sum or sums so paid. (g) I For every transfer or exchange of Bonds (except for an exchange upon a partial redemption of a Bond), the Registrar may impose a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, fee or other governmental charge required to be paid with respect to such transfer or exchange. h) Mutilated. Lost, Stolen or ed Donds. In case any Bond shall became mutilated or be kist, stolen or destroyed, the Registrar shall deliver a new Bond of like amount, number, interest rate, maturity date and tenor in exchange and substitution for and upon cancellation of any such mutilated Bond or in lieu of and in substitution for any such Bond lost, stolen or destroyed, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case of a Bond lost, stolen or destroyed, upon receipt by the Registrar of evidence satisfactory to it that such Bond was lost, stolen or destroyed, and of the ownership thereof, and upon receipt by the Registrar of an appropriate bond or hviemnity in form, substance and amount satisfactory to it in which both the City and the Registrar shall be named as obligees. All Bonds so surrendered to the Registrar shall be cancelled by it and evidence of such cancellation shall be -9-