Agenda - Council - 05/23/2000 - Laserfiche WebLink

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I I I I ! I I I I I I I I I I I I I I At the option of the Holder, Bonds may be exchanged for Bonds of any Authorized Denomination or Denominations ora like aggregate principal amount and stated maturity, upon surrender of the Bonds to be exchanged at the principal office of the Bond Registrar. Whenever any Bonds are so surrendered for exchange, the City shall execute (if necessary), and the Bond Registrar shall authenticate, insert the date of registration of, and deliver the Bonds which the Holder making the exchange is entitled to receive. All Bonds surrendered upon any exchange or transfer provided for in this resolution shall be promptly canceled by the Bond Registrar and thereafter disposed of as directed by the City. All Bonds delivered in exchange for or upon transfer of Bonds shall be valid general obligations of the City evidencing the same debt, and entitled to the same benefits under this resolution, as the Bonds surrendered for such exchange or transfer. Every Bond presented or surrendered for transfer or exchange shall be duly endorsed or be accompanied by a written instrument of transfer, in form satisfactory m the Bond Registrar, duly executed by the Holder thereof or the Holder's attorney duly authorized in writing. The Bond Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection with the transfer or exchange of any Bond and any legal or unusual costs regarding transfers and lost Bonds. Transfers shall also be subject to reasonable regulations of the City contained in any agreement with the Bond Registrar, including regulations which permit the Bond Registrar to close its transfer books between record dates and payment dates. The Administrator is hereby authorized to negotiate and execute the terms of said agreement. t 1. Rh~hts U¢on Transfer or Exchanee. Each Bond delivered upon transfer of or in exchange for or in lieu of any other Bond shall carry all the rights lo interest accrued and unpaid, and to accrue, which were carried by such other Bond. 12..Iht.crest P. aym._ent~ Record Date. Interest on any Bond shall be paid on each Interest Payment Date by check or draft mailed to the person in whose name the Bond is registered (the "Holder") on the registration books of the City maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth [ 15th) day of the calendar month next preceding such Interest Payment Dare (the "Regular Record Date"). Any such interest not so timely paid shall cease to be payable ~o the person who is the Holder thereof as of the Regular Record Date~ and shall be payable to the person who is the Holder the. reof at the close of business on a date (the "Special Record Date") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record