|
(g) Taxes, Fees and Charges. For every transfer or exchange of Bonds
<br /> (except for an exchange upon a partial redemption of a Bond), the Registrar may impose
<br /> a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, fee or
<br /> other governmental charge required to be paid with respect to such transfer or exchange.
<br /> (h) Mutilated, Lost, Stolen or Destroyed Bonds. In case any Bond shall
<br /> become mutilated or be lost, stolen or destroyed, the Registrar shall deliver a new Bond
<br /> of like amount, number, interest rate, maturity date and tenor in exchange and
<br /> substitution for and upon cancellation of any such mutilated Bond or in lieu of and in
<br /> substitution for any such Bond lost, stolen or destroyed, upon the payment of the
<br /> reasonable expenses and charges of the Registrar in connection therewith; and, in the case
<br /> of a Bond lost, stolen or destroyed, upon receipt by the Registrar of evidence satisfactory
<br /> to it that such Bond was lost, stolen or destroyed, and of the ownership thereof, and upon
<br /> receipt by the Registrar of an appropriate bond or indemnity in form, substance and
<br /> amount satisfactory to it, in which both the City and the Registrar shall be named as
<br /> obligees. All Bonds so surrendered to the Registrar shall be cancelled by it and evidence
<br /> of such cancellation shall be given to the City. If the mutilated, lost, stolen or destroyed
<br /> Bond has already matured or been called for redemption in accordance with its terms, it
<br /> shall not be necessary to issue a new Bond prior to payment.
<br /> (i) Authenticating Agent. The Registrar is hereby designated authenticating
<br /> agent for the Bonds, within the meaning of Minnesota Statutes, Section 475.55,
<br /> Subdivision 1.
<br /> 3.04. Appointment of Initial Re istrar. The City hereby appoints Bond Trust Services
<br /> Corporation in Roseville, Minnesota, as the initial Registrar. The Mayor and City Manager are
<br /> authorized to execute and deliver, on behalf of the City, a contract with Bond Trust Services
<br /> Corporation, as Registrar. Upon merger or consolidation of the Registrar with another
<br /> corporation, if the resulting corporation is a bank or trust company authorized by law to conduct
<br /> such business, such corporation shall be authorized to act as successor Registrar. The City
<br /> agrees to pay the reasonable and customary charges of the Registrar for the services performed.
<br /> The City reserves the right to remove any Registrar upon thirty (30) days' notice and upon the
<br /> appointment of a successor Registrar, in which event the predecessor Registrar shall deliver all
<br /> cash and Bonds in its possession to the successor Registrar. On or before each principal or
<br /> interest due date, without further order of this Council, the Finance Director shall transmit to the
<br /> Registrar from the 2011B Improvement Bond Fund described in Section 5 hereof, moneys
<br /> sufficient for the payment of all principal and interest then due.
<br /> 3.05. Redemption. Bonds maturing in the years 2013 through 2019 shall not be subject
<br /> to redemption prior to maturity, but Bonds maturing in the years 2020 and thereafter shall each
<br /> be subject to redemption and prepayment, at the option of the City, in whole or in part, and if in
<br /> part, in the maturities selected by the City and, within any maturity, in $5,000 principal amounts
<br /> selected by the Registrar by lot, on February 1, 2019 and on any date thereafter at a price equal
<br /> to the principal amount thereof to be redeemed plus interest accrued to the date of redemption.
<br /> [Bonds maturing in the year shall be subject to mandatory sinking fund
<br /> redemption by lot at a redemption price equal to the principal amount of the Bonds to be so
<br /> -8-
<br />
|