08/13/1990 Council Minutes (2) - Laserfiche WebLink

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1 1 (g) Taxes, Fees and Charges. For a transfer or exchange of Bonds, 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 the transfer or exchange. (h) Mutilated, Lost, Stolen or Destroyed Bonds. If a Bond becomes mutilated or is destroyed, stolen or lost, the Registrar will deliver a new Bond of like amount, number, maturity date and tenor in exchange and substitution for and upon cancellation of the mutilated Bond or in lieu of and in substitution for a Bond destroyed, stolen or lost, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case of a Bond destroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory to it that the Bond was destroyed, stolen or lost, and of the ownership thereof, and upon furnishing to the Registrar of an appropriate bond or indemnity in form, substance and amount satisfactory to it and as provided by law, in which both the City and the Registrar must be named as obligees. Bonds so surrendered to the Registrar will be cancelled by the Registrar and evidence of such cancellation must be given to the City. If the mutilated, destroyed, stolen or lost Bond has already matured or been called for redemption in accordance with its terms it is not necessary to issue a r. Bond prior to payment. (i) Redemption. In the event any of the Bonds are called for rede thereof identifying the Bonds to be redeemed will be given by the Regis`: a copy of the redemption notice by first class mail (postage prepaid) no ". and not less than 30 days prior to the date fixed for redemption to owner of each Bond to be redeemed at the address shown on the reg kept by the Registrar and by publishing the notice in the manner r €< Failure to give notice by publication or by mail to any registered owner therein, will not affect the validity of any proceeding for the redem; Bonds so called for red. cease redemption date, provided that the funds for the redemption are on place of payment at that time. 2.04. Appointment of Initial Registrar. The City appoints ' Minnesot Registrar. The Mayor and the City Clerk- Treasurer are authorized to execut behalf of the City, a contract with the Registrar. Upon merger or con:, Registrar with another corporation, if the resulting corporation is a bank authorized by law to conduct such business, such corporation is authc successor Registrar. The City agrees to pay the reaso«able ai.d 1-.:ustoma Registrar for the services performed. The City reserves the right to rem( upon 30 days' notice and upon the appointment of a successor Registrar, i predecessor Registrar must deliver all cash and Bonds in its possession Registrar and must deliver the bond register to the successor Registrar. ( principal or interest due date, without further order of this Council, the Cie° transmit to the Registrar moneys sufficient for the payment of all prir then due. ption, notice ar by mailing more than 60 .e registered .ration books 'ired by law. ,try defect an of Bonds. '-te specified .)sit with the s the initial d deliver, on ation of the At company 3 to act as arges of the he Registrar cat event the re successor before each asurer must and interest