Resolution - #87-150 - 07/07/1987

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.~fi~:-~c]ent to reimburse the Registrar for any tax, fee or other .gove~:nmental charge required to be paid with respect to such transfer <l) Mutilated, Lost, Stolen or Destroyed Bonds. In case any ~nd ~all become mutilated or be destroyed, stolen or lost, the ~egJ~]~ar shall deliver a new Bond of like amount, number, maturity date ~,d tenor in exchange and substitution for and upon cancellation of ~y such mutilated Bond or in lieu of and in substitution for any ~uch 8ond destroyed, stolen or lost, upon the payment of the reason- ab].e e~ipenses and charges of the Registrar in connection therewith; amd~ i~'~ the case of a Bond destroyed, stolen or lost, upon filing with the Re!~istrar of evidence satisfactory to it that such Bond was destroyed, stolen or lost, and of the ownership thereof, and upon furm]~hing to the Registrar of an appropriate bond or indemnity in form~ ~ubstance and amount satisfactory to it, in which both the City ~{~d th~ Registrar shall be named as obligees. Ail Bonds so sur- rendered to the Registrar shall be cancelled by it and evidence of :~uch cancellation shall be given to the City. If the mutilated, des~-oyed, stolen or lost Bond has already matured or been called for ~edemp~ion in accordance with its terms it shall not be necessary to [ssu,~ ~ ~ew Bond prior to payment. (i) Redemption. In the event any of the Bonds are called for · redemp~iom, notice thereof ~dentifying the Bonds to be redeemed will be g!v~n by the Registrar by mailing a copy of the redemption notice Yy f[r~t class mail (postage prepaid) not more than 60 and not less th~ ](~ days prior to the date fixed for redemption to the registered owne~~ of each Bond to be redeemed at the address shown on the regis- tr~t~io~ books kept by the Registrar and by publishing said notice in I~he mariner required by law. Failure to give such notice by pubiica- [J. or~ o~ by mail to any registered owner, or any defect therein, will ~ot ~!iec~ the validity of any proceeding for the redemption of Bonds. Ail ~o~ds so called for redemption will cease to bear interest after the :~paclfied redemption date, provided that the funds for the redemp- cio~ ~e on deposit with the place of payment at that time. ?~04~ .A_y~ointment of Initial Registrar. The City hereby appoints American lqatJonal Bank and Trust Company, St. Paul, Minnesota, as the initial Regis~rar~ The Mayor and the City Administrator are authorized to execute and delJver~ on behalf of the City, a contract with the Registrar. Upon merge'r or c,)nsolidation of the Registrar with another corporation, if the resula~m~ corporation is a bank or trust company authorized by law to conduct suci~ business, such corporation shall be authorized to act as successor R(~gistrar. 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 s~cces~or Registrar, in which event the predecessor Registrar shall deliver ~i]~ cash and Bonds in its possession to the successor Registrar and shall d~<l. iv{~r the bond register to the successor Registrar. On or before each orJr~cIl>al or interest due date, without further order of this Council, the 7're~aurer shall transmit to the Registrar moneys sufficient for the payme~t of ~11 principal and interest then due.