Laserfiche WebLink
31 <br />2.03. Registration. The City shall appoint, and shall maintain, a bond registrar, transfer <br />agent and paying agent (the "Registrar"). The effect of registration and the rights and duties of <br />the City and the Registrar with respect thereto shall be as follows: <br />(a) Register. The Registrar shall keep at its principal corporate trust office a bond <br />register in which the Registrar shall provide for the registration of ownership of Bonds <br />and the registration of transfers and exchanges of Bonds entitled to be registered, <br />transferred or exchanged. <br />(b) Transfer of Bonds. Upon surrender for transfer of any Bond duly endorsed by <br />the registered owner thereof or accompanied by a written instrument of transfer, in form <br />satisfactory to the Registrar, duly executed by the registered owner thereof or by an <br />attorney duly authorized by the registered owner in writing, the Registrar shall <br />authenticate and deliver, in the name of the designated transferee or transferees, one or <br />more new Bonds of a like aggregate principal amount and maturity, as requested by the <br />transferor. The Registrar may, however, close the books for registration of any transfer <br />after the fifteenth day of the month preceding each interest payment date and until such <br />interest payment date. <br />(c) Exchange of Bonds. Whenever any Bonds are surrendered by the registered <br />owner for exchange the Registrar shall authenticate and deliver one or more new Bonds <br />of a like aggregate principal amount and maturity, as requested by the registered owner or <br />the owner's attorney in writing. <br />(d) Cancellation. All Bonds surrendered upon any transfer or exchange shall be <br />promptly canceled by the Registrar and thereafter disposed of as directed by the City. <br />(e) Improper or Unauthorized Transfer. When any Bond is presented to the <br />Registrar for transfer, the Registrar may refuse to transfer the same until it is satisfied that <br />the endorsement on such Bond or separate instrument of transfer is valid and genuine and <br />that the requested transfer is legally authorized. The Registrar shall incur no liability for <br />the refusal, in good faith, to make transfers which it, in its judgment, deems improper or <br />unauthorized. <br />(0 Persons Deemed Owners. The City and the Registrar may treat the person in <br />whose name any Bond is at any time registered in the bond register as the absolute owner <br />of such Bond, whether such Bond shall be overdue or not, for the purpose of receiving <br />payment of, or on account of, the principal of and interest on such Bond and for all other <br />purposes, and all such payments so made to any such registered owner or upon the <br />owner's order shall be valid and effectual to satisfy and discharge the liability upon such <br />Bond to the extent of the sum or sums so paid. <br />(g) Taxes, Fees and Charges. For every transfer or exchange of Bonds (except <br />for an exchange upon a partial redemption of a Bond), the Registrar may impose a charge <br />upon the owner thereof sufficient to reimburse the Registrar for any tax, fee or other <br />governmental charge required to be paid with respect to such transfer or exchange. <br />-3- <br />