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2003-211 Council Resolution
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2003-211 Council Resolution
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11/25/2015 1:25:55 PM
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11/25/2015 12:50:06 PM
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City Council
Council Document Type
Resolutions
Meeting Date
11/24/2003
Council Meeting Type
Regular
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(b) Transfer of Bonds. Upon surrender for transfer of the Bonds duly <br />endorsed by the registered owner thereof or accompanied by a written instrument of <br />transfer, in form satisfactory to the Registrar, duly executed by the registered owner <br />thereof or by an attorney duly authorized by the registered owner in writing, the Registrar <br />will [authenticate and] deliver, in the name of the designated transferee or transferees, <br />one or more new Bonds of a like aggregate principal amount and maturity, as requested <br />by the transferor. The Registrar may, however, close the books for registration of any <br />transfer after the fifteenth day of the month preceding each interest payment date and <br />until that interest payment date. <br />(c) Exchange of Bonds. Whenever any Bonds are surrendered by the <br />registered owner for exchange the Registrar will [authenticate and] deliver one or more <br />new Bonds of a like aggregate principal amount and maturity as requested by the <br />registered owner or the owner's attorney in writing. <br />(d) Cancellation. All Bonds surrendered upon transfer or exchange <br />will be promptly cancelled by the Registrar and thereafter disposed of as directed by the <br />City. <br />(e) Improper or Unauthorized Transfer. When any Bond is presented <br />to the Registrar for transfer, the Registrar may refuse to transfer the same until it is <br />satisfied that the endorsement on such Bond or separate instrument of transfer is valid <br />and genuine and that the requested transfer is legally authorized. The Registrar will incur <br />no liability for the refusal, in good faith, to make transfers which it, in its judgment, <br />deems improper or unauthorized. <br />(f) Persons Deemed Owners. The City and the Registrar may treat the <br />person in whose name any Bond is at any time registered in the bond register as the <br />absolute owner of such Bond, whether such Bond will be overdue or not, for the purpose <br />of receiving payment of, or on account of, the principal of and interest on such Bond and <br />for all other purposes, and all such payments so made to any such registered owner or <br />upon the owner's order will be valid and effectual to satisfy and discharge the liability <br />upon the Bond to the extent of the sum or sums so paid. <br />(g) Taxes, Fees and Charges. The Registrar may impose a charge <br />upon the owner thereof for every transfer or exchange of Bonds sufficient to reimburse <br />the Registrar for any tax, fee or other governmental charge required to be paid with <br />respect to such transfer or exchange <br />(h) Mutilated, Lost, Stolen or Destroyed Bonds. In case any Bond <br />becomes mutilated or is destroyed, stolen or lost, the Registrar will deliver a new Bond of <br />like amount, number, maturity date and tenor in exchange and substitution for and upon <br />cancellation of any such mutilated Bond or in lieu of and in substitution for any such <br />SJB-240611v1 <br />LN 140-84 <br />
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