CC PACKET 05261987 - Laserfiche WebLink

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owner of such. Bond, whether such Bond shall be. overdue or • not, for the. .purpose of receiving -payment of, or on account of, the principal of and interest on such Bond and for all other purposes, and all ' such payments so made to -any such registered owner or upon the owner ' s order shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. .( g) Taxes , Fees' and Charges. For every 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 such transfer or exchange. (h ) Mutilated, Lost, Stolen or Destroyed Bonds . In case any Bond shall become mutilated or be destroyed, stolen or lost, the Registrar shall deliver a new Bond of like amount, number, maturity date and tenor in excnange and substitution for and upon cancellation of any such mutilated Bond or in lieu of and in substitution for any such 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 such 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 , in which both the City and the Registrar shall be named as obligees . All Bonds so surrendered to the Registrar shall be cancelled by it and evidence of such cancellation shall 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 shall not be necessary to issue a new Bond prior to payment. 2 .04 . Appointment of Initial Registrar . The City hereby appoints , , . , as the initial Registrar. The Mayor and the Clerk are authorized to execute and deliver, on behalf of the City, a contract with said Registrar.. Upon merger or consolidation of the Registrar with another corporation, if the resulting corporation is a bank or trust company authorized by law to conduct such business, such corporation shall be authorized to act as successor Registrar. The City agrees to pay the reasonable and customary charges of the Registrar for the services performed. The City reserves the right to remov.e the Registrar upon thirty ( 30) days notice and upon the appointment of a successor Registrar, in which event the predecessor Registrar shall deliver all cash and • -6-