2018-105 - Laserfiche WebLink

Home Browse Search

Certificate of like amount, number, maturity date and tenor in exchange and substitution for and upon cancellation of such mutilated Certificate or in lieu of and in substitution for any such Certificate 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 Certificate destroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory to the Registrar that such Certificate was destroyed, stolen or lost, and of the ownership thereof, and upon furnishing to the Registrar an appropriate certificate or indemnity in form, substance and amount satisfactory to the Registrar, in which both the City and the Registrar will be named as obligees. Upon surrender to the Registrar, the Certificate will be cancelled by the Registrar and evidence of such cancellation will be given to the City. If the mutilated, destroyed, stolen or lost Certificate has already matured or been called for redemption in accordance with its terms it will not be necessary to issue a new Certificate prior to payment. (i) Redgmptio . In the event any installment of principal on the Certificate is called for redemption, notice will be given by the Registrar by mailing a copy of the redemption notice by first class mail (postage prepaid) not more than 60 and not less than 30 days prior to the date fixed for redemption to the registered owner of the Certificate at the address shown on the registration books kept by the Registrar and by publishing the notice if required by law. Failure to give notice by publication or by mail to any registered owner, or any defect therein, will not affect the validity of the proceedings for the redemption of installment of principal of the Certificate. Upon redemption, the installment of principal on the Certificate so redeemed will cease to bear interest after the specified redemption date, provided that the funds for the redemption are on deposit with the place of payment at that time. 3.04. Execution and Delivery. The Certificate will be prepared under the direction of the City Clerk and will be executed on behalf of the City by the signatures of the Mayor and the City Clerk. In case any officer whose signature appears on the Certificate will cease to be such officer before the delivery of the Certificate, such signature will nevertheless be valid and sufficient for all purposes, the same as if the officer had remained in office until delivery. When the Certificate have been so prepared, executed, the City Clerk will deliver the same to the Purchaser thereof upon payment of the purchase price and the Purchaser will not be obligated to see to the application of the purchase price. Section 4. 4.01. Form of Certificate. The Certificate will be printed or typewritten in substantially the form attached hereto as Exhibit A. 4.02. Approving Legal Opinion. The City Clerk is authorized and directed to obtain a copy of the proposed approving legal opinion of Kennedy & Graven, Chartered, Minneapolis, Minnesota, which will be complete except as to dating thereof and to cause the opinion to be printed on or accompany the Certificate. Section 5. PaMcnt: Security. 536168v2 JSB LA515-53 5