06-054 - Laserfiche WebLink

Home Browse Search

ggregate principal amount and maturity as requested by the registered owner or the wner's attorney in writing. (d) Cancellation. Bonds surrendered upon transfer or exchange will be romptly cancelled by the Registrar and thereafter disposed of as directed by the City. (e) Improper or Unauthorized Transfer. When a Bond is presented to the egistrar for transfer, the Registrar may refuse to transfer the Bond until the Registrar is atisfied that the endorsement on such Bond or separate instrument of transfer is valid d genuine and that the requested transfer is legally authorized. The Registrar will incur o liability for the refusal, in good faith, to make transfers which it, in its judgment, eems improper or unauthorized. (f) Persons Deemed Owners, The City and the Registrar may treat the person whose name a Bond is registered in the bond register as the absolute owner of the and, whether the Bond is overdue or not, for the purpose of receiving payment of, or on ccount of, the principal of and interest on the Bond and for all other purposes, and ayments so made to a registered owner or upon the owner's order will be valid and ffectual to satisfy and discharge the liability upon the Bond to the extent of the sum or urns so paid. (g) Taxes. Fees and Charges. The Registrar may impose a charge upon the wner thereof for a transfer or exchange of Bonds sufficient to reimburse the Registrar or any tax, fee or other governmental charge required to be paid with respect to the ransfer or exchange. (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, pan the payment of the reasonable expenses and charges of the Registrar in connection herewith; 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 ndenmity in fonn, substance and amount satisfactory to the Registrar, in which both the ity and the Registrar must be named as obligees. Bonds so surrendered to the Registrar '11 be cancelled by the Registrar and evidence of such cancellation must be given to the ity. If the mutilated, destroyed, stolen or lost Bond has already matured or been called or redemption in accordance with its tenns it is not necessary to issue a new Bond prior o payment. (i) Redemotion, 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 5 I q