04-079 - Laserfiche WebLink

Home Browse Search

II I .. ; /. i I , (h) Mutilated, Lost. Stolen or Destroved Bonds. If a Bond becomes mutilated r is destroyed, stolen or lost, the Registrar will deliver a new Bond of like amount, umber, maturity date and tenor in exchange and substitution for and upon cancellation f the mutilated Bond or in lieu of and in substitution for a Bond destroyed, stolen or lost, pon the payment of the reasonable expenses and charges of the Registrar in connection erewith; and, in the case of a Bond destroyed, stolen or lost, upon filing with the egistrar of evidence satisfactory to it that the Bond was destroyed, stolen or lost, and of e ownership thereof, and upon furnishing to the Registrar an appropriate bond or demnity in form, substance and amount satisfactory to it and as provided by law, in hich both the City and the Registrar must be named as obligees. Bonds so surrendered o the Registrar will be cancelled by the Registrar and evidence of such cancellation must e given to the City. Ifthe mutilated, destroyed, stolen or lost Bond has already matured r been called for redemption in accordance with its terms it is not necessary to issue a ew Bond prior to payment. (i) Redemption. In the event any of the Bonds are called for redemption, otice thereof identifying the Bonds to be redeemed will be given by the Registrar by ailing a copy of the redemption notice by first class mail (postage prepaid) to the egistered owner of each Bond to be redeemed at the address shown on the registration ooks kept by the Registrar and by publishing the notice if required by law. Failure to ive notice by publication or by mail to any registered owner, or any defect therein, will ot affect the validity of the proceedings for the redemption of Bonds. Bonds so called or redemption will cease to bear interest after the specified redemption date, provided hat the funds for the redemption are on deposit with the place of payment at that time. .04. Appointment of Initial Registrar. The City appoints Wells Fargo Bank, National ssociation, Minneapolis, MilUlesota, as the initial Registrar. The Mayor and the City anager are authorized to execute and deliver, on behalf of the City, a contract with the egistrar. Upon merger or consolidation of the Registrar with another corporation, if the esulting corporation is a bank or trust company authorized by law to conduct such usiness, the resulting corporation is authorized to act as successor Registrar. The City grees to pay the reasonable and customary charges of the Registrar for the services erformed. The City reserves the right to remove the Registrar upon 30 days' notice and pon the appointment of a successor Registrar, in which event the predecessor Registrar must deliver all cash and Bonds in its possession to the successor Registrar and must deliver the bond register to the successor Registrar. On or before each principal or interest due date, without further order of this Council, the City Finance Director must transmit to the Registrar monies sufficient for the payment of all principal and interest then due. 2.05. Execution. Authentication and Delivery. The Bonds will be prepared under the direction of the City Manager and executed on behalf of the City by the signatures of the Mayor and the City Manager, provided that those signatures may be printed, engraved or lithographed facsimiles of the originals. If an officer whose signature or a facsimile of whose signature appears on the Bonds ceases to be such officer before the delivery of a S18-252 Ovl NE 136-