Resolution - #87-152 - 07/07/1987

Home

i:ran~fers and exchanges of Bonds entitled to be registered, trans- ferried or exchanged° (b) Transfer of Bonds. Upon surrender for transfer of any Bond ._Iu]y endorsed by the registered owner thereof or accompanied by a writter~ instrument of transfer, in form satisfactory to the Registrar, ,h~ly e>ecuted by the registered owner thereof or by an attorney duly ~uthorJzed by the registered owner in writing, the Registrar shall authenticate and deliver, in the name of the designated transferee or trans;ferees, one or more new Bonds of a like aggregate principal amc. unt and maturity, as requested by the transferor. The Registrar may, hr-~wever, close the books for registration of any transfer after the f~fteenth day of the month preceding each interest payment date ~d ,~.ntil 'such interest payment date. (~) Exchange of Bonds. Whenever any Bonds are surrendered by the ~t~gistered owner for exchange the Registrar shall authenticate and de].iver one or more new Bonds of a like aggregate principal amount and :,natuvity, as requested by the registered owner or the owner's attorney t~ wwJ~ ing. (ti) Cancellation. All Bonds surrendered upon any transfer or exchange shall be promptly cancelled by the Registrar and thereafter djsposr-d of as directed by the City. (~:) ~mprppFr or Unauthorized Transfer. When any Bond is pre- ser, t:ed to the Registrar for transfer, the Registrar may refuse to transfer the same until it is satisfied that the endorsement on such o~ separate instrument of transfer is valid and genuine and that requested transfer is legally authorized. The Registrar shall ~nc~r ~,o liability for the refusal, in good faith, to make transfers wl~l~:h :it, in its judgment, deems improper or unauthorized. (t) Persons Deemed Owners. The City and the Registrar may treat the pe,~son in whose name any Bond is at any time registered in the bond r~.:gister as the absolute owner of such Bond, whether such Bond shaLt be overdue or not, for the purpose of receiving payment of, or. o~ a~count of, the principal of and interest on such Bond and for all other l,urposes, and all such payments so made to any such registered owr~er ~>r upon the owner's order shall be valid and effectual to s~tis~y and discharge the liability upon such Bond to the extent of tb~ suu, or sums so paid. (g) Taxes, Fees and Char~es. For every transfer or exchange of Bo~,ds, the Registrar may impose a charge upon the owner thereof suffi- cient to reimburse the Registrar for any tax, fee or other g~vern- ,,e~,ta[ charge required to be paid with respect to such transfer or exchange o (b) Mutilated, Lost, Stolen or Destroyed Bonds. In case any Bored sl~atl become mutilated or be destroyed, stolen or lost, the Regi:;t~ar shall deliver a new Bond of like amount, number, maturity dat'e and tenor in exchange and substitution for and upon cancellation of a~y such mutilated Bond or in lieu of and in substitution for any