Resolution - #85-032 - 02/27/1985

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(h) Mutilated, Lost, Stolen or Destroyed Bonds. In case any Refunding Bond shall become mutilated or be destroyed, stolen or lost, the Registrar shall deliver a new Refunding Bond of like amount, number, maturity date and tenor in exchange and substi- tution for and upon cancellation of any such mutilated Refunding Bond or in lieu of and in substitution for any such Refunding Bond destroyed, stolen or lost, upon the payment of the reason- able expenses and charges of the Registrar in connection there- with; and, in the case of a Refunding Bond destroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory to it that such Bond was destroyed, stolen or lost, and of the ownership thereof, and upon furnishing to the Registrar of an appropriate bond or indemnity in form, substance and amount satisfactory to it, in which both the City and the Registrar shall be named as obligees. All Refunding Bonds so surrendered to the Registrar shall be cancelled by it and evidence of such cancellation shall be given to the City. If the mutilated, destroyed, stolen or lost Refunding Bond has already matured or been called for redemption in accordance with its terms it shall not be necessary to issue a new Refunding Bond prior to payment. 1.06. Appointment of Initial Registrar. The City hereby ap- points First National Bank of Minneapolis, Minnesota, in Minneapolis, M~nnesota, as the initial Registrar. The Mayor and the Clerk- Treasurer are authorized to execute and deliver, on behalf of the City, a contract with the Registrar. Upon merger or consolidation of the Registrar with another corporation, if the resulting corporation is a bank or trust company authorized b~T law to conduct such business, such corporation shall be authorized to act as successor Registrar. The City agrees to pay the reasonable and customary charges of the Registrar for the services performed. The City reserves the right to remove the Registrar upon 30 days' notice and upon the appointment of a successor Registrar, in which event the predecessor Registrar shall deliver all cash and Refunding Bonds in its possession to the successor Registrar and shall deliver the bond register to the succes- sor Registrar. On or before each principal or interest due date, without further order of this Council, the Clerk-Treasurer shall transmit to the Registrar moneys sufficient for the payment of all principal and interest then due. 1.07. Execution, Authentication and Delivery,. The Refunding Bonds shall be prepared under the direction of the Clerk-Treasurer and shall be executed on behalf of the City by the signatures of the Mayor and the City Clerk-Treasurer, provided that all signatures may be printed, engraved, or lithographed facsimiles of the originals. In case any officer whose signature or a facsimile of whose signature shall appear on the Bonds shall cease to be such officer before the delivery of any Bond, such signature or facsimile shall nevertheless be valid and sufficient for all purposes, the same as if he had remained in office until delivery. Notwithstanding such execution, no Refunding Bond shall be valid or obligatory for any purpose or enti- tled to any security or benefit under this Resolution unless and until a certificate of authentication on such Bond has been duly executed by the manual signature of an authorized representative of the Registrar.