04-10-1985 Council Agenda - Laserfiche WebLink

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Bonds for payment. Any funds remaining in the possession of the Registrar for payment of the Bonds five (5) years after the date for the payment thereof has expired shall, subject to any applicable escheat law, be returned to the Issuer upon demand. 1.10. Instructions from Issuer. The Registrar in respect to any matter arising in connection with said agency, may apply to, and act under the instructions of, the of the Issuer, and, in respect to any legal question arising in connection with said agency, may apply to, and act under the instructions of 1.11. Delivery of Records to Issuer; Retention. The Registrar may, from time to time at its discretion, deliver to the Issuer, for safekeeping or disposition by the Issuer in accordance with law, such records accumulated in the performance of its duties as it may deem expedient, and the Issuer assumes all responsibility for any failure thereafter to produce any paper, record Or document so returned, if and when required. Section 2. Issuer's Duties. 2.1. Provision of Executed Bonds. The Issuer shall provide the Registrar with such executed Bonds as are required to issue Bonds in exchange for or upon transfer of outstanding Bonds. 2.2. Provision of Funds to Pay Principal and Interest. The Issuer shall remit available funds to the Registrar on or before each interest payment date in the sum needed for payment of the Bonds and interest thereon due on said date. 2.3. Payment of Fees and Charges of Registrar. The Issuer shall pay to the Registrar reasonable fees and charges for services performed hereunder in accordance with the Registrar's fee schedule in effect at the time of the service. The fees and charges of said Registrar shall in no event become a charge against the funds remitted by the Issuer for payment of principal and interest on the Bonds. 2.4. Failure to Provide Funds. If available funds needed for payment do not reach the Registrar by any interest payment date, payment of items may be refused and the Issuer may be charged for reasonable expenses incurred and extra service performed in accordance with the Registrar's schedule in effect at the time of the payment date. 2"