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2006-118 Council Resolution
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2006-118 Council Resolution
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9/17/2014 12:37:21 PM
Creation date
9/17/2014 11:23:56 AM
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City Council
Council Document Type
Master List Resolution
Meeting Date
07/24/2006
Council Meeting Type
Regular
Resolution #
06-118
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• <br />• <br />after the fifteenth day of the month preceding each interest payment date and until that <br />interest payment date. <br />(c) Exchange of Bonds. When Bonds are surrendered by the registered owner <br />for exchange the Registrar will authenticate and deliver one or more new Bonds of a like <br />aggregate principal amount and maturity as requested by the registered owner or the <br />owner's attorney in writing. <br />(d) Cancellation. Bonds surrendered upon transfer or exchange will be <br />promptly cancelled by the Registrar and thereafter disposed of as directed by the City. <br />(e) Improper or Unauthorized Transfer. When a Bond is presented to the <br />Registrar for transfer, the Registrar may refuse to transfer the Bond until the Registrar is <br />satisfied that the endorsement on the Bond or separate instrument of transfer is valid and <br />genuine and that the requested transfer is legally authorized. The Registrar will incur no <br />liability for the refusal, in good faith, to make transfers which it, in its judgment, deems <br />improper or unauthorized. <br />(f) Persons Deemed Owners. The City and the Registrar may treat the person <br />in whose name a Bond is registered in the bond register as the absolute owner of the <br />Bond, whether the Bond is overdue or not, for the purpose of receiving payment of, or on <br />account of, the principal of and interest on the Bond and for all other purposes, and <br />payments so made to a registered owner or upon the owner's order will be valid and <br />effectual to satisfy and discharge the liability upon the Bond to the extent of the sum or <br />sums so paid. <br />(g) Taxes, Fees and Charges. The Registrar may impose a charge upon the <br />owner thereof for a transfer or exchange of Bonds sufficient to reimburse the Registrar <br />for any tax, fee or other governmental charge required to be paid with respect to the <br />transfer or exchange. <br />(h) Mutilated, Lost, Stolen or Destroyed Bonds. If a Bond becomes mutilated <br />or is destroyed, stolen or lost, the Registrar will deliver a new Bond of like amount, <br />number, maturity date and tenor in exchange and substitution for and upon cancellation <br />of the mutilated Bond or in lieu of and in substitution for a Bond destroyed, stolen or lost, <br />upon the payment of the reasonable expenses and charges of the Registrar in connection <br />therewith; and, in the case of a Bond destroyed, stolen or lost, upon filing with the <br />Registrar of evidence satisfactory to it that the Bond was destroyed, stolen or lost, and of <br />the ownership thereof, and upon furnishing to the Registrar of an appropriate bond or <br />indemnity in form, substance and amount satisfactory to it and as provided by law, in <br />which both the City and the Registrar must be named as obligees. Bonds so surrendered <br />to the Registrar will be cancelled by the Registrar and evidence of such cancellation must <br />be given to the City. If the mutilated, destroyed, stolen or lost Bond has already matured <br />293490v1 SJB LN140 -95 <br />4 <br />
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