Resolution - #04-12-373 - 12/14/2004

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malmq ty, upon surrender of the Certificates to be exchanged at the principal office of the [~cgislrar. Whenever any Certificates are so surrendered for exchange, the City shall execute (if ncccss~ry), and the Registrar shall authenticate, insert the date of registration of, and deliver the (:crli 15 cates which the Holder making the exchange is entitled to receive. All Certificates surrendered upon any exchange or transfer provided for in this resolution shall bc promptly canceled by the Registrar and thereafter disposed of as directed by the City. All Ccrtificates delivered in exchange for or upon transfer of Certificates shall be valid goner;ti obligations of the City evidencing the same debt, and entitled to the same benefits under this r{zsolution, as the Certificates surrendered for such exchange or transfer. l!very Certificate presented or surrendered for transfer or exchange shall be duly o~]¢l<,rscd or bo accompanied by a written instrument of transfer, in form satisfactory to the Rcgistrar, duly executed by the Holder thereof or the Holder's attorney duly authorized in wriling. Thc Registrar may require payment of a sum sufficient to cover any tax or other gowzrmncntal charge payable in connection with the transfer or exchange of any Certificate and legal or mmsual costs regarding transfers and lost Certificates. T~'anst'crs shall also be subject to reasonable regulations of the City contained in any ;~grccmcnt with the Registrar, including regulations which permit the Registrar to close its books between record dates and payment dates. The Administrator is hereby authorized negotiate and execute the terms of said agreement. I 1. Rights Upon Transfer or Exchange. Each Certificate delivered upon transfer of or exchange for or in lieu of any other Certificate shall carry all the rights to interest accrued and and to accrue, which were carried by such other Certificate. 12. Interest Payment; Record Date. Interest on any Certificate shall be paid on each Interest ['aymcnt Date by check or draft mailed to the person in whose name the Certificate is registered (thc "t-[older") on the registration books of the City maintained by the Registrar and at thc ;tddrcss appearing thereon at the close of business on the first day of the calendar month of .~[~ch Interest Payment Date (the "Regular Record Date"). Any such interest not so timely paid :;h;tll ccttsc to bc payable to the person who is the Holder thereof as of the Regular Record Date, ;.md shalll be payable to the person who is the Holder thereof at the close of business on a date (thc "Special Record Date") fixed by the Registrar whenever money becomes available for paymen! of thc defaulted interest. Notice of the Special Record Date shall be given by the Regi.~trar to the Holders not less than ten (10) days prior to the Special Record Date. 13. Treatment of Registered Owner. The City and Registrar may treat the person in name any Certificate is registered as the owner of such Certificate for the purpose of ~]g payment of principal of and premium, if any, and interest (subject to the payment is iotas in paragraph 12 above) on, such Certificate and for all other purposes whatsoever whct}~c~- or not such Certificate shall be overdue, and neither the City nor the Registrar shall be ;~l'fk~ctcd by notice to thc contrary.