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01-016
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Resolutions 2001
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7/15/2005 10:20:01 AM
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7/14/2005 8:18:39 AM
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<br />(a) Register. The Registrar must keep at its principal corporate trust office a <br />bond register in which the Registrar provides for the registration of ownership of Bonds and <br />the registration of transfers and exchanges of Bonds entitled to be registered, transferred or <br />exchanged. <br /> <br />(b) Transfer of Bonds. Upon surrender for transfer of a 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 attorney <br />duly authorized by the registered owner in writing, the Registrar will authenticate and <br />deliver, in the name of the designated transferee or transferees, one or more new Bonds of a <br />like aggregate principal amount and maturity, as requested by the transferor. The Registrar <br />may, however, close the books for registration of any transfer after the fifteenth day of the <br />month preceding each interest payment date and until that interest payment date. <br /> <br />(c) Exchange of Bonds. When Bonds are surrendered by the registered owner <br />for exchange the Registrar will authenticate and deliver one or more new Bonds of a like <br />aggregate principal amount and maturity as requested by the registered owner or the owner's <br />attorney in writing. <br /> <br />(d) Cancellation. Bonds surrendered upon transfer or exchange will be promptly <br />cancelled by the Registrar and thereafter disposed of as directed by the City. <br /> <br />(e) Improper or Unauthorized Transfer. When a Bond is presented to the <br />Registrar for transfer, the Registrar may refuse to transfer the Bond until the Registrar is <br />satisfied that the endorsement on such Bond or separate instrument of transfer is valid and <br />genuine and that the requested transfer is legally authorized. The Registrar will incur no <br />liability for the refusal, in good faith, to make transfers which it, in its judgment, deems <br />improper or unauthorized. <br /> <br />(f) Persons Deemed Owners. The City and the Registrar may treat the person in <br />whose name a Bond is registered in the bond register as the absolute owner of the Bond, <br />whether the Bond is overdue or not, for the purpose of receiving payment of, or on account <br />of, the principal of and interest on the Bond and for all other purposes, and payments so <br />made to a registered owner or upon the owner's order will be valid and effectual to satisfY <br />and discharge the liability upon the Bond to the extent of the sum or sums so paid. <br /> <br />(g) Taxes. Fees and Charges. The Registrar may impose a charge upon the <br />owner thereof for a transfer or exchange of Bonds sufficient to reimburse the Registrar for <br />any tax, fee or other governmental charge required to be paid with respect to the transfer or <br />exchange. <br /> <br />(h) Mutilated, Lost Stolen or Destroyed Bonds. If a Bond becomes mutilated or <br />is destroyed, stolen or lost, the Registrar will deliver a new Bond of like amount, number, <br />maturity date and tenor in exchange and substitution for and upon cancellation of the <br /> <br />SJB-192217vl <br />NE136-J66 <br />
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