Resolution - #87-151 - 07/07/1987

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gove~:','n~ental charge required to be paid with respect to such transfer ox ~xchange. (h) Mutilated, Lost, Stolen or Destroyed Bonds. In case any ¢o~td -~ha:L1 become mutilated or be destroyed, stolen or lost, the R~zgt~,~'~'ar shall deliver a new Bond of like amount, number, maturity dot:e a~d tenor in exchange and substitution for and upon cancellation any such mutilated Bond or in lieu of and in substitution for any such B~md destroyed, stolen or lost, upon th~ payment of the reason- able e;~:penses and charges of the Registrar in connection therewith; ar, d~ i~ the case of a Bond destroyed, stolen or lost, upon filing with Registrar of evidence satisfactory to it that such Bond was de~:twoyed, stolen or lost, and of the ownership thereof, and upon fu~:nisbing to the Registrar of an appropriate bond or indemnity in fo~m, .~mbstance and amount satisfactory to it, in which both the City th~~. Registrar shall be named as obligees. Ail Bonds so sur- rer~d~r~d to the Registrar shall be cancelled by it and evidence of ~qucb cancellation shall be given to the City. If the mutilated, des;~:royed, stolen or lost Bond has already matured or been called for redemption in accordance with its terms it shall not be necessary to J ss;,~m ~, new Bond prior to payment. (:!.) Redemptions. In the event any of the Bonds are called for r'ede, mpIion, notice thereof identifying the Bonds to be redeemed will be giv~n by the Registrar by mailing a copy of the redemption notice by t:.J.r.~t class mail (postage prepaid) not more than 60 and not less cb~rt 30 days prior to the date fixed for redemption to the registered owrm'r~ of each Bond to be redeemed at the address shown on the regis- tr~t:i~ books kept by the Registrar and by publishing said notice in ~t~ ma~.ner required by law. Failure to give such notice by publica- c.:[on o~ by mail to any registered owner, or any defect therein, will n(~t a[iect the validity of any proceeding for the redemption of Bonds. A~I] Bo~ds so called for redemption will cease to bear interest after ~_b~ ~-;p~cified redemption date, provided that the funds for the redemp- !~:!¢,n. ;~e on deposit with the place of payment at that time. 2~04,, ~pointment of Initial Registrar. The City hereby appoints Americm~ M~ional Bank and Trust Company, St. Paul, Minnesota, as the initial Registrar~ The Mayor and the City Administrator are authorized to execute and del.5'w~r~ on behalf of the City, a contract with the Registrar. Upon merger or ~:,msolidation of the Registrar with another corporation, if the resuitiCg c~,rporation is a bank or trust company authorized by law to conduct such business, such corporation shall be authorized to act as succe~sor Registrar. The City agrees to pay the reasonable and customary charges of the Registrar for the services performed. The City reserves the right to :cemove the Registrar upon 30 days' notice and upon the appointment of a succes~or Registrar, in which event the predecessor Registrar shall deliver ~1 cash and Bonds in its possession to the successor Registrar and shall d~i[:£'v{~r the bond register to the successor Registrar. On or before each prlm:ipat or interest due date, without further order of this Council, the Tra;mur~2r shall transmit to the Registrar moneys sufficient for the payme'~t o~' ~11 principal and interest then due. 5