Agenda - Council - 07/12/2022 - Laserfiche WebLink

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The person in whose name any Bond shall be registered shall be deemed and regarded as the absolute owner thereof for all 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 its 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 2.9. Cancellation 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 2.7 hereof or for transfer pursuant to Section 2.8 hereof, such Bond shall be promptly canceled by the Trustee. SECTION 2.10. Temporary Bonds. Until Bonds in definitive form are ready for delivery, the Issuer may execute, and upon the request of the Issuer, the 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 Trustee shall authenticate and deliver, in exchange therefor, a definitive Bond or definitive Bonds. Such exchange shall be made by the Trustee without making any charge therefor to the registered owner of such Bond in temporary form. Such temporary bonds will be numbered consecutively upward from T-1. SECTION 2.11. Book-Entry Provisions. (a) Notwithstanding the other provisions of this Indenture regarding registration, ownership, transfer, payment and exchange of the Bonds, unless the Issuer determines to permit the exchange of Depository Bonds for Bonds in the denominations provided in Section 2.2(b) hereof, the Bonds shall be issued as Depository Bonds in denominations of the entire principal amount of a particular maturity of each series of Bonds (or if a portion of said principal amount is prepaid, said principal amount less the prepayment amount); such Bonds to be registered in the name of the Depository or its nominee. The Bonds shall be solely in the denomination of the entire principal amount of a particular maturity except as provided in this Section. So long as the Bonds are held by DTC as Depository, the Trustee shall comply with the provisions of the Letter of Representations between the Issuer and DTC. So long as the Bonds are Depository Bonds, the Issuer and the Trustee shall be entitled to treat the Depository or its nominee as the absolute owner of the Bonds for all purposes of this Indenture, and neither the Issuer nor the Trustee shall have any responsibility or obligation to any beneficial owner of the Bonds. Without limiting the immediately preceding sentence, so long as the Bonds are Depository Bonds, neither the Issuer nor the Trustee shall have any responsibility or obligation with respect to (i) the accuracy of the records of any Depository with respect to any ownership interest in the Bonds; (ii) the delivery to any other person, other than the Depository, of any notice with respect to the Bonds, including any notice of redemption or refunding; (iii) any consent given by the Depository as Registered Owner of the Bonds; (iv) the selection of the particular Bonds or portions thereof to be redeemed or refunded in the event of a partial redemption or refunding of part of the Bonds Outstanding; or(v) 27 735810810