Agenda - Council - 08/13/2013 - Laserfiche WebLink

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Every substitute Bond issued pursuant to the provisions of this Section by virtue of the fact that any Bond is lost, mutilated, stolen, destroyed or improperly canceled shall constitute an additional contractual obligation of the Issuer, whether or not the lost, destroyed or improperly canceled Bond shall be at any time enforceable, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Bonds duly issued hereunder. All Bonds shall be held and owned upon the express condition that, to the extent permitted by law, the foregoing provisions are exclusive with respect to the replacement or payment of lost, mutilated, stolen, destroyed or improperly canceled Bonds, notwithstanding any law or statute now existing or hereafter enacted. Section 2.08 Registration, Transfer and Exchange of the Bonds; Persons Treated as Registered Owners. The Trustee is hereby constituted and appointed the Bond Registrar of the Issuer and shall keep for and on behalf of the Issuer books for the registration and for the transfer of the Bonds as provided in this Indenture. The principal of any Bond shall be payable only to or upon the order of the Registered Owner or his legal representative. Upon surrender for transfer of any Bond at the designated corporate trust office of the Trustee, duly endorsed for transfer or accompanied by an assignment duly executed by the Registered Owner or his attorney duly authorized in writing, the Issuer shall execute and the Trustee shall authenticate, date and deliver in the name of the transferee or transferees a new Bond or Bonds for a like aggregate principal amount. Bonds may be exchanged at the designated corporate trust office of the Trustee for a like aggregate principal amount of Bonds of other authorized denominations of the same series, date, interest rate and maturity. The Issuer shall execute and the Trustee shall authenticate and deliver Bonds which the Registered Owner making the exchange is entitled to receive, bearing numbers not contemporaneously then outstanding. The execution by the Issuer of any Bond of any denomination shall constitute full and due authorization of such denomination, and the Trustee shall thereby be authorized to authenticate and deliver such Bond. In each case, the Trustee shall require the payment by the Registered Owner requesting exchange or transfer of any tax or other governmental charge required to be paid with respect to such exchange or transfer and of any other expenses necessarily incurred in connection with such transfer. The person in whose name any Bond shall be registered shall be deemed and regarded as thc absolute owner thereof for al] purposes, and payment of either principal or interest on any Bond shall be made only to or upon the written order of the Registered Owner thereof or his legal representative, but such registration may be changed as hereinabove provided. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. Section 2.09 Destruction of Bonds. Whenever any Outstanding Bond shall be delivered to the Trustee for cancellation pursuant to this Indenture, upon payment of the principal amount or interest represented thereby, or for replacement pursuant to Section 2.07 hereof or for transfer pursuant to Section 2.08 hereof, such Bond shall be promptly canceled and cremated or otherwise destroyed by the Trustee in accordance with its record retention policies then in effect . Section 2.10 Teinporary Bonds. Until Bonds in definitive form arc ready for delivery, the Issuer may execute, and upon the request of the Issuer, thc Trustee shall authenticate and deliver, subject to the provisions, limitations and conditions set forth above, one or more Bonds in temporary form, whether printed, typewritten, lithographed or otherwise produced, substantially in the form of the definitive Bonds, with appropriate omissions, variations and insertions, and in authorized denominations. Until exchanged for Bonds in definitive form, such Bonds in temporary form shall be entitled to the lien and benefit of this Indenture. Upon the presentation and surrender of any Bond or Bonds in temporary form, the Issuer shall, without unreasonable delay, prepare, execute and deliver to the Trustee, and the 15 5600797v I