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

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~;ucb l~ond destroyed, stolen or lost, upon the payment of the reason- able ~penses and charges of the Registrar in connection therewith; and, Jn the case of a Bond destroyed, stolen or lost, upon filing with ~he Re~]istrar 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 :(o~'~,~ ~ubstance and amount satisfactory to it, in which both the City ;;nd th,~ Registrar shall be named as obligees. Ail Bonds so sur- rendered to the Registrar shall be cancelled by it and evidence of such c~ncellation shall be given to the City. If the mutilated, destroyed, stolen or lost Bond has already matured or been called for redemption in accordance with its terms it shall not be necessary to ~[.ss~ a new Bond prior to payment. (~) Redemption. In the event any of the Bonds are called for :cedamption, notice thereof identifying the Bonds to be redeemed will be giwn by the Registrar by mailing a copy of the redemption notice by ~ir~;t class mai]. (postage prepaid) not more than 60 and not less ~ha~ ~0 days prior to the date fixed for redemption to the registered owaer of each Bond to be redeemed at the address shown on the regis- ~:ration books kept by the Registrar and by publishing said notice in ~:he maDner required by law. Failure to give such notice by publica- ~:~on or by mail to any registered owner, or any defect therein, will not affect the validity of any proceeding for the redemption of Bonds. AIl )~onds so called for redemption will cease to bear interest after ~he ~pecified redemption date, provided that the funds for the redemp- ~:ion are on deposit with the place of payment at that time. :Z~04~ A_p3ointment of Initial Registrar. The City hereby appoints American N:~t:onal Bank and Trust Company~ St. Paul, Minnesota, as the initial Reglstrar~ The Mayor and the City Administrator are authorized to execute and dei[~ver, on behalf of the City, a contract with the Registrar. Upon merge~ or c(~nsolidation of the Registrar with another corporation, if the resul~:i'ag c,rporation is a bank or trust company authorized by law to conduct s,.~ch business, such corporation shall be authorized to act as successo~ 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 a. 13 cash and Bonds in its possession to the successor Registrar and shall de].iver the bond register to the successor Registrar. On or before each i,rin~ipal or interest due date, without further order of this Council, the Tre~,s~r~r shall transmit to the Registrar moneys sufficient for the payment of at]_ principal and interest then due. ;Z~05~ Execution, Authentication and Deltver~. The Bonds shall be prepared under the direction of the City Administrator and shall be executed o~ behalf of the City by the signatures of the Mayor and the City Administrator, provided that all signatures may be printed, engraved or ltthographed 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 ~ ii! the officer had remained in office until delivery.